Rosneft CEO: no grounds for share buyback now - Ifax
MOSCOW, Sept 12 (Reuters) - Igor Sechin, chief executive of
Russia's top oil producer Rosneft, said that current
market conditions did not favour a share buyback, Russian news
agencies quoted him as saying on Wednesday.
"It (a buyback) will depend on fluctuations in the share
price. For now I don't see any forecasts for such fluctuations
which would allow (us) to begin," Interfax quoted Sechin as
Last month, Rosneft's board of directors had approved the
structure and outline of a share buyback programme amounting to
up to $2 billion. The programme will run until the end of 2020
and Rosneft may cancel some of the shares if necessary.
(Reporting by Katya Golubkova, editing by Louise Heavens)
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