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.


BC Natural Gas Reserves Inflated, Revenues Overstated, Report Finds

Analyst David Hughes offers another challenge to the province's nascent …

Energy Crunch - Businesses wake up to climate action

This week, the Queen's speech assured us that the new government would …

Peak Oil Notes - May 28

Oil prices have fallen for three straight sessions this week closing …

Peak Oil in an Era of Fossil Fuel Abundance

Chris Nelder on why peak oil isn't dead.

Surge in Renewables Remakes California’s Energy Landscape

Thanks to favorable geography, innovative government policies, and …

BC LNG Lost Its Window of Opportunity, Study Finds

The window of opportunity to capture Asian gas markets has eluded proposed …

Peak Oil Review - May 26

A weekly review including Oil and the Global Economy, The Middle East & …