MOSCOW Aug 23 Igor Sechin, the chief executive
of Russia's top oil producer Rosneft, has bought his
first shares in the company, accumulating a stake worth $5.5
million, the state-controlled oil major said on Friday.
Sechin, a long-time ally of Russia President Vladimir Putin
and considered by some Kremlin watchers to be the second most
powerful man in the country, bought a 0.0075 percent stake in
A Rosneft spokeswoman said Sechin had invested his bonus to
buy the shares.
"It is a part of the company's corporate culture -
executives believe in the growth of the company's value and are
interested in the result personally," she added.
Sechin has masterminded strategy at Rosneft since first
becoming the company's chairman in 2004. Under the 52-year-old's
leadership it has become the world's largest listed oil company
by output and has a market value of $73.2 billion.
In his most recent coup, Rosneft bought TNK-BP for $55
billion in Russia's largest takeover. He has also struck
strategic exploration deals with ExxonMobil, Eni
As part of the TNK-BP deal, British oil major BP
raised its stake in Rosneft to nearly 20 percent. The state owns
69.5 percent through Rosneftegaz, the holding company also
chaired by Sechin.