Bloomberg News

Putin Says Gazprom, Rosneft to Remain State-Run for Now

February 07, 2012

(Updates with comment from Putin in third paragraph.)

Feb. 6 (Bloomberg) -- OAO Gazprom and OAO Rosneft, Russia’s two largest energy companies, will remain state-run for now, Prime Minister Vladimir Putin said.

The state will consider relinquishing control of its gas- export monopoly and largest oil company only when the economic situation is right, Putin said today near Moscow.

“If we just let them go, it will become very difficult to control them, prices will rise and so on,” he said.

Rosneft’s shares dropped 1.7 percent to 229.73 rubles at the close in Moscow. Gazprom’s were little changed at 189.73 rubles.

--Editors: Alex Devine, Randall Hackley

To contact the reporters on this story: Ilya Arkhipov in Moscow at iarkhipov@bloomberg.net; Jack Jordan in Moscow at jjordan22@bloomberg.net

To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net


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