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. Last Updated: 07/27/2016

Rosneft Board Shuffle

MOSCOW -- The government plans to replace several board members at Rosneft, the state-owned oil giant that will be auctioned off in October, a government source said Tuesday.

A clause on changes in the board of directors will be included in the upcoming government resolution on introducing external managers for Rosneft, the source said.

The managers, Russian consultancy Alyans Group, were brought in last week to whip Rosneft's finances into shape and improve the company's efficiency to ensure efforts to privatize the firm for a third time do not fail Oct. 27.