Wall Avenue Journal (gated) with the report.
In short:
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The plan into account would merge main Russian oil firms Rosneft, Gazprom Neft, and Lukoil right into a single entity to strengthen management over international vitality markets and assist Russia’s economic system throughout wartime.
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The merged firm would change into the world’s second-largest crude producer, behind Saudi Aramco, and will leverage its measurement to safe greater oil costs from markets like India and China.
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The plan faces opposition from some executives at Rosneft and Lukoil and challenges in funding the acquisition of Lukoil shareholders’ stakes.
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Kremlin and firm spokespeople have denied information of such a deal or dismissed the report, with Rosneft suggesting the information might be a tactic to affect rivals.
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Talks have occurred, however no determination has been made, and the plan’s particulars stay unsure.
This text was written by Eamonn Sheridan at www.forexlive.com.
