(Yicai Global) Feb. 22 -- CEFC China Energy Co. could complete its USD9-billion deal to take a stake in Rosneft Oil this spring, Russian news agency Sputnik cited Bob Dudley, one of the target firm's directors and group chief executive of BP Plc, as saying.

Glencore International AG and Qatar Investment Authority announced they had agreed to sell more than 14 percent of the company's shares on Sept. 8. The transaction will leave Glencore with a 0.5-percent stake and QIA with 4.7 percent in the Russian state-owned company.

Dudley said he personally believes the deal will go ahead in spring, but he has no internal sources and would not be surprised if the purchase takes longer

Once the transaction is complete, CEFC, China's largest private energy firm, will become Rosneft's third-biggest shareholder. The deal will also grant the Chinese firm equity in Rosneft's 2.7 billion-ton reserves of oil and gas and the 42 million tons of petroleum it produces each year.