Russia: Gazprom Neft Acquisition of Sibir Approved

 In the summer 2009 "Gazprom Neft-3S", a subsidiary company, has submitted a request to the antimonopoly administration for the permission to purchase up to 100% of voting shares of Sibir Energy. The approval of the document has been delayed due to assessments of the probabilities of limiting the competition as a result of the deal.

Sibir Energy is a Russian oil and gas producing enterprise registered in Great Britain in 1996. All the company's assets are located in Russia. Jointly with Shell it co-owns the company Salym Petroleum Development (SPD). Sibir Energy has licenses for 8 plots of the Koltogorsk group in Ugra and a chain of 134 filling stations in Moscow and Moscow Oblast working under the MTK and "Nefto" brands. "Gazprom neft", the government of Moscow, and minority shareholders are key shareholders in the company.

OJSC "Gazprom neft" runs operations in Ugra, Yamal, the Tomsk and Omsk Oblasts. The company includes more than 40 oil producing, refining, and retailing companies in 18 regions of Russia and former USSR countries. "Gazprom neft" products are exported to 48 countries of the world and sold in Russia through the extensive network of own retail companies.

PetrolWorld 150110   Source: RusBusNews