Russia's largest state-owned oil company Rosneft should be privatised by 2016, Russian prime minister Dmitry Medvedev has said.
Speaking at a meeting on the federal government's property privatisation plan on Thursday, Medvedev noted that the leading oil company, as well other state energy firms should be "removed from direct government control by 2016."
During the discussion, deputy prime minister Arkady Dvorkovich proposed that Rosneft's investment in fuel and energy firms should not become an automatic practice unless it is deemed expedient.
Responding to this proposal, Medvedev agreed that Rosneft's investment should be based on the principles of expediency and should gain government approval.
According to its website, Rosneft has been included in the Russian government's List of Strategic Enterprises and Organizations. Rosneft is 75 per cent owned by the government.