Russian oil producer Bashneft, which was just returned to the state from the previous owner, investment holding AFK Sistema, is not to be privatized any time soon. "Over a three-year horizon ... the likelihood of a [privatization] deal is small," Olga Dergunova, head of Rosimushchestvo, the Federal Agency for State Property Management, was quoted as saying Friday. However, she did not exclude that the timing could change depending on market conditions. Current low oil prices could make any quick privatization sale challenging.
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