Rosneft ready to sell part of gas stations in some regions

Rosneft, after purchasing Bashneft, is ready to sell part of its fuel retailing network in the regions where their share exceeds 50%, according to Head of the Russian Federal Antimonopoly Service (FAS) Igor Artemyev.

"Rosneft does not oppose selling stations In Tatarstan, Bashkiria we finish collecting papers concerning all regions. Rosneft is not against it, they are going to sell," he said in an interview with Rossiya 24 TV channel.

According to Artemyev, FAS has agreed to Bashneft privatization deal, because the overall share of Rosneft in the fuel station market does not exceed 50%. This, according to him, is a standard practice.

"We always do that, in all cases. If the share is less than 50%, we say "yes", but give special instructions. Rosneft has a share of more than 50% in regions, but here the law clearly says to reduce it below half," he explained.

In mid-October 2016, Risneft closed a deal on buying a 50.08% stake in Bashneft for 329.7 bln rubles ($5.7 bln), another 25% plus one share belong to the Republic of Bashkortostan.