Oil major LUKOIL has told the Russian government it wants to buy smaller rival Bashneft as the state prepares to sell either a controlling or minority stake in the firm to plug a budget deficit, sources told Reuters. The government of President Vladimir Putin has ordered a privatisation drive to cover a yawning hole in its budget, which has been hit by tumbling crude prices and Western sanctions over Moscow’s role in the Ukraine conflict. The state owns 75 percent of Bashneft, which it nationalized just two years ago. It is considering whether to sell a stake of more than 50 percent, or to limit the sale to 25 percent through a stock market offering, several […]