Trafigura Sells Stake in Russia-Backed Oil Refinery in India

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Trafigura Group is selling its stake in Nayara Energy, including a refinery and retail network in India, cutting ties with Russian state oil company Rosneft.Commodities trader Trafigura Group struck a deal to exit a major joint-venture with Rosneft Oil Co. in India, unwinding a relationship with Russias energy giant that was a decade in the making.Trafigura said Wednesday it had sold its 24.5% take in Indias Nayara Energy Ltd. to Hara Capital Sarl. Hara is a subsidiary of Italys Mareterra Group Holding, which used to be known as Genera Group Holding SpA and invests in energy companies.

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