Rosneft gats right for National Wealth Fund’s money

The Government has approved investment program of Rosneft and is ready to allocate a part of money from the National Welfare Fund (NWF) to redeem the company's bonds. The precise amount of the support hasn’t been defined: recently Rosneft asked for 1.5 trillion rubles, but, according to sources of the Kommersant, the option of allocation of 0.5-1 trillion rubles to it is discussed. NWF has this amount for a while, but this will almost exhaust the amount of available funds, not reserved for specific projects.

The investment program of Rosneft, which was considered at the meeting at the Prime Minister Dmitry Medvedev’s office, "was generally approved", although "there are nuances in terms of the implementation of specific priority projects", the Deputy Prime Minister, Arkady Dvorkovich stated yesterday. According to him, now the company has the right to receive money from the National Welfare Fund, but "first an application should be made". As the Kommersant reported, the investment program of the state-owned company was considered at the Prime Minister, Dmitry Medvedev’s office at the end of August. But its parameters haven’t been yet published

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
12 Northfields Prospect; London, - SW18 1PE; United Kingdom
E 51° 27.454518" S 0° 14.101236"

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer