Sechin has made preferential dividends to the largest shareholder of “Rosneft”


By decision of the President

Rosneftegaz, which owns shares of “Rosneft”, “Gazprom” and “inter RAO” will pay to the Federal budget no more than 25% of the profits, reported “Interfax” citing a source and confirmed by two employees of the Ministry of economic development. In a press-service “Rosneft” (the company’s Board of Directors is headed by the President of the oil company Igor Sechin) on the request is not answered.

The norm about payment state-owned companies at least 25% of the profit fixed by the government from 2012. The Ministry of economic development and the Ministry of Finance has prepared amendments to increase the minimum payout to 50%. The former head of Rosimushchestvo Olga Dergunova in February, also spoke about the proposal to raise the bar for state-owned companies on dividends from 25% to 50% and estimated the additional revenue budget of 110 billion rubles.

Although not yet approved by Prime Minister Dmitry Medvedev, the norm about 50% the government is planning to apply this year, said two Federal officials. For example, the boards of Directors of “Gazprom” and “inter RAO” recommended to shareholders to direct for dividends 43 and 50% of the profits respectively. A possible increase in dividends from 25 to 50% by the end of 2015, said in March the representative of “RusHydro”.

According to the interlocutor of “Interfax”, the decision to save for Rosneftegaz norms of 25% was received by President Vladimir Putin. “There was an appeal from Rosneftegaz to the President on the dividend. There is definitely a positive resolution, so the question actually decided, further discussion of the question”, — said the source Agency.

Than owned Rosneftegaz

The main assets of Rosneftegaz — or 69.5% of Rosneft shares, about 11% of “Gazprom” and 27.6% “inter RAO”. The company will accumulate their dividends according to their share and operating activities. Putin also signed last year a decree on the transfer to the Charter capital of Rosneftegaz shares 13 other Energy sector companies, mainly research institutes.

Rosneftegaz only time was paying dividends of more than 25% of their profits in 2013, the company had paid 95% of its revenue, or 80 billion rubles After that, the dividend does not exceed 25%, including the company gave only a quarter of the 148 billion rubles received from the sale for 5.66% of Rosneft shares to BP.

Why “Rosneftegaz” money

“Rosneftegaz” need money for solving investment problems, says the source, “Interfax” the employee of the Ministry of economic development. According to them, the company ended the year 2015 with a profit of 72,1 billion rubles, 25% of this amount, 18 billion rubles, According to the swelling of the company for 2014 (no more recent data) on Deposit at “Rosneftegaz” on January 1, 2015 there were more than 200 billion rubles.

Official in the Ministry of economic development knows that “Rosneftegaz” need funds for projects in the electricity and in the far East, and the construction of shipyard “Star”, owned by “Rosneft”. Details, he did not disclose.

The largest project of Rosneft in the far East — the construction of facilities of Eastern petrochemical company (VNHK) and shipyard “Zvezda”. “Inter RAO” is building in the Amur region erkovetskoe the TPP to export electricity to China.

Last week it became known that the nominated Sechin to the Board of Directors of RusHydro. “The company in the far East built several new facilities, such as Nizhne-Bureyskaya HPP (320 MW) in the Amur region and the thermal power station “East” in Vladivostok, and modernized existing facilities.

Given the complexity of the work on the search of budget revenues and spending cuts budget “is in need of any income, says the head of direction “Fiscal policy” the Economic expert group Alexandra Suslina. “As a percentage of income it is small quantity, but in absolute terms — not,” she adds.