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    Rosneft To Focus On Morgan Stanley Deal Completion, Not More Buys

    Rosneft (ROSN.MM) said on Friday it will focus on integrating Morgan Stanley’s (MS.N) oil trading unit it agreed to buy last week rather than making new acquisitions.

    The move sends a clear signal Rosneft is keen to profit from its own trading after selling oil for years via international energy companies such as BP (BP.L) or trading houses such as Vitol and Gunvor.

    Run by Igor Sechin, a close ally of President Vladimir Putin, the world’s top listed oil producer by output took over TNK-BP in a $55 billion deal this year, continuing to snap up domestic and foreign assets in a move to become a global energy major.

    Morgan Stanley agreed to sell the majority of its global physical oil trading operations to state-controlled Rosneft, becoming the latest Wall Street firm to dispose of a major part of its commodity business.

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