Russia May Force Rosneft to Buys its Own Shares

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)

Logistics News

Smart Port Challenge 2025 Attracts 288 Proposals, Winners Announced

Smart Port Challenge 2025 Attracts 288 Proposals, Winners Announced

Noatum Maritime, Bapco Upstream Sign Agreement for Marine Services at Bahrain LNG Terminal

Noatum Maritime, Bapco Upstream Sign Agreement for Marine Services at Bahrain LNG Terminal

Algoma Central Fleet Hits the 100-Vessel Mark, Records Strong Q3

Algoma Central Fleet Hits the 100-Vessel Mark, Records Strong Q3

Anglo-Eastern Debuts Methanol Bunkering Simulator, Courses

Anglo-Eastern Debuts Methanol Bunkering Simulator, Courses

Subscribe for Maritime Logistics Professional E‑News

UPS Worldport, Louisville: A nerve center for global logistics
Sources say that Mexico's Asur is the leading bidder for Motiva Latin American Airports.
Pembina Pipeline will supply LNG to Malaysian PETRONAS for 20 Years