RusEnergy

23 January 2007 - Upstream onLine - Russia could sell off another 25% of state-controlled oil company Rosneft in a share offer, it was reported today. The Interfax news agency quoted Valery Nazarov, the head of Russia's state property agency, as saying: "We think it's enough if Russia keeps a controlling stake in Rosneft. The most likely option for distributing more Rosneft shares would be to carry out the second stage of the public offering on the market. "Up to 25% of Rosneft's shares could be distributed. When exactly this will happen depends on the market situation and a decision by the government," Nazarov said. Last year, Rosneft's initial public share offer, in which the government sold about 15% of the shares, raised $10.6 billion, making it the fifth-biggest IPO ever, Reuters reported.