international magazine
07 / 2005


GAZPROM'S THIRST FOR OIL
GAZPROM ABANDONED ROSNEFT MERGER IN FAVOUR OF SIBNEFT?



The cancellation of merger with Rosneft will not prevent Gazprom from expanding its oil business. In the end of May it was already rumoured that the management of Gazprom negotiated a purchase of a controlling interest in Sibneft with principal shareholders of the oil company. In July these rumours proved true, as the President of Russia Vladimir Putin said that Sibneft's owners had informed him of their intention to sell the business, while Basmanny court of Moscow ordered a release of 14.5% company's shares owned by Yukos.