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Tatneft still interested in purchasing Bashneft and has necessary assets

September 07, 2016, 12:42 UTC+3
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KAZAN, September 7. /TASS/. Tatneft is still interested in participating in the privatization of 50.08% of Bashneft shares and has the investment resources for the purchase of the package, General Director of Tatneft Nail Maganov said on Wednesday.

"So far our request has been submitted and not withdrawn, the auction is not canceled," he said, adding that Tatneft has the necessary investment resources for purchasing Bashneft shares.

Maganov said that the option for purchasing Bashneft shares in partnership with the company TaiF is being considered.

Tatneft headquartered in Almetyevsk operates in the republics of Tatarstan and Kalmykia, the regions of Samara, Orenburg, Ulyanovsk and the Nenets-Autonomous District. It accounts for 8% of oil production in Russia and more than 80% in Tatarstan. In 2015, the company produced 26.9 mln tonnes of oil, a 2.7% increase compared with 2014.

First Deputy Prime Minister Igor Shuvalov said earlier that the Russian Government will focus on privatization of 19.5% shares in oil major Rosneft and Bashneft will be privatized later.

"Privatization of Rosneft is now coming to the fore. We should focus on it. Let’s return to Bashneft sale after selling the Rosneft’s stake, since we have an assignment of the President to privatize this company," Shuvalov said.

Russian Prime Minister Dmitry Medvedev postponed privatization of oil producer Bashneft, Press Secretary of the Prime Minister Natalia Timakova told TASS. The decision was approved by the President, she said.

Bashneft oil company is operating in more than 20 Russian regions and overseas. The Russian Property Management Agency holds 50% plus 1 share in the company. 25% plus one share in Bashneft belong to the Republic of Bashkortostan.

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