Russia's largest oil company, Rosneft, should be completely removed from state control by 2016, Prime Minister Dmitry Medvedev said on Thursday at the opening of a government meeting on changes to the federal property privatization plan.
"Also on the list are the largest state energy firms, oil companies, very large producer corporations, including Rosneft, which should be completely taken out of direct state control by 2016," Medvedev said.
Medvedev said the modified privatization plan includes the list of share stakes in the largest companies which must be privatized by 2016.
Economic Development Minister Andrei Belousov said the government plans to completely sell its stakes in major state-owned companies by 2016, including a 75 percent stake in Russia’s second largest bank VTB, a 100 percent stake in Russian Agricultural Bank, a 99.99 percent stake in Rosagroleasing, a 100 percent stake in Sovcomflot, an 83 percent stake in Sheremetyevo international airport, a 51 percent stake in Aeroflot and a 100 percent stake in United Grain Company.
The government also plans to relinquish control of diamond miner Alrosa, RusHydro hydropower operator, Rosneft oil major, Zarubeszhneft overseas oil projects operator and InterRAO power utility trader, Belousov said.
The Russian government plans to get about 300 billion rubles ($9 billion) from privatizations in 2012, Belousov said.
“Privatization continues in 2012 in relation to some 300 enterprises and share packages and 950 joint stock companies. Overall, we plan to get about 300 billion rubles this year,” he said.
The government will offer about 200 small and medium-sized joint stock companies for privatization by September 1, 2012, he said.
The government is making preparations with the participation of investment advisers to sell a 20 percent stake this year in Russia’s largest apatite concentrate producer Apatit, a 100 percent stake in the country’s biggest liquefied natural gas rail carrier SG-Trans, and also share packages of the Murmansk Merchant Port, Sibir airline, the Vanino Merchant Port, the Arkhangelsk trawl fleet and TGK-5 power utility, Belousov said.
First Deputy Prime Minister Igor Shuvalov said at the meeting it was expedient to retain control of Russia’s largest retail savings bank, Sberbank, in which the Russian Central Bank holds a 57.6 percent stake.
The Central Bank planned to sell a 7.6 percent stake in Sberbank last fall but delayed its plans due to unfavorable market conditions.
Minister for Relations with the Open Government Mikhail Abyzov said the government should reduce its stake in Sberbank to a blocking stake by 2015 as was stipulated in the 2020 Strategy.
Belousov said the Economic Development Ministry estimated the pending sale of a 7.58 percent stake in Sberbank at over 100 billion rubles ($3 billion) and the sale of a blocking stake of 25 percent minus one share in Sovcomflot at 25-27 billion rubles.
