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Rosneft Lobbies Putin for State’s 20% Stake of Novorossiysk Port

OAO Rosneft is seeking President Vladimir Putin’s backing to buy the state’s 20 percent of Russia’s largest port operator, according to a letter obtained by Bloomberg.

OAO Novorossiysk Commercial Sea Port’s infrastructure would help the state-controlled oil producer to develop offshore resources in the Black Sea, Rosneft Chief Executive Officer Igor Sechin wrote in an Oct. 10 letter to Putin. Rosneft’s press service declined to comment on the letter. The government plans to divest its stake this year as part of an asset-sale program.