Source Pravda.Ru

Russians To Postpone Lukoil Sale

The Russian government cancelled its offer of 5.9% of Lukoil, stating it did not need $700 million badly enough to accept investors' price for its stake in the energy giant. Lukoil still expects to proceed with plans to have its shares listed on the London Stock Exchange on August 6, making it the first Russian company with a full listing on the exchange.

The government did say, however, that it will go ahead with the privatization of Slavneft. Original plans called for the privatization of 19.68T in Slavneft after selling its 5.9% stake in Lukoil on international markets but the Lukoil sale fell through. "The privatization of Slavneft will not be delayed further. We shall sell the 19.6% stake this year at auction in Russia," according to Alexander Braverman, First Deputy Property Minister. The state owns 75T of Slavneft with Belarus holding about 11% and private investors holding the remainder.

The company produces 325,000 barrels per day but last year said it had made a huge oil find in the eastern Siberian field of Kuyumbinsky with estimated hydrocarbon reserves of 2.5 billion barrels

©

&to=http://www.lukoil.com' target=_blank>LUKoil

Comments
Russia will not let NATO warships into Sea of Azov
Is Putin guilty of the Kerch school massacre?
Putin: Russians will go to heaven in case of nuclear war
Is Putin guilty of the Kerch school massacre?
Saudi Arabia knows how to dismember journalists and get away with it
US official lashes Europe for working on Nord Stream 2
Is Putin guilty of the Kerch school massacre?
Is Putin guilty of the Kerch school massacre?
Russia joins forces with Egypt to establish law and order in the Middle East
Is Putin guilty of the Kerch school massacre?
Russia will not let NATO warships into Sea of Azov
Is Putin guilty of the Kerch school massacre?
Russia joins forces with Egypt to establish law and order in the Middle East
Russia builds her first-ever turbojet engine for civil aviation
Russia builds her first-ever turbojet engine for civil aviation
Russia delivers technologically advanced S-300 systems to Syria
Russia delivers technologically advanced S-300 systems to Syria
Kerch college shooter grew up in dysfunctional family
Kerch college shooter grew up in dysfunctional family
Russia delivers technologically advanced S-300 systems to Syria
Russia and Germany develop anti-Polish collusion