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. Last Updated: 07/27/2016

Oil Firms to Sell Shares

MOSCOW () -- Small blocks of shares in two Russian oil companies, Varyeganneftegaz and Samotlorneft, will be offered at local cash auctions in October.

According to a list prepared by the Russian Federal Property Fund and obtained by The Moscow Times on Friday, a 0.07 percent stake in Samotlorneft will hit the auction block Oct. 6, and a 0.18 percent share in Varyeganneftegaz will be sold off Oct. 13. The local property fund in the Siberian region of Khanty-Mansiisk will run both auctions, which are designed to cover privatization expenses.