Shuvalov: This year Russia may sell a small holding of Rosneft’s shares

In 2013, after the conclusion of the deal of the purchase of BP-TNK by Rosneft, Russia may sell a part of the Government's stake of the state oil company, the First Vice Prime Minister Igor Shuvalov stated in an interview to the Wall Street Journal. I.Shuvalov didn’t report any details.

Thus, for the last months, the Government’s plans as respects to the further privatization of Rosneft didn’t change, but also didn’t become more concrete: Shuvalov announced the possible sale of a small part of the Government's stake in 2013 in last October already, the Finmarket reports.

In June of 2012, the Russian Government approved the privatization program, in accordance with which it was planned to start to sell Rosneft’s shares in 2013 and completely withdraw from the Rosneft’s capital by 2016.

Later Rosneft negotiated the purchase of 100% of BP-TNK, and a part of the deal included the sale of 5.66% of Rosneft’s shares to British BP by Rosneftegaz. On the whole, BP will become the owner of 19.75% of Rosneft’s shares on account of partial payment of a half of BP’s BP-TNK by Rosneft with its reacquired stocks.

The purchase of a Rosneft’s share by BP is a start of the privatization of the Russian company, Prime Minister Dmitry Medvedev stated earlier.

“A part of package is transferred to BP, and this is just a start of corresponding decisions. So, gathering such assets, like BP-TNK, we don’t refuse the idea of the Rosneft’s privatization,” – he noted.

http://www.oilcapital.ru/company/197908.html

Translated by Svetlana Kyrzhaly