Deal between TNK and BP will be good for Russian oil market - Fridman
Published:
22 February 2003 y., Saturday
The deal between the shareholders of the Tyumen Oil Company and British Petroleum (BP) to create a large oil producing structure will have a positive impact on the Russian oil market as a whole, said Mikhail Fridman, president of Alfa Group.
Fridman believes that a large investor like BP will increase the capitalization of all Russian oil companies.
"The deal was made at prices that are 35% higher than the current market value of TNK shares, and therefore there will be a correction on the market in a very short period of time," Fridman said.
He believes that the main plans for the new structure will be to increase production. The sales markets are Central and Eastern Europe, he said. In addition, there are plans to develop gas deposits. At the same time, the company has no specific plans yet. "We are currently at a stage at which the deal is just being made," Fridman said.
He also expressed his confidence that the deal will get support from the Russian government. During negotiations with BP, consultations were conducted "with all top officials of our country and it would not have taken place without their approval," he said.
Šaltinis:
Interfax
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
A specific EU budget line for the new EU stabilisation mechanism should be created as soon as possible, to ensure its credibility, Council, Commission and Parliament negotiators agreed at a three-way meeting on Wednesday.
more »
New EU rule will help phone-users avoid astronomical bills for web-surfing and downloads abroad.
more »
The Communication approved today by the Commission builds on the principles presented on 12 May to reinforce the economic governance in the European Union.
more »
Eurostat report just published shows that the crisis has brought some lower taxes.
more »
New legislation is needed to ensure fair returns to farmers and transparent prices to consumers, by enforcing fair competition throughout the food supply chain, said Agriculture Committee MEPs on Monday.
more »
Fish imports play a crucial role in supplying the European market, yet fisheries and aquaculture are strategic sectors that do not lend themselves to a purely free-trade approach, believes the EP Fisheries Committee.
more »
I will support every proposal that strengthens cooperation among the European Union's Member States and serves Lithuania's interests," President of the Republic of Lithuania Dalia Grybauskaitė said at the meeting with EU Member States' ambassadors resident in Lithuania.
more »
The fourth World Lithuanian Economic Forum “High tech innovation & investment: local to global” will start in London on 22 June.
more »
Lithuania aims for the five Nordic countries and three Baltic States to become single community of values, which would be linked by a versatile quality of democracy, security and everyday life.
more »
MEPs decided on Wednesday to create a special committee to prepare for the EU's next long-term budgetary framework.
more »