A Rosneft proposal sent to the country’s Economic Development Ministry said an independent estimate valued its holdings in Chechnya at 12.5 billion rubles ($212 million), according to Moscow business daily Kommersant.
The key Chechnya asset that Rosneft intends to sell is its 51% controlling stake in oil producer Grozneftegaz, which reported output of about 1.28 million barrels last year.
Other assets that may be transferred to local authorities include a network of gasoline stations operated by a Rosneft regional marketing subsidiary.
