Thursday, July 28, 2016

“Tatneft” has applied for the privatization of “Bashneft” – BUSINESS Online

28.07.2016

«Tatneft” has applied for the privatization of “Bashneft” investment consultants, who spoke of “VTB Capital.” In addition, according to “Kommersant”, the application is filed and the little-known “Tatneftegaz».

Production of “Tatneft” in the past year amounted to 27 million. Tons of oil. Net profit under IFRS for the past year -. About 99 billion rubles, revenue 553 billion rubles.. “Bashneft” in 2015 produced 19 million. Tons of oil. The company’s revenue -… 611 billion rubles, net profit of 58 billion rubles

As stated “Kommersant”, two sources familiar with the deal, in the present situation of “Tatneft” will be difficult to find about $ 4 billion on. purchase of “Bashneft”, according voiced plans Tatar companies in the coming years. So, in 2017 the company has to modernize oil refining complex TANECO, which is planned to spend 196 billion. Rubles.

It is noted that the privatization of “Bashneft” especially sharply raised the question of whether state-owned companies to be present in such transactions, as well as in general on the status of state-owned companies in the fuel and energy sector. In February, the President of the Russian Federation Vladimir Putin has formulated the main rules of the new privatization, saying that the assets should go into the “private hands”. In particular, so in early summer the most likely contender for the “Bashneft” has been LUKOIL. Nevertheless, the president’s words have not prevented “Rosneft” to apply for participation in the privatization. Other contenders for the asset – Russian Direct Investment Fund (its founder is the VEB) with foreign partners, as well as NOC Eduard Khudainatov

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