MOSCOW, October 22 (RIA Novosti) - Russia's energy minister said on Thursday that no decision has yet been taken on privatizing the country's largest oil producer, Rosneft, but that the issue has been discussed in general terms.
First deputy premier Igor Shuvalov first mentioned the possibility of selling a 75% stake in the oil giant in September as the country faced a budget deficit, the first in a decade, amid the global recession.
However, Economics Minister Elvira Nabiullina later said the government would not sell its stake in Rosneft before 2011.
"I know that the idea has been discussed, but no decision has been taken. I think the [Rosneft] Board of Directors should answer this question," Sergei Shmatko told reporters.
Rosneft became Russia's largest oil company in terms of both extraction and refining after buying up the assets of former oil giant Yukos at state-run liquidation auctions.
President Dmitry Medvedev said on Wednesday that government corporations operating in competitive industries in Russia could be transformed into joint stock companies.
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