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Government 'to do its best' to privatize Rosneft in 2016: Russian Economy Minister
August 22, 2016 / 12:16 PM / a year ago

Government 'to do its best' to privatize Rosneft in 2016: Russian Economy Minister

SHCHETINKA, Russia (Reuters) - Russia’s government should do its best to privatize a stake in the nation’s largest oil producer Rosneft (ROSN.MM) this year, Russian Economy Minister Alexei Ulyukayev said on Monday.

Russian Economy Minister Alexei Ulyukayev attends a meeting of President Vladimir Putin with members of Russian Direct Investment Fund and foreign investors in St. Petersburg, Russia, June 16, 2016. REUTERS/Grigory Dukor - RTX2GN8P

“Taking into account the attractiveness of this asset and keeping in mind that this would allow us to resolve to a large extent the problem of the budget deficit, I believe a sale of part of Rosneft will be a priority project now,” Ulyukayev told journalists on a visit to the Kursk Region in central Russia.

    “We should do our best to do it in 2016.”

    He also said that it was technically possible to privatize mid-sized oil company Bashneft (BANE.MM) at the end of 2016 or in 2017, if there was “a political decision”.

    Reporting by Darya Korsunskaya; writing by Dmitry Solovyov; editing by Polina Devitt

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