Rosneft seeks Russian debt relief

By AAP

Rosneft became the world's largest publically-traded oil firm after taking over the TNK-BP joint venture from its Russian owners and the British giant for $US54 billion in 2013. BP also secured a 19. 75 per cent stake in government-run Rosneft in return and remains its largest minority shareholder.

Another controversial proposal was for granting Rosneft the right to gain control of new Arctic and onshore fields without a bidding process. "The implementation of the support measures is subject to consideration, we believe," Moscow's VTB Capital investment house said in a research note.

The well-connected Vedomosti business daily said Rosneft chief Igor Sechin had written a letter to the cabinet outlining five ways it could help repay nearly $US45 billion ($A48. 69 billion).

US measures prevent Rosneft and Novatek - a private gas firm run by close allies of President Vladimir Putin - as well as two state-held banks from raising anything but short-term debt that matures within 90 days on the US market.

Read more here: Business Spectator

    

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>