clear
Sunday November 19th, 2017 2:26PM

Gerhard Schroeder to chair Russia's state oil company

By The Associated Press
Related Articles
  Contact Editor

MOSCOW (AP) — Former German Chancellor Gerhard Schroeder has been named the new chairman of the Russian state oil giant Rosneft, the company said Friday.

Schroeder's intention of joining the Rosneft board had drawn criticism from his successor as chancellor, Angela Merkel, and from Martin Schulz, the leader of Schroeder's center-left Social Democrats in Germany.

But Rosneft CEO Igor Sechin, a close ally of Russian President Vladimir Putin, said Schroeder's arrival will "allow the development of the company's European business and the expansion of its European footprint."

The Interfax news agency cited Schroeder as saying he saw his role as Rosneft chairman as a broker of compromises when opinions differ on the board. Schroeder has previously said he wants to increase the energy security of Germany and Europe.

Schroeder is already the head of the shareholders' committee for Nord Stream, a pipeline transporting gas from Russia to Germany that is majority-owned by the Russian state gas company Gazprom.

Rosneft is majority-owned by the Russian government, with stakes also held by BP, Swiss commodities firm Glencore and Qatar's sovereign wealth fund.

Glencore and the Qatari fund are in the process of selling most of their stakes to CEFC China Energy Company Limited.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Business - Industries, AP Business - Utilities
© Copyright 2017 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Rhetoric heats up over Catalonia independence vote
Farm trucks and tractors of every size and description are rolling into Barcelona to protect polling stations for Catalonia's independence vote on Sunday, as Catalan and Spanish authorities issued conflicting statements on the vote
9:45AM ( 20 minutes ago )
AP sources: US cuts embassy staff, urges no travel to Cuba
Senior U.S. officials say the United States is pulling roughly 60 percent of its staff out of Cuba and warning American travelers not to visit due to "specific attacks" that have harmed U.S. diplomats
9:44AM ( 21 minutes ago )
The Latest: Iraq PM says flight ban on Kurds not 'siege'
Iraqi Prime Minister Haider al-Abadi says the flight ban set to go into effect this evening is not intended to "starve" the Kurdish people
9:35AM ( 31 minutes ago )
Associated Press (AP)
The Latest: Irbil official: How do you hand over an airport?
The general director of Irbil International Airport says Kurdish authorities are unaware of how to comply with Baghdad's demand to hand the airport over to federal authorities to avert a threatened flight ban
8:50AM ( 1 hour ago )
Iraqi ban on flights to Kurdish capital Irbil begins Friday
Iraqi government order that international airlines halt all flights in and out of Kurdish regional capital Irbil kicks in Friday
8:29AM ( 1 hour ago )
China sets target for electric car quota but delays rollout
China has raised its first-year target for a quota system that will require all automakers to contribute to electric car development but delayed its rollout to 2019
8:29AM ( 1 hour ago )
AP Business
Farmers say Maria wrecked bright spot of Puerto Rico economy
Farmers wonder if Puerto Rico's small but diverse agricultural sector can recover from the sucker punch delivered to one of the island's economic bright spots by Hurricane Maria
5:59AM ( 4 hours ago )
Senator slams Twitter over suspected accounts tied to Russia
Democratic senator criticizes Twitter over its explanation of suspected accounts tied to Russia
3:50AM ( 6 hours ago )
Ex-chief of PetroVietnam sentenced to death for embezzlement
The former head of state-owned oil-and-gas giant PetroVietnam was sentenced to death by a court that found him guilty of embezzlement and abuse of power in a high-profile corruption case
1:28AM ( 8 hours ago )
AP Business - Corporate News
Hospital official says 4 killed in Afghan suicide bombing
Hospital official says at least four people killed and 20 wounded in a suicide bombing outside a Shiite mosque in Afghan capital Kabul
7:57AM ( 2 hours ago )
Asian shares slightly higher, though Japan is exception
Asian shares are slightly higher following a record high close on Wall Street, though Japan was the exception
3:31AM ( 6 hours ago )
Harvey may not have dealt devastating blow to Texas ranchers
Neither federal nor state officials have yet calculated how much cattle were killed during Harvey and cow victims may eventually number thousands
1:28AM ( 8 hours ago )
AP Business - Industries
Iraqi Kurdish region faces isolation after independence vote
A backlash appears to be intensifying against Iraq's Kurds after the region overwhelmingly voted to support independence in a nonbinding referendum
1:52PM ( 20 hours ago )
Iraq's Kurds brace for flight ban after independence vote
Hundreds of passengers waited to board flights out of the Kurdish region at Irbil International Airport after Baghdad threatens to ban flights following an independence referendum held by Iraq's Kurds earlier this week
8:56AM ( 1 day ago )
Irbil braces for flight ban following independence vote
Hundreds of passengers waited to board flights out of the Kurdish region at Irbil International Airport after Baghdad threatens to ban flights following an independence referendum held by Iraq's Kurds earlier this week
8:10AM ( 1 day ago )
AP Business - Utilities
Rhetoric heats up over Catalonia independence vote
Farm trucks and tractors of every size and description are rolling into Barcelona to protect polling stations for Catalonia's independence vote on Sunday, as Catalan and Spanish authorities issued conflicting statements on the vote
9:45AM ( 20 minutes ago )
AP sources: US cuts embassy staff, urges no travel to Cuba
Senior U.S. officials say the United States is pulling roughly 60 percent of its staff out of Cuba and warning American travelers not to visit due to "specific attacks" that have harmed U.S. diplomats
9:44AM ( 21 minutes ago )
The Latest: Iraq PM says flight ban on Kurds not 'siege'
Iraqi Prime Minister Haider al-Abadi says the flight ban set to go into effect this evening is not intended to "starve" the Kurdish people
9:35AM ( 31 minutes ago )
Nobel Peace Prize: The winners that soared and sank
Nobel Peace Prize: The winners that soared and sank
9:34AM ( 32 minutes ago )
Russia's Navalny, associates detained ahead of rally
Police have taken Russian opposition leader Alexei Navalny into custody in Moscow and detained his associates in a city where he was heading for a rally
9:32AM ( 34 minutes ago )