Russia delays sale of stake in oil firm Bashneft

• Russia's government says it is delaying plans to sell a stake in regional oil producer Bashneft, citing a weak market and the state’s plan to sell other assets this year, including nearly 20% of Rosneft (OTCPK:RNFTF), Russia’s largest crude producer; it is not known when a sale might take place.
• Russia had planned to sell as much as a 50% stake in Bashneft this year to increase budget revenue that has been depleted by weak prices for crude oil.
• Rosneft had been considering a bid for Bashneft, although Pres. Putin reportedly banned it from participating in the sale; Lukoil (OTC:LUKOF, OTCPK:LUKOY), Russia’s biggest non-state crude producer, also expressed an interest in buying a controlling interest.