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The Russian government considering sale nearly one-fifth of Rosneft stake

Russia have to consider various privatization options of the state oil company Rosneft, also including its sale to a strategic investor, the Rosneft’s chief executive officer told an italian newspaper on Wednesday, June 15.

The Russian government considering sale nearly one-fifth of Rosneft stake The Russian government considering sale nearly one-fifth of Rosneft stake

Russia have to consider various privatization options of the state oil company Rosneft, also including its sale to a strategic investor, the Rosneft’s chief executive officer told an italian newspaper on Wednesday, June 15.

« Bearing in mind the situation on the global oil market and the existence of Western economic sanctions, the current quotations barely reflect (Rosneft company) fundamental price, the company's current price quotations hardly meet its fundamental value. Nevertheless, we must take into account budget issues as well.

We assume that in these current difficult conditions we must consider a range of options including inviting a strategic investor», Sechin said in the interview with Il Sole 24.

Igor Sechin separately said that competition on the international energy market will become tougher and Russia will have to face it.

Source : Neftegaz.RU