Bashneft is ready to buy new assets and filling stations

Bashneft has changed its attitude towards the purchase of new assets, president of the oil company Alexander Korsik said at the meeting of shareholders. Earlier this year, the company decided not to buy anything this year, but the situation proved to be better than expected, he said. There is some money that we are willing to spend on the purchase of new assets, if they are, says Korsik. There are two shopping areas: geological exploration and refueling, the state-owned company’s president added. He didn’t specify what assets are interesting for the company, noted that before the transaction the company preferred not to comment on the negotiations.

In the past year, because of low oil prices and sanctions, it was decided to save some liquidity cushion within the company, says a source close to Bashneft. By the end of 2014, cash and cash equivalents at the Bashneft’s accounts increased 3.2 times to 52.8 billion rubles, the company’s report under IAS says. Six months later, it is obvious that the situation has stabilized and the company began to spend reserves a bit: the company renewed investment in production, some units, small companies always operate, adds the Vedomosti’s interlocutor, without specifying in which companies Bashneft is interested.