Russian Economy Minister Proposes Cutting State Stake in Bashneft to Zero


MOSCOW, March 1 (Reuters) - Russia's economy ministry is proposing cutting the state's stake in mid-sized oil company Bashneft to zero as part of a privatisation process, Economy Minister Alexei Ulyukayev told reporters on Tuesday.

He added that the economy ministry was choosing between offering 18.9 percent and 10.9 percent stakes in diamond miner Alrosa, and that a sale via the Moscow stock exchange was possible, though other options were not excluded.

The state owns 43.9 percent of Alrosa via the state property agency and a further 33 percent via the Republic of Sakha. The state's 75 percent holding in Bashneft is split between the state property agency and the Republic of Bashkortostan.

(Reporting by Darya Korsunskaya; writing by Katya Golubkova; Editing by Christian Lowe)

Copyright 2017 Thomson Reuters. Click for Restrictions.


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

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Contract Specialist
Expertise: Contracts Administration
Location: Lake Charles, LA
Division Order Analyst - DJ Land Administration
Expertise: Business Analyst|Commercial Management|Landman
Location: Denver, CO
Automation Engineering Manager
Expertise: Electrical Engineering|Engineering Manager
Location: Houston, TX
search for more jobs

Brent Crude Oil : $56.86/BBL 0.76%
Light Crude Oil : $50.66/BBL 0.21%
Natural Gas : $2.959/MMBtu 0.30%
Updated in last 24 hours