Abu Dhabi – Mubasher: Mubadala Petroleum, a subsidiary of Mubadala Investment Company, has announced the acquisition of a 44% stake in an oil subsidiary of Russia’s Gazprom in consideration of AED 995.44 million ($271 million).
Gazprom’s board agreed to sell a stake of its subsidiary Gazprom Neft-Vostok to Mubadala Petroleum, according to Reuters.
In 2017, Gazprom Neft-Vostok oil production decreased by 3% to 1.64 million tonnes.
“Middle East oil producers and Russia have forged closer ties since striking a deal to cut global crude output in a bid to remove a glut in supplies,” the international news agency reported.
