Decision on privatizing Rosneft must consider state's offshore monopoly - ministry
MOSCOW. Jan 23 (Interfax) - The decision on privatizing state oil major Rosneft should take into consideration the monopoly that state companies have on the continental shelf under current legislation, Deputy Natural Resources and Environment Minister Denis Khramov told reporters on Wednesday.
"If Rosneft stops meeting the criteria set down in the law, it will automatically stop being on the list of companies allowed to work on the shelf," Khramov said.
He recalled that one of the criteria under which Rosneft could lose the right to develop offshore fields under current legislation is if the government's stake in the company falls below 50%. "This is if it will be registered in another country or if the government will have less than 50% control in it," Khramov said.
"Then it already can't be given anything. Therefore, the decision on privatization must be made taking into account these suggestions," Khramov said.