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

Epstein Files Brings Down DP World Boss

Trump declares that India will purchase oil from Venezuela and not Iran

Panama Court Quashes CK Hutchison Port Contracts

Current News

Epstein Files Brings Down DP World Boss

Port Attack Near Odesa Kills Three Brothers

India OKs Ag Exports to Placate Farmers

$1.2B Invested in German Terminal Upgrade

Subscribe for Maritime Logistics Professional E‑News