Russia's Shuvalov: No Decision on Rosneft Stake Sale to BP

Russia's government has still to decide on the possible sale of a stake in state oil company OAO Rosneft to British oil major BP PLC, the country's first deputy prime minister said Tuesday.

"The government has still not made a decision, and president [Vladimir Putin] hasn't informed us about his decision on this," said Igor Shuvalov.

At a meeting last week, BP top executives told President Putin and Rosneft Chief Executive Igor Sechin about their intention to invest in Rosneft, if it was successful in its attempt to sell its 50% stake in Russia's third biggest oil producer, TNK-BP Ltd.

"I understand there are proposals from Rosneft management and corresponding approaches from BP," Mr. Shuvalov said. "The government will need to carry out relevant consultations and a broad discussion, and only then a decision will be made."

Mr. Shuvalov also said that neither Deputy Prime Minister Arkady Dvorkovich nor Energy Minister Alexander Novak had sent any suggestions regarding this issue to the government.

BP already holds a 1.3% stake in Rosneft.

Copyright (c) 2012 Dow Jones & Company, Inc.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
United States Denver: Proposals Specialist
Expertise: Business Development|Marketing|Sales
Location: Denver, CO
 
Landman - Midstream Surface Land
Expertise: Landman
Location: The Woodlands, TX
 
Land Specialist - Delaware Basin
Expertise: Landman
Location: Midland, TX
 
search for more jobs

Brent Crude Oil : $50.56/BBL 0.15%
Light Crude Oil : $47.7/BBL 0.70%
Natural Gas : $3.05/MMBtu 1.32%
Updated in last 24 hours