Sechin: Rosneft agrees with privatization but oil price is better to be $100

​Rosneft’s management has agreed with all the decisions of the Government on the company’s privatization, however, the effective privatization is possible at the oil price of $100, the head of Rosneft, I. Sechin, said.

If to think at the expert’s level, it is very simple – we need to wait until the oil price is $100. But I think other circumstance should be taken into account here such as the necessity of forming the additional income to the budget.

At the IPO Rosneft’s shares were sold at $7.55, $8.12 at the sale of BP. I think the realization of this approach will make the sale of shares absolutely legal and will protect the interests of minority shareholders.

The basic value of Rosneft allows to reach the level exceeding the capitalization of $100 bln, I. Sechin said in November 2015. Today Rosneft’s ADR on the LSE costs $3.31.