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Rosnefts SPO May Take Place in Late 2014 - Minister
3.10.2014 19:28
Rosnefts SPO May Take Place in Late 2014 - Minister
Photo Credit: http://www.rosneft.com

Rosneft’s SPO is still on the table this year for the government as an apparent option to boost budget revenue amid the slackening economy and international sanctions.

      Russia’s Economic Development Minister told journalists the stat is considering selling part of its stake in Rosneft by the end of 2014. The news came as a surprise to many investors after previous statements that Rosneft’s SPO has been put on hold until at least 2015. The sanctions introduced by the West, including the US, the EU, Canada, Australia and Japan, cast more doubt that the deal is to be expected anytime soon.

      However, the government may have decided it desperately needs the 100 billion roubles it is seeking from the sale of 19.5 percent.

      Rosneft’s IPO took place in 2006, with the initial price standing at $7.55 a share.

      Later Rosneft became the world's leading publicly traded oil producer after it took over BP's Russian venture TNK-BP for $55 billion in March 2013. Rosneft has a vast and high-quality reserve base, with total proved hydrocarbon reserves of 22.8 billion barrels of oil equivalent.

       




Author: Mikhail Vesely

Tags: Rosneft     

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