By August 25, 2016 Read More →

Bashneft sale postponed due to market conditions: Minister

Bashneft

The Russian Economy Minister Alexei Ulyukayev said inv. REUTERS/Maxim Shemetov

Bashneft sale shelved, Rosneft stake sale may happen anytime

MOSCOW, Aug 25 (Reuters) –¬†The Russian government has decided to postpone the privatisation of its mid-sized oil company Bashneft, taking into account market conditions and investors’ readiness for the deal, Economy Minister Alexei Ulyukayev told reporters on Thursday.

“This was an estimate of the market conditions, investors readiness,” he told reporters.

Ulyukayev added that privatisation of Bashneft and Russia‘s largest oil producer Rosneft may happen “anytime, starting from September and during the entire 2017”.

(Reporting by Olesya Astakhova; writing by Katya Golubkova; editing by Vladimir Soldatkin)

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