Russian energy czar Sechin takes helm at Rosneft

Print version
May 22, 2012, 7:39 p.m. |

Russian Prime Minister Dmitry Medvedev, right, meets with Igor Sechin, appointed as CEO of state-controlled Russian oil company Rosneft, in Moscow, on May 22, 2012.
© AP

MOSCOW — Russia's energy czar Igor Sechin on May 22 was named to lead the country's largest oil company, state-controlled Rosneft. Prime Minister Dmitry Medvedev made the announcement at a meeting with Sechin, part of which was televised.

Sechin, who until recently served as deputy prime minister, is considered the most influential man in Russia's energy industry. A close ally to President Vladimir Putin, he personally oversaw all major energy agreements in Russia including the multi-billion Arctic deals between Russia, ExxonMobil and Eni and Statoil. The oil industry has credited him for lobbying for privileges for their companies and projects.

Sechin replaces Eduard Khudainatov, who has served as the chief executive since September 2010. Khudainatov, who retains the post of the company's president, had been regarded as more of a technical figure reporting to Sechin.

Sechin worked both in the government and as Rosneft chairman from 2006 to 2011, when he had to step down, complying with the president's order to purge state-controlled companies of officials in top jobs.

He did not receive any job in the new Russian government which was formed on Monday, although analysts said he would likely retain his influence on the industry.

Shares in Rosneft, where the government owns slightly more than 75 percent, surged 2.6 percent on the news, outperforming the market. Immediately after the announcement, Rosneft shares were up almost 4 percent.
The Kyiv Post is disabling its online comment section due to an increase in trolls, violent comments and other personal attacks. Other news organizations worldwide have taken similar steps for the same reasons. The Kyiv Post regrets having to take this action. The newspaper believes in a robust public debate, but the discussion must be constructive and intelligent. For the time being, the Kyiv Post will allow comments on its moderated Facebook group The newspaper will consider hosting online comments again when circumstances allow. Thank you from the Kyiv Post.


© 1995–2015 Public Media

Web links to Kyiv Post material are allowed provided that they contain a URL hyperlink to the material and a maximum 500-character extract of the story. Otherwise, all materials contained on this site are protected by copyright law and may not be reproduced without the prior written permission of Public Media at
All information of the Interfax-Ukraine news agency placed on this web site is designed for internal use only. Its reproduction or distribution in any form is prohibited without a written permission of Interfax-Ukraine.