Sergei Bogdanchikov, the president of Rosneft, Russia's state-controlled oil giant, has denied a media report that he will soon resign."I will certainly not resign, I am a Rosneft shareholder, I am Rosneft president, a member of the board of directors, I feel devotion towards it," he said on Wednesday.

Earlier on Wednesday, Vedomosti business daily quoted a banking source saying that Bogdanchikov may quit in the near future. Rumors about his resignation have appeared previously.