Sector News

Russia’s Rosneft not planning to buy Lukoil – The Independent cites CEO

February 13, 2015
News
(Reuters) – Russia’s largest oil producer Rosneft is not planning to buy rival Lukoil, Igor Sechin, Rosneft’s chief executive, told The Independent newspaper in an interview published on Friday.
 
Last year Lukoil denied a report that Leonid Fedun, a major shareholder, planned to sell his 9.77 percent stake in the company. The report spurred rumours as to who could buy the stake, and Rosneft’s name was mentioned.
 
Asked if he might consider more deals, such as a takeover of Lukoil, Sechin laughed, saying: “What does Lukoil have to do with that? In crisis there is always a good opportunity for mergers and acquisitions, but we are not looking at Lukoil.” (Reporting by Katya Golubkova and Alexander Winning)

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