Russian state-controlled oil firm Rosneft faces a slowdown in crude production growth this year, but aims to enhance profitability by strengthening its trading expertise. Rosneft ended a busy year for acquisitions in 2013 with a deal to buy most of Morgan Stanley’s oil trading business, as the US bank joins a financial sector exodus from commodities trading. The transaction includes Morgan Stanley’s international oil storage facilities, inventories of crude and products with associated contracts, freight shipping agreements and equity investments.
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