Building a world of
resilient communities.

MAIN LIST

 

New snag to Gazprom-Rosneft merger

The absorption of Russian state-owned oil company Rosneft by the gas giant Gazprom appears to have run into trouble amid press reports yesterday of furious infighting among top Kremlin officials over the deal.

The Kommersant business daily published a letter from Rosneft chief Sergei Bogdanchikov to President Vladimir Putin dated September 20, in which he demanded that his company retain rights to its name and seats on the board of the new entity.

Rosneft's board is headed by Igor Sechin, the deputy head of the Kremlin administration. He is seen as a hawk and has clashed with the liberal members of Putin's inner circle.

Gazprom's board includes Sechin's direct boss, Dmitry Medvedev. He has instead proposed making Rosneft into a daughter company of Gazprom, the world's largest natural gas producer.

Kommersant reported that Putin had instructed the head of the state property management agency to look into the dispute.

The initial deal struck last month would have increased the state's stake in Gazprom from 38 percent to 51 percent.

Analysts said Rosneft's proposal would scuttle those plans.
"This implies that the development is now likely to be delayed," the United Financial Group said in a research note.

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.


The Real EROI of Photovoltaic Systems: Professor Hall Weighs in

The EROI of our various energy options, and its associated issues, may be …

The Desperate Plight of Petro-States

Pity the poor petro-states. 

Possible Energy Constraints to Further Urbanization

How long can the trend toward urbanization continue in the face of this …

Peak Oil Review: A Midweek Update - 26 May 2016

A midweek update. Oil prices surged on Wednesday following the news that US …

Oil and Gas Activities Behind Texas Earthquakes Since 1925, Scientists Conclude

If you've felt an earthquake in Texas at any point over the last four …

But What's the REAL Energy Return of Photovoltaic Energy?

According to a recent, comprehensive study of the scientific literature (1), …

Peak Oil Review - May 23 2016

 A weekly roundup of peak oil news, including: -Quote of the week -Oil …