Increase in Rosneft's Capitalization Eyed

The decision on whether or not to privatize state-owned oil company Rosneft should be made after steps are taken to stimulate an increase in the company's capitalization, Rosneft President Igor Sechin said Thursday, Interfax reported.

"If a decision on privatization is made rapidly, it should be preceded by stimulus measures," he said.

"If you require a financial result that we could get as a result of a process extending over time, then of course we need to consider projects that influence capitalization," Sechin said. "These are a decision on exporting liquefied natural gas, a reappraisal of resources, particularly in light of new offshore projects, and potential discoveries of new fields. Then the maximum efficiency will arise."

(MT)

Read more