Moscow said this week that a consortium of Glencore and Qatar would buy a 19.5 % stake in Rosneft for over 10 billion euros in one of the biggest energy deals of 2016. 

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 Glencore said it would inject only 300 million euros of its own equity into the deal while getting a contract for an extra 220,000 barrels per day of supply from Rosneft. 

Most analysts saw the deal as a cheap way for Glencore into getting ahead of rivals - Trafigura and Vitol - in securing lucrative Russian barrels. 

However, traders said it was unclear where Rosneft would get the oil volumes for Glencore before 2018 unless it decided to scrap some of its existing deals with rivals.

"The volumes of the new contract (with Glencore) have been calculated based the already existing contracts and production plans," Rosneft said in written comments to Reuters.