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
According to the data presented by the Ministry of Finance, in end-January central government debt made up LTL26, 310.8 million or 28% of projected GDP for 2010 (LTL 93, 819 million).
more »
As far as countries affected by the economic crisis, China fared extremely well.
more »
The European Commission has authorised today a Slovak scheme with a budget of approximately €3.32 million which aims at supporting farmers in Slovakia who encounter difficulties as a result of the current economic crisis.
more »
Commission sets out a 10-year strategy for reviving the European economy, casting a vision of ‘smart, sustainable, inclusive' growth rooted in greater coordination of national and European policy.
more »
The European Commission has launched today the Europe 2020 Strategy to go out of the crisis and prepare EU economy for the next decade. The Commission identifies three key drivers for growth, to be implemented through concrete actions at EU and national levels.
more »
Launching of the “SCHOOLS’ initiative for innovation and changes” Grant scheme.
more »
EU Member States must not only deliver on their international aid pledges, but also bring in a financial transactions tax and a temporary debt moratorium, to help developing countries to cope with the effects of the global financial and economic crisis, said the Development Committee on Monday.
more »
The EBRD is increasing its commitments to promote sustainable energy projects in Slovakia with a new €90 million funding under the existing Slovakia Sustainable Energy Finance Facility (SLOVSEFF) to ensure continuous implementation of energy efficiency and small renewable energy projects.
more »
According to the unaudited data, in 2009 AB Bank SNORAS earned LTL 8.7 million profit. The bank’s assets grew by 11 per cent up to LTL 6.342 billion during 2009 and were by LTL 647.8 million larger than at the beginning of 2009.
more »
Aviation security measures that go beyond common EU requirements should be paid for by Member States, not by passengers, said Transport Committee MEPs in a vote on Monday that could put Parliament on a collision course with the Council of Ministers.
more »