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Monday March 07, 07:25
Russian energy companies disagree on merger
(by Dr. Goldfinger)

Russian energy companies disagree on merger

Russia’s state energy companies disagreed openly about their planned merger, raising questions over the details of the deal and demonstrating a split within the Kremlin leadership over the question in whose hands the world’s richest oil and gas reserves would be concentrated.

Just a day after an official statement on merger was released, gas giant OAO Gazprom and state oil company Rosneft uttered different viewpoints on the same issue. Rosneft issued a news release stating that it would preserve control of its assets, while Gazprom’s CEO said in public that the merger is still under way. The Kremlin, regarded as the final arbiter in this case, made no public comment.

The Interfax news agency reported on March 3 the statement of a Rosneft representative saying that the company’s news release was a mistake though Rosneft’s officials declined to comment.

A Gazprom representative announced that the deal would be made as planned and Gazprom would get all Rosneft’s assets except Siberian giant Yuganskneftegaz.

Since the Kremlin has shown a great interest in energy sector turning out to be the core of Russia’s economy, a number of conflicts have emerged between the representatives of government and state-owned companies factions.

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