Privatisation of Rosneft to end before 2017

SOCHI, August 3 (Itar-Tass) — Privatisation of Russia’s major oil company Rosneft will end before 2017, Russian president’s aide Arkady Dvorkovich said on Wednesday.

“As for Rosneft, the government has offered to complete a full withdrawal of the state from the company before 2017,” he said, speaking about the list of companies subject to privatisation, submitted to the president. “Concrete time framework for privatisation of its separate packages will be determined by the government,” he added.

Earlier, Russian President Dmitry Medvedev stated at a meeting with Rosneft CEO Eduard Khudainatov that the Russian major oil company Rosneft would be privatized, when the state authorities found it mostly profitable.

“I believe that it is necessary to prepare for privatization of such major and giant companies as Rosneft so that it would be profitable,” Medvedev said at the meeting.

“We will not sell anything without sound reasons, this decision will be taken if we found it right and expedient at the present moment,” the president underlined.

“Therefore, we will have to make necessary preparations, as the task demands the preparatory work,” Medvedev said.

“To what extent the Rosneft privatization is topical?” Medvedev asked Khudainatov.

“We are at the preparatory stage,” the Rosneft chief said, noting that the company is passing an active stage of development.


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