Rosneft may be privatized Chinese CNPC

The Chinese want to control the activities of the Russian company.

31.May.16 4:34 AM
By Andrey Shulga
Photo Toinnov.com

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China national petroleum Corporation China National Petroleum Corporation or CNPC is going to participate in privatization of Russia's Rosneft. This was reported to journalists by the head of the Corporation, WAN Iligan.

According to the representative of the Chinese side, CNPC intends to purchase such portion of the Russian oil giant, which will allow it to obtain the right to manage the company.

WAN Iligan announced that his Corporation is interested in privatization of state blocks of shares of "Rosneft". The businessman believes that this "partnership" would be of "strategic"in nature.

To implement the desired Chinese have to "offer" from the Russian oil giant. In case if their conditions are satisfied, we can talk about the conclusion of the contract.

Note that to date, CNPC already owns 0,62% of shares of "Rosneft". This share was acquired by the Chinese back in 2006. The leadership of the CNPC established a working group, which deals with the question of acquisition and other actions "Rosneft".

The Russian government is ready to sell a 19.5% stake in oil company. The issue price 490-550 billion rubles. Shares may be sold in the second half of 2016.

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