EnergyWatch

Rosneft consolidates power in Russia

State-controlled Russian oil company Rosneft has completed its acquisition of the country's fast-growing and state-owned oil company Bashneft. This is a boost in the privatization of the state's assets, says the country's president Vladimir Putin.

Photo: Gazprom

Russia's largest oil company Rosneft has bought a majority stake in the country's sixth-largest oil company Bashneft.

The price of taking over 50.08 percent of the state-owned oil company was 329.7 billion rubles, or USD 5.2 billion, according to a statement to the London Stock Exchange.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Ørsted makes group changes again

The Danish power company shakes up its organization once again, now parting ways with offshore wind chief of many years, while also moving other profiles up the corporate ladder.

Further reading

Latest News

See all jobs