Russia may not be able to sell its stake in Rosneft in 2016 As low oil prices continue to put pressure on the Russian budget, the government in Moscow continues to look for ways to make up budget shortfalls, including the privatization of part of the state’s interest in Russian oil majors. The proposed sale of part of the state’s oil interests, along with privatization of other sectors, had been the government’s answer to raising 1 trillion rubles ($15 billion) to help prevent spending from the country’s reserves, but now the Russian government may postpone the sale of Rosneft, the country’s largest oil producer, as it waits for prices to improve. The Russian government plans to raise at least $10 billion from the sale of a 19.5 percent stake in Rosneft. Currently, the state owns 69.5 percent of the company through its parent Rosneftegaz. “For now, the plan is […]