Sector News

Putin reportedly considers $11 Bln Rosneft sale

June 20, 2016
News

Vladimir Putin is considering selling part of Russia’s corporate crown jewels to China and India as the president struggles to meet spending commitments before his possible re-election bid in less than two years, Bloomberg reported.

The report noted that Russia is seeking buyers for 19.5 percent of state oil champion Rosneft OJSC and would prefer a joint deal with the two nations leading the growth in global energy demand. Officials in Moscow expect to raise at least 700 billion rubles or $11 billion from the sale, which would set a privatization record for the country.

According to the report, China and India have both publicly expressed interest in the Rosneft sale, which would cement their footholds inside the world’s largest energy exporter, but neither side has said whether a joint deal is being considered.

Source: RTT News

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