ShippingWatch

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

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 RUB 329.7 billion, 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 ShippingWatch

Price of Maersk's new methanol ships drops

Maersk has just ordered six new methanol-powered container ships and now reveals that the added cost of building green ships compared to conventional ones is decreasing. Economies of scale, says equity analyst.

Esvagt pursues Taiwanese offshore wind

The Danish offshore service operator has located a possible partner on the island as a part of high hopes for the local offshore wind market. If successful, Esvagt could be ready to service wind at sea in the far east in a few years.

Further reading

Related articles

Latest news

See all jobs