Russias government plans to privatize a number of energy sector companies in 2016, including Rosneft and Bashneft oil majors, Russian Minister of Economic Development Alexei Ulyukayev said, adding that privatization plans for the foreseeable future do not include Sberbank, one of Russians biggest and oldest banks.
"Our proposals that have been approved in general by the countrys leaders include assets of the fuel and energy sector, such as Rosneft and Bashneft. There are other assets as well."
He said these included companies active on the market and having market-value appraisal. "Naturally, we will not go down beyond this market appraisal," he said.
Ulyukayev noted that the countrys economy had a big number of funds that could be efficiently invested and investing these funds into the government assets was quite reasonable.
He said his personal contacts with Russian businesses proved that they were interested in buying assets. He said he hoped the assets on the 2016 privatization plans would be in high demand.
He said it was just one of the package the government planned to implement to support the economy.
Rosneft and Bashneft are both producers of API Group I lube base oils. Rosneft has two plants, one in Angarsk, Russia and one in Novo-Kuibyshev, Russia, each with a capacity to produce 4,400 bpd Group I base oil. Bashneft has a plant in Novo-Ufa, Russia with capacity to produce 4,200 bpd Group I base oil.
