Rosneft to be restructured

Rosneft to be

restructured

THE RUSSIAN state-owned oil company, Rosneft, will be restructured financially and its management will be reshuffled to ensure that the company's privatisation does not fail for a third time, the deputy premier, Boris Nemtsov, said yesterday.

Gruppa Alyans, the Russian consultancy appointed last week to manage Rosneft, will overhaul the company's finances, ensure timely payment of its federal budget dues and improve its efficiency ahead of its sell-off on 27 October, Mr Nemtsov said.