Bashkiria can get a stake in Bashneft

UFA, 21 January 2015. /Bashinform News Agency, Elvira Latypova/. A part of the Bashneft’s company shares returned to the federal ownership as a result of litigation in December can be assigned to Bashkortostan. The Ministry of Energy, Ministry of Economic Development of Russia and the Federal Property Management Agency does not object to this assignment. This is reported by the media, citing sources in the Ministry of Energy.

"The position of the Russian Ministry of Energy was brought to notice of the Ministry Economic Development. According to this position, the Russian Energy Ministry has no objection to the transfer of Bashneft’s shares to the ownership of the Republic of Bashkortostan. The Ministry of Economic Development and the Federal Property Management Agency also do not oppose to the assignment of Bashneft’s shares to Bashkiria’s property", the Interfax cites the words of the representative of the Ministry of Economic Development.

The expected size of stake is not specified.

Discussion on the possible transfer of Bashneft’s shares to Bashkortostan ownership was initiated by the leadership of the republic.

JSOC Bashneft is a vertically integrated oil company that operates in more than 20 regions of Russia and abroad. In early December, the company was transferred from JSFC Sistema to the ownership of the Russian Federation.