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Rosneft To Make IPO Within A Year

A Russian Economic Development and Trade Ministry official said that oil firm Rosneft would make IPO

A Russian Economic Development and Trade Ministry official said that the state-run oil firm Rosneft would make IPO in the middle of 2006.

However, before this the state needs to close the deal to buy 10.74% of Gazprom and to finish integrating Yuganskneftegaz into Rosneft, Kirill Androsov, the Ministry?s regulation and infrastructure reforms director, said.

"Rosneft is essentially a new company," he said. Kirill Androsov. According to him, the integration could take about a year.