ICYMI-Russia contemplating merging its oil firms into world’s 2nd-biggest crude producer

Wall Avenue Journal (gated) with the report.

In short:

• The plan into account would merge main Russian oil firms Rosneft, Gazprom Neft, and Lukoil right into a single entity to strengthen management over world vitality markets and help Russia’s financial system throughout wartime.

• The merged firm would change into the world’s second-largest crude producer, behind Saudi Aramco, and will leverage its measurement to safe larger oil costs from markets like India and China.

• The plan faces opposition from some executives at Rosneft and Lukoil and challenges in funding the acquisition of Lukoil shareholders’ stakes.

• Kremlin and firm spokespeople have denied data of such a deal or dismissed the report, with Rosneft suggesting the information could possibly be a tactic to affect rivals.

• Talks have occurred, however no resolution has been made, and the plan’s particulars stay unsure.

This text was written by Aaron Cutchburt at www.ubaidahsan.com.



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