UPDATE 2: BP does not mind Russia’s Rosneft’s purchase of Bashneft -- CEO

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ISTANBUL, Oct 10 (PRIME) -- International oil major BP, which holds a 19.75% interest in Russian oil major Rosneft, does not mind its purchase of oil company Bashneft, CEO Robert Dudley told reporters on Monday on the sidelines of the World Energy Congress.

Last week the Russian government allowed Rosneft to acquire a 50.08% stake in Bashneft, currently state-owned, for up to 330 billion rubles. A sales agreement can be signed until Saturday.

The CEO said that BP is also fine with Rosneft buying back its shares from the government. He said that a buyback is always a good option, when considered a good investment by a company.

Dudley also said that BP is happy with its current stake in Rosneft and has no plans to participate in its privatization.

OPEC states may reach an agreement on oil market stabilization measures during a ministerial meeting in November, Dudley said.

He said that oil prices will most probably range between U.S. $50 and $60 per barrel in 2017, but BP will compile a plan based on the oil prices for 2017 in November–December.

(62.3031 rubles – U.S. $1)

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