CNPC wants not only to own, but manage Rosneft

The most likely contender for the participation in the privatization of Rosneft - China's CNPC – has put forward as a condition an access to the state-owned company management. Formally, even the purchase of the entire stake in the privatizing package of 19.5% will give CNPC only a position of the largest minority with the right to have two seats in the Board. According to experts, the Russian authorities are not interested to provide CNPC with more rights than BP - the current largest foreign shareholder of Rosneft. And the controlling package will remain belonging to the state in any case.

CNPC has been interested in participating in the possible privatization of 19.5% of Rosneft, but in this case it intends to seek participation in the management of the state-owned company, chairman of the CNPC’s Board of Directors Wang Yilin said yesterday. "We, of course, in the case of increasing the proportion would like to receive the right to participate in managing the company, of course, in full compliance with the acquired share," - he said.