CNPC eyes up Rosneft privatisation

Rosneft privatisation: China’s largest integrated energy company, the  state-owned China National Petroleum Corporation (CNPC), is considering buying a stake in Rosneft when it is put up for privatisation later this year, according to its  First Vice President Wang Zhongcai. A working party had already been set up to discuss the move which is due to  discussed by Presidents Putin and Xi when they next meet, probably this summer, he said.
CNPC is already a Rosneft shareholder after buying a 0.7% stake in the company for $500m back in 2006. Acquiring the Russian government 19% stake is expected to cost $3bn.
With the Russian economy being battered by a combination of low oil prices and sanctions, several other major state-run enterprises are also expected to be put up for sale later in the year, including
 Bashneft, VTB, Sovcomflot and Alrosa.

Source: Interfax