Source Pravda.Ru

Russian gas giant Gazprom completes purchase of oil company Sibneft

State-controlled gas giant Gazprom, has completed the purchase of Chelsea soccer club owner Roman Abramovich's Sibneft oil company for over US$13 billion (Ђ11 billion), Sibneft said Friday.

The deal, which gives President Vladimir Putin's Kremlin control over more than 30 percent of the Russian oil industry, was concluded Thursday, according to a statement posted on the Sibneft Web site, reports the AP.

P.T.