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
The mission held constructive discussions with Prime Minister Emmanuel Nadingar, Finance Minister Gata Ngoulou, Infrastructure Minister Adoum Younousmi, and other senior officials.
more »
The EBRD is helping to improve the quality of power supply and stimulate renewable sources of energy in the Caucasus with an €80 million sovereign loan to Georgia for the construction of a new high voltage transmission line - the Black Sea High Voltage line, which will interconnect Georgia and Turkey.
more »
The EBRD is helping to improve the infrastructure of the Georgian capital, Tbilisi, with a €100 million loan for the construction of a new railway route bypassing the city.
more »
One of the men considered to be the founding fathers of the euro currency met MEPs on the Foreign Affairs Committee Tuesday (16 March) to talk about transatlantic relations.
more »
European Trade Commissioner Karel De Gucht today opened a conference focused on the European Union's trade policy towards developing countries.
more »
At the beginning of the 2000s, state ownership in financial intermediation in Mexico accounted for about 20 percent of the total credit of the banking system, provided through development financial institutions and funds.
more »
Halving the number of business failures by offering individual support, doubling the number of young people who want to start their own business or raising by 500% the number of enterprising new cooperatives are just some of the projects nominated for the European Enterprise Awards 2010.
more »
The European Commission has published the fourth call for proposals for the creation and upgrade of freight transport services under the second Marco Polo programme.
more »
The European Central Bank (ECB) today announced a programme of technical cooperation with the Central Bank of Bosnia and Herzegovina, in collaboration with a number of euro area national central banks (NCBs).
more »
The EU disbursed today €1 billion to Romania, the second instalment of a €5 billion loan, which was agreed in May 2009 as part of a multilateral financial assistance package.
more »