Russia says in talks for stake sale in energy firms Rosneft, Bashneft

Potential buyers in Russian energy firms Rosneft and Bashneft are already in talks with the government, First Deputy Prime Minister Igor Shuvalov said, weeks after Moscow said it was willing to sell part stakes in state companies this year to raise funds.

“There are two deals we’re first of all concerned about – Rosneft and Bashneft. As you know the Rosneft deal is very advantageous to us if it happens as it means funds will be raised via Rosneftegaz, since those are budget revenues. As far as Bashneft is concerned potential bidders are already in talks with the government,” Tass news agency quoted Shuvalov as saying.

Russian President Vladimir Putin announced the decision to sell stakes in the state companies in January.

The Russian government expects to raise approximately 500-550 bln rubles from the privatisation of a 19.5% stake in Rosneft, Tass reported. Rosneftegaz controls Russian state assets in the oil and gas sector. It owns more than 69.5 percent of shares in Rosneft while BP owns 19.75 percent.

China National Petroleum Corporation is interested in Rosneft privatization and has set up a working group to study the potential buying into it, Tass said.

It said the Russian government was considering three options for privatisation of Bashneft – the sale of a 25 percent stake, a 50 percent stake sale and, 75 percent together with a stake of Russia’s republic of Bashkiria.

 

 

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