Russia May Force Rosneft to Buys its Own Shares

Posted by Michelle Howard
Thursday, October 27, 2016

Russia's government wants to sell a state stake in oil giant Rosneft to "real investors" but may force the company to buy its own shares to prop up the country's budget, First Deputy Prime Minister Igor Shuvalov said on Thursday.


If Rosneft buys its own shares, it will be only a temporary measure to channel extra revenues to the budget by the end of the year, Shuvalov said. In such case Rosneft will later sell the stake to investors, he said.


The government seeks to carry out privatisation for the benefit of the state budget, Shuvalov said.

(Reporting by Darya Korsunskaya; Writing by Andrey Ostroukh)

Categories: Energy Finance Fuels & Lubes Government Update

Related Stories

Israel-Bound Weapons Ships and Planes Banned in Spanish Ports, Airspace

LNG Cargoes from Sanctioned Arctic LNG 2 Project Flow East

First Tanker Docks at Venezuela After New U.S. License

Current News

ABS AIP for Electric Propulsion Container Ship

US Container Imports Rise in August

Stena Bulk Appoints Seasystems as Exclusive Global Partner for Jettyless LNG Technology

PortXL Announces 2025 Cohort

Subscribe for Maritime Logistics Professional E‑News