Process of Bashneft’s privatization to be launched next week

​The Government has ordered to appoint the organizer of privatization of Bashneft, Alrosa and VTB not later than next week, the deputy Minister of Economic Development, N. Podguzov, said.

Previously the President Putin excluded Bashneft from the list of strategic enterprises. Thus he allowed the privatization of the entire stake of the company.

Now Russia holds 50.08% of the registered capital of Bashneft via Rosimuschestvo, another 25% plus one share is held by Bashkiria. According to the Minister of Economic Development, A. Ulyukaev, the privatization of the state package might be held in H1 2016.

Meanwhile the main candidate for the Government stake in Bashneft is clear. Lukoil’s head, V. Alekperov said that the company is interested in the purchase despite of low prices.

There is also the outsider. The Ministry of Energy criticized the suggestion of the Independent Oil and Gas company to include the additional requirements to oil processing, sale of oil products and forming o the profit center in the Far East in the conditions of privatization. The Ministry considers these conditions not to be important.