May 22, 2014 / 10:59 AM / in 3 years

No urgent need to privatize Rosneft: Russian deputy PM

ST PETERSBURG, Russia (Reuters) - There is no urgent need to privatize oil company Rosneft (ROSN.MM)> this year, Russia’s Deputy Prime Minister Igor Shuvalov said on Thursday.

Russian First Deputy Prime Minister Igor Shuvalov takes part in the Reuters Investment Summit in Moscow September 23, 2013. REUTERS/Sergei Karpukhin

“There is no urgent need now at all,” he told journalists at the St Petersburg International Economic Forum. “There are none of the preconditions for going onto the market and for negotiating now with potential buyers ... The budget situation is stable for now and there is no need for additional revenues from such an urgent sale.”

Russian officials have said in recent days that the government may privatize a 19.5 percent stake in the state-owned oil giant as early as this autumn or in 2015.

Reporting by Daria Korsunskaya, writing by Jason Bush, editing by Elizabeth Piper

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