Support The Moscow Times!

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."


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.