Offshore

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.
Igor Sechin is president of Rosneft. He is considered one of Putin's closest allies. | Photo: Alexei Nikolsky/AP/Polfoto/Arkiv
Igor Sechin is president of Rosneft. He is considered one of Putin's closest allies. | Photo: Alexei Nikolsky/AP/Polfoto/Arkiv
BY MAZ PLECHINGER, ENERGIWATCH

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

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