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Rosneft may meet its objectives without attracting National Welfare Fund - minister

November 08, 2014, 17:22 UTC+3
“Rosneft, being a first-class oil company and an active market player, the company can manage its problems without support from the state,” he said
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© ITAR-TASS/EPA/YURI KOCHETKOV

BEIJING, November 8. /TASS/. Rosneft may meet its objectives and implement its projects without state support, including that from the National Welfare Fund, Russia’s Minister of Economic Development Alexei Ulyukayev said on Saturday.

“Rosneft, being a first-class oil company and an active market player, the company can manage its problems without support from the state,” he said.

No sense in Rosneft privatization

Ulyukayev says that it does not make economic sense to sell 19.5% of the Russian state-owned oil company Rosneft stock under the current circumstances, he told reporters on Saturday.

“I think yes, we are discussing it but it seems logical,” he replied when asked whether Rosneft privatization is inexpedient at present.

Ulyukayev suggested that investors from China and India still evince interest in the assets.

Speaking about an offering price, the minister said that $8.12 per share, the company priced its initial public offering (IPO) at, may be “a good basis for discussions.

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