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Russia's Rosneft Confirms IPO Plans


http://gdb.rferl.org/D30A7C2F-4717-4100-8B0F-B60D91117E98_w203.jpg --> http://gdb.rferl.org/D30A7C2F-4717-4100-8B0F-B60D91117E98_mw800_mh600.jpg Drilling at Rosneft's Vankop oil field in Taimur (file photo) (ITAR-TASS) June 12, 2006 -- Russia's state-owned oil company Rosneft confirmed today it plans to make an initial public offering (IPO) both in London and Moscow.


The company hopes to raise up to $10 billion with the IPO, which will begin in mid-July.


Rosneft became the third biggest Russian oil company after it acquired the largest production unit of the embattled Yukos oil company in a controversial auction.


(Interfax, ITAR-TASS, AP)

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