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Rosneft CEO: No Plans to Buy Oil Assets in Russia

Posted by October 29, 2014

Igor Sechin (Photo: Rosneft)

Igor Sechin, chief executive of Russia's top crude oil producer Rosneft, said on Thursday he does not see any oil assets inside the country that could be an attractive purchase for the company.

Last month's seizure by a Russian court of shares in oil company Bashneft, owned by the conglomerate Sistema, has fuelled market speculation that Rosneft was interested in purchasing Bashneft.

"Rosneft will certainly develop, within its capabilities and offers that will come up on the market," Sechin said in an interview with the state-run Rossiya 24 news channel.

"We will consider projects that could bring additional synergies, especially on the basis of effectiveness. Right now, we do not see such proposals. Therefore, it is premature to discuss any interests, if there are no offers."

The seizure of shares of Vladimir Yevtushenkov, Sistema's chairman, in Bashneft, have raised concerns the Russian authorities will try to take control of Bashneft. Rosneft is a state company.

Yevtushenkov was put under house arrest on suspicion of money laundering during the telecoms-to-oil conglomerate's acquisition of Bashneft. Sistema denies the accusations. On Friday, a Moscow court is to consider prosecutors' demand to return Sistema-owned shares in Bashneft to the state.

Sechin also said earlier on Thursday, that Rosneft has no plans to acquire shares in Lukoil. Earlier, Russia's second largest oil company, Lukoil, denied a report that one of its shareholders, Leonid Fedun, planned to sell his 9.77 percent share in the company, possibly to Rosneft.

(Reporting by Vladimir Soldatkin,; Writing by Lidia Kelly, editing by David Evans)

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