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  Tuesday, January 19, 2021
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The Russian government is planning to use Rosneftegaz to further raise the state's share in energy giant Gazprom
The Russian government is planning to use Rosneftegaz, a state-owned company controlling oil giant Rosneft, to further raise the state's share in energy giant Gazprom, a government source said Monday. "So far no decision to liquidate Rosneftegaz has been made. Options are being considered for using the company to consolidate the state-controlled shares of Gazprom," a government official said. The Russian economics minister had said earlier this month that the state would control over 70% of Rosneft, Russia's No.3 oil company, following its initial public offering. The oil company used part of the funds it raised at its IPO to pay off a $7.5-billion loan granted last year by a consortium of banks.
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