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. Last Updated: 07/27/2016

Rebgun's Candidacy Confirmed

Itar-TassEduard Rebgun
The court-appointed official responsible for overseeing the liquidation of bankrupt oil producer Yukos has been nominated for a seat on the board of state-controlled oil company Rosneft, Rosneft said Wednesday.

Rosneft shareholders will vote on Rebgun at their annual meeting later this year, the firm said Wednesday. Sergei Tregub, the head of Yukos' retail and marketing unit, will also run for a seat on the nine-member board.

The board has not set a date for the meeting, said Nikolai Manvelov, a Rosneft spokesman.

Analysts said Rebgun's nomination was unlikely to have a big impact on the liquidation process, given the state's influence over the proceedings, and he is not expected to be a strongly independent director at Rosneft if elected.

"It's no guarantee that he's going to be elected to the board," said Stephen Dashevsky, head of research at Aton Capital. "And even if he is, he'll play a fairly minor role."

The other nine candidates include Kremlin deputy chief of staff Igor Sechin, the current chairman; newly appointed Deputy Prime Minister Sergei Naryshkin; and Barclays Capital chairman Hans-Joerg Rudloff.

(AP, Bloomberg)