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    Russia’s LUKoil Not to Participate in Privatization of 19.5% of Rosneft

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    Russia’s LUKoil's CEO Vagit Alekperov stated that copmany will not participate in the privatization of 19.5 percent of oil giant Rosneft.

    ASTRAKHAN (Sputnik) — Russia’s LUKoil will not take part in the privatization of 19.5 percent of oil giant Rosneft, the company’s CEO Vagit Alekperov said Monday.

    "No," Alekperov told journalists answering the respective question.

    The Russian 2016 economic development plan specifies partial privatization of state assets to support budget revenue, which has suffered due to falling oil prices. Rosneft and Bashneft oil and gas companies, the ALROSA group of diamond mining companies, VTB bank, as well as the Sovcomflot maritime petroleum and liquefied gas shipping company, are among the companies to be partially privatized.

    Russia is due to sell 19.5 percent of Rosneft shares before the end of the year.


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