ST. PETERSBURG (Sputnik) — Russia's Energy Ministry allows for Chinese companies to take part in the privatization of Russian energy giant Rosneft, Energy Minister Alexander Novak said Thursday.
"This will depend on the investors themselves. We are allowing for major companies to take part in the privatization, including Chinese ones," Novak told reporters.
One Chinese company, China National Petroleum Corporation (CNPC), has been promised a seat on Rosneft's board of directors if it acquired a sufficient stake during privatization by Russian Economy Minister Alexey Ulyukaev. CNPC already has a small stake in Rosneft acquired in 2006.
The Russian 2016 economic plan specifies partial privatization of state assets to support budget revenue. Rosneft and Bashneft oil and gas companies, the ALROSA group of diamond mining companies, VTB bank, as well as the Sovcomflot maritime petroleum and liquefied gas shipping company, are among the companies to be partially privatized.
