Russia to work out criteria for Bashneft privatisation by end-Aug

One of Russia’s oldest oil companies, Bashneft has been producing oil since 1932. Reuters photo by Maxim Shemetov.

Russian gov’t looks to sell 50.08 per cent stake in Bashneft

VOLGOGRAD, Russia, Aug 15 (Reuters) – The Russian government will work out criteria for the planned privatisation of the mid-sized oil company Bashneft by the end of the month, the head of the Federal Agency for State Property Management Rosimushchestvo said on Monday.

“The most important are the criteria,” Dmitry Pristanskov, the head of the agency, told reporters.

The Russian government wants to sell a 50.08 percent stake in Bashneft.

(Reporting by Gleb Stolyarov; Writing by Lidia Kelly, editing by David Evans)