Putin’s spox: Rosneft must protect interests of govt, other owners

NOVO-OGARYOVO, Moscow Region, Feb 5 (PRIME) -- The Russian government has the right to demand state-owned oil major Rosneft protects its interests, but the company has other shareholders and must protect them too, Dmitry Peskov, spokesman for President Vladimir Putin, told reporters late Wednesday following Putin’s meeting with Rosneft CEO Igor Sechin.

At the meeting, Sechin said he expects the government to support Rosneft’s Far Eastern oil refinery project after the so-called oil tax maneuver.

Putin was surprised. “When you worked for the government, you stood for the maneuver, as soon as you went to the company – you switched sides. Where is the real Sechin?” Putin said.

Peskov explained: “The president has voiced his position that a company like Rosneft must protect interests of the government, while, of course, defending interests of other shareholders.”

Under the tax maneuver, oil export duties will be gradually reduced by 41.2% in three years, export duties for oil products will be reduced by 41–80%, while gas condensate duties will be cut by 84.6%, while the mineral extraction tax will soar that will result in growing domestic oil price.

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