Rosneft wants no National Wealth Fund’s money for Vostok Oil

MOSCOW, Mar 17 (PRIME) -- Russian oil major Rosneft did not ask the government for money from the National Wealth Fund for the Vostok Oil project since its model does not encompass long-term state financing, the company said in a statement on Wednesday.

“Rosneft has not turned to the government of the Russian Federation to attract funds for implementation of its projects. The financial and economic model of strategic project Vostok Oil mentioned in media reports does not encompass the use of long-term state financing,” the statement read.

Rosneft said that it had to make this statement following reports from Bloomberg and Forbes, which discussed possible provision of money from the National Wealth Fund to the project. “The company’s lawyers are currently working to defend interests of Rosneft and its shareholders, and they have filed the requests to the media demanding publication of denials,” the company said.

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