Russia » Economics

"Sibneft" goes to France

French oil company “Total” received preliminary approval from Russian officials to purchase 25% of "Sibneft" shares, states British newspaper “Financial Times” with reference to anonymous sources.

Russian support, in case it will last, will allow the French to surpass American ChevronTexaco, ExxonMobil and Royal Dutch/Shell, reports “Interfax” with a reference to the British newspaper.

According to the newspaper, in case Russian authorities will firmly adhere to their position, ChevronTexaco, ExxonMobil and Royal Dutch/Shell will lose their chance to sign a deal with “Sibneft”.

That is why, according to The Financial Times, Washington reacted negatively. As it is stated, American administration is “frustrated” at the news of the possible deal between Total and “Sibneft”, informs “Gazeta.ru.”

Earlier, FT reported that the main shareholder of “Sibneft” Roman Abromovich had carried on negotiations with companies such as Royal Dutch/Shell, ChevronTexaco and Total regarding the sale of 46% of “Sibneft” shares.

Experts claim that the deal is worth $1 billion USD.

Currently, 92% of “Sibneft” shares belong to “Yukos”. However, the parties have not discussed the actual terms of the company's split yet, reports AK&M.    

 

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