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Sechin Says Rosneft Worth Up to $130 Billion as Putin Mulls Sale

  • CEO opposes privatization via stock offering to market
  • Sees oil prices likely rising to $65 a barrel by end of 2017

Russia’s Rosneft PJSC could be worth as much as $130 billion, Chief Executive Officer Igor Sechin said as President Vladimir Putin is reported to consider selling a stake in the state oil giant to China and India.

The producer is “not afraid” of Chinese partners, including China Petroleum & Chemical Corp. and China National Petroleum Corp., Sechin told state television station Rossiya-24, citing existing partnerships with both companies. Rosneft is not currently talking to Chinese or Indian companies about a stake sale though, he said. The company’s current market value is about $55 billion.