24.05.2012 • NewsGazpromRosneftprivatization

Putin Orders Rosneftegaz Assets Sale in 2013-2015

Russian President Vladimir Putin on Thursday ordered the government to approve a plan to sell state assets in 2013-2015 in the holding Rosneftegaz, which manages stakes in Gazprom and Rosneft, the Interfax news agency said.

Putin's order potentially opens the way for privatizating a stake in Rosneft, notwithstanding a Presidential decree on Tuesday that places the oil giant on a list of strategic companies, which had fueled concerns that Putin intended to exclude the energy sector from privatisation.

Rosneftegaz controls 75.16% in Rosneft, 10.74% in Gazprom and 7% in the Caspian Pipeline Consortium. While Gazprom's privatization has not been discussed, a further state stake sale in Rosneft had been included in previous government plans.

Russia had planned to sell 15% in Rosneft in 2012 as part of a wider ambitious privatization program, but the plan was later scrapped with government official saying the share price was too low to sell.

Igor Sechin, the energy 'tsar' in Putin's former government, who this week was appointed as Rosneft's CEO, has long opposed the sale of the stake in Russia's top crude producer whose London IPO in 2006 was one of the biggest of all time, raising $10 billion.

Rosneft, which accounts for over a quarter of Russia's total crude oil production, earlier this year struck landmark agreements with ExxonMobil, Eni and Statoil to tap huge hydrocarbon reserves in the Russian Arctic and other regions.

 

 

Virtual Event

DIGITALIZATION IN THE CHEMICAL INDUSTRY

DIGITALIZATION IN THE CHEMICAL INDUSTRY

Save the Date: October 22, 2025
The event will be promoted to a combined audience of over 100,000 professionals across Europe through the CHEManager and CITplus networks.

Interview

Specialty Chemicals in a Shifting World
Adapting to Tariffs and Strengthening Regional Networks

Specialty Chemicals in a Shifting World

Jennifer Abril, President & CEO of SOCMA, discusses the impact of new tariffs and the importance of regional supply networks in the specialty chemical industry.