13 Jul 2011 11:06

Rosneftegaz to purchase fuel from oil firms for reserve at market prices - Shmatko

MOSCOW. July 13 (Interfax) - Rosneftegaz will purchase fuel from oil companies for reserve at market prices, Energy Minister Sergei Shmatko told journalists on Wednesday.

"This will exclusively be a market approach. Rosneftegaz will be the base company," he said.

Shmatko added that Rosneftegaz will acquire petroleum production on its own funds or through loan resources. "Nothing will be allocated from the budget. Rosneftegaz will carry out purchases either with its own funds or through loan resources," he said.