“The government has approved privatization of Rosneft. The price should not be lower that the IPO of 2006,” the source said.
Another source stated that the privatization will not take place immediately. Rosneft itself refused to give any comments.
In August, Ulyukaev confirmed the plans for Rosneft's privatization, explaining that the process will most likely go in two stages.
Rosneft is one of the leaders in Russia's petroleum industry. The company's activities include hydrocarbon exploration and production, upstream offshore projects, hydrocarbon refining, and crude oil, gas and product marketing in Russia and abroad. Currently, the company's main shareholder (69.5 percent) is state-owned Rosneftegaz. British multinational energy giant BP owns another 19.75 percent, while the remaining 10.75 percent is publicly traded.