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Russian economy minister sees chance for Bashneft privatization this year

September 15, 19:44 UTC+3 PORT KAVKAZ
On August 16, the Russian PM postponed privatization of oil producer Bashneft
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PORT KAVKAZ, September 15. /TASS/. Russia’s Economic Development Minister Alexei Ulyukayev still sees a chance for privatization of Bashneft oil company this year.

"It is not the final decision (that privatization of Bashneft was shifted to 2017 - TASS). There is still a chance (that the company’s stake will be privatized this year - TASS)," Ulyukayev told reporters.

On August 16, Russian Prime Minister Dmitry Medvedev postponed privatization of oil producer Bashneft.

Bashneft oil company operates in more than 20 regions of Russia and abroad. The Federal Property Management Agency owns 50 plus 1 share in the company’s share capital; the republic of Bashkortostan holds 25% plus one share. Bashneft’s shares are traded on the Moscow Exchange.

Privatization of Rosneft 

The minister went on to say that Russia is not holding substantive talks with Indian companies on their participation in privatization of the stake in state-owned oil company Rosneft. 

"No such talks are under way, that is for sure, and it is hard to predict," he said.

The minister also said the interest some Japanese companies showed in the privatization of Rosneft has not resulted in any concrete application for participation.

The Russian government plans to privatize a 19.5% stake in the company.

Italy’s bank Intesa, an advisor on Rosneft’s government stake sale, has already provided the second report containing the appraisal of the stake

Earlier this year Bloomberg reported that Russia plans to sell a 19.5% stake in Rosneft to investors in China and India for $11 bln. The Economic Development Minister Ulyukayev later said that this amount is close to the real figure. He also said that the privatization of Rosenft may take place any month starting from October.

China National Petroleum Corporation (CNPC) said it was interested to participate in the privatization of Rosneft.

Economic Development Minister Alexei Ulyukayev said that besides China and India investors from other countries also expressed interest in the deal.

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