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Rosneft Submits Request to Take Part in Bashneft Privatization

© Sputnik / Maksim Blinov / Go to the photo bankRosneft pavilion at the SPIEF Investment & Business Expo at the St. Petersburg International Economic Forum
Rosneft pavilion at the SPIEF Investment & Business Expo at the St. Petersburg International Economic Forum - Sputnik International
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Russian Rosneft will take part in the privatization of oil company Bashneft.

VIENTIANE (Sputnik) — Energy giant Rosneft has submitted a request to take part in the privatization of oil company Bashneft, but is unlikely to make the shortlist, Russian Economic Development Minister Alexei Ulyukayev said Friday.

"I consider Rosneft to be a de facto state company. Formally, of course, it belongs to Rosneftegaz and not the Federal State Property Management Agency, but de facto this is a state company. Therefore, its participation in the privatization process is inexpedient," Ulyukayev told reporters.

The privatization of Russian oil company Bashneft and maritime shipping company Sovcomflot could take place by the end of the year.

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