Arab Today, arab today morgan stanley sells oil trading assets to rosneft
Last Updated : GMT 21:53:08
Arab Today, arab today
Arab Today, arab today

Morgan Stanley sells oil trading assets to Rosneft

Arab Today, arab today

Arab Today, arab today Morgan Stanley sells oil trading assets to Rosneft

New York - AFP

Investment bank Morgan Stanley Friday announced plans to sell part of its commodity business to Russian oil giant Rosneft for an undisclosed sum. The transaction covers Morgan Stanley's "global oil merchanting" business, which engages in global storage, trading and transportation of oil and petroleum products. While the deal includes physical holdings of oil and refined products associated with existing contracts, it does not include Morgan Stanley's stake in oil pipeline and terminal company TransMontaigne, the bank said. Morgan Stanley said it is "exploring strategic options" for the TransMontaigne stake. The Wall Street bank also will continue to conduct oil trades on behalf of clients. The deal comes amid indications the US Federal Reserve could shift policy and prevent banks and investment banks from holding physical commodity assets. JPMorgan Chase has also announced plans to market its commodity assets. About 100 executives in the United States, Britain and Singapore will move to Rosneft as part of the transaction, Morgan Stanley said. Russian state-controlled Rosneft is one of the world's biggest petroleum companies, pumping more than 4.8 million barrels of oil-equivalent per day in the most recent quarter, more than US giant ExxonMobil. The company's torrid growth includes the integration of many of the assets of the dismantled Russian oil giant Yukos. Morgan Stanley plans to seek approval for the transaction from the Committee on Foreign Investment in the United States, which assesses sales of US assets for national security issues, according to a person familiar with the matter.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today morgan stanley sells oil trading assets to rosneft Arab Today, arab today morgan stanley sells oil trading assets to rosneft

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today morgan stanley sells oil trading assets to rosneft Arab Today, arab today morgan stanley sells oil trading assets to rosneft

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday