(Yicai Global) Sept. 11 -- CEFC China Energy Co., Shanghai's largest private energy company, has reached an agreement with Swiss resource trade giant Glencore International AG [LSE:GLEN] and the Qatar Investment Authority (QIA) to acquire a 14.16-percent stake in Russia's state-owned Rosneft Oil [LSE:ROSN] and become its third largest shareholder.

The USD9.1-billion acquisition is at a 16-percent premium compared with the company's average share price in the 30 days before Sept. 8.

CEFC will obtain annual equity in oil production of 42 million tonnes and access to oil and gas reserves totaling 2.67 billion tonnes after the deal's completion.

Both parties previously signed cooperation agreements on long-term supply contracts for crude oil, oil-gas exploration, oil refining and oil product trade. The related supply contract will take effect from 2018.

"We're pleased to become Rosneft's strategic shareholder and will carry out comprehensive cooperation with it." said Ye Jianming, CEFC chair.

"The cooperation will cement CEFC's position in the oil and gas sector and provide strong support in satisfying China's energy demand," he added.