Rosneft working on returning some Bashneft assets

Russia's Rosneft is working on returning come assets of oil company Bashneft, in which it controls a 69.3% stake, Rosneft CEO Igor Sechin said.

"We are working on cutting Bashneft’s costs, we have returned its oil servicing business. We are now working on returning some other assets," Prime cited Sechin as saying.

"We have filed a suit on energy assets of Bashenergo that used to be part of Bashneft (and were later swapped) for Sistema shares, that were later cancelled. Bashneft’s direct losses amounted to 106 billion rubles excluding differences in currency rates. The authorities of the republic of Bashkortostan and other minorities of Bashneft support our position," he added.