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Russian ministry considers privatization of government stake in Rosneft in 2016 possible

November 10, 2015, 13:48 UTC+3
Russia’s Economic Development Ministry expects that crude export duty will be only frozen for 2016 while in 2017 the sector will return to the planned schedule
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Oil and gas field of Rosneft

Oil and gas field of Rosneft

© Sergei Bobylev/TASS

BEIJING, November 10. /TASS/. The government stake in Russian oil and gas major Rosneft may be privatized in 2016, Russian Minister of Economic Development Alexey Ulyukayev said on Tuesday.

"It may take place," the minister said.

"Different risks exist," Ulyukayev said responding to the question whether it is better to sell blocks of shares in major state-owned companies at an established price.

TASS reported earlier the Russian Property Management Agency is ready to speed up privatization of Rosneft, Aeroflot and RusHydro if a relevant assignment of the president is given.

Crude export duty to be only frozen for 2016

Ulyukayev stressed that Russia’s Economic Development Ministry expects that crude export duty will be only frozen for 2016 while in 2017 the sector will return to the planned schedule.

"Now we assume that this is a temporary decision. In 2017, we’re coming returning to the schedule of reducing export duty outlined earlier," he said.

As TASS reported earlier currently the State Duma is considering draft amendments to Tax Code, which imply keeping 42% crude export duty, which is in force in 2015, for 2016. Earlier it was planned to reduce the duty to 36%.

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