Energy min: Russia’s Rosneft must not bid for Bashneft

MOSCOW, Aug 8 (PRIME) -- Russia’s Energy Ministry has agreed with the Economic Development Ministry that state-run oil major Rosneft should not participate in privatization of oil company Bashneft, Energy Minister Alexander Novak told reporters Monday.

Last week, Economic Development Minister Alexei Ulyukayev said that Rosneft had bid for privatization of Bashneft, but it is very unlikely that it will end on a short list of contenders as the company is an inappropriate buyer for Bashneft.

“I agree with the opinion of the Economic Development Ministry,” Novak said.

President Vladimir Putin earlier authorized the sale of the entire government stake in Bashneft to a private investor. The Federal State Property Management Agency owns 50.08% in the company, while the government of the republic of Bashkortostan has a 25% stake. On August 5, First Deputy Prime Minister Igor Shuvalov said that the value of Russia’s government 50% stake in oil company Bashneft was estimated at 297–315 billion rubles.

(65.5627 rubles – U.S. $1)

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