The Russian government has allowed oil major Rosneft to buy the government’s 50.08% stake in oil company Bashneft without an auction for 329.6 billion rubles, a source at the Energy Ministry reported.
On September 30, First Deputy Prime Minister Igor Shuvalov said that the government had decided to resume preparations for the sale of its 50.08% stake in Bashneft, and Rosneft was granted access to the deal.
Sources familiar with the matter said Rosneft’s board of directors approved of participation in privatization of Bashneft. Rosneft only said in a separate statement that the board approved a large deal, and a representative of the company said that the deal’s details would be announced later. (Prime/Business World Magazine)
