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Head of Russia's Bashneft is interested in buying the company’s shares this year

January 27, 2016, 20:25 UTC+3

Alexander Korsik welcomes the idea of the company's privatization

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©  ITAR-TASS/Sergey Bobylev

MOSCOW, January 27. /TASS/. Head of Bashneft Alexander Korsik is interested in buying the company's shares this year.

"Yes, but I wanted to buy them way back in December of last year, but I was not allowed to. Now I still would like to buy them now that I work there," he told reporters.

He also noted that he welcomes the idea of the company's privatization. 

Korsik also noted that if the government decides to sell the company, the company is interested in selling the package at the highest price as possible.

"I think that the maximum money can be raised only if there are portfolio investors," - he said.

"I think that portfolio investors can be interested in Bashneft, because it is unlikely that strategic investors can be interested - they do not like downstream (refining and marketing - TASS) and for obvious reasons we don’t want to share upstream (exploration and production - TASS) with them," he said.

The main shareholders of Bashneft are the Russian government represented by the Federal Property Management Agency (50% plus 1 share) and the government of the republic of Bashkiria (25% plus 1 share).

Russian oil industry needs a stable taxation

According to the official, Russian oil companies did not ask for a reduction of the tax burden, it is stability that is most important.

"The main thing for us is stability - not to increase the tax burden. Just do not change it, we will cope with everything," he said.

Bashneft does not intend to participate in foreign projects in 2016

The official said Bashneft is not going to participate in foreign projects in 2016.

"No, we are not going to [participate in new foreign projects - TASS]," Korsik said. "We are going to continue the projects that we have," he added.

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