The Russian government can raise about 700 billion rubles from privatization of the oil major Rosneft, Economic Development Minister Alexei Ulyukayev said.
“I think that Rosneft has always been a priority because it is larger, more expensive, has more value to the budget. This is about 700 billion rubles which we can receive this way to fulfill budget obligations”, Ulyukayev said.
The minister said that China’s CNPC was expressing interest in the purchase of a stake in the Russian oil producer. He said that participation of Asian companies would allow Moscow to raise more money from the upcoming privatization deals.
The government will present proposals for privatization of Rosneft and a smaller oil company Bashneft to the president later, and he will have a final say on the issue, Ulyukayev said. (Prime/Business World Magazine)