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.


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