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 European Commission has approved, under EC Treaty state aid rules, an Italian framework temporarily adapting certain existing risk-capital schemes to increase companies' financing possibilities during the current economic crisis.
more »
The European Commission has authorised, under EC Treaty state aid rules, a Maltese measure to help businesses to deal with the current economic crisis.
more »
We're making progress. That's the word from Treasury Secretary Tim Geithner about settling the financial markets.
more »
According to a new report released by NextGen Research, global markets for financial kiosks and enhanced ATMs will grow at a compound annual rate of 9 percent, to include more than 186,000 financial kiosks and nearly 2.5 million ATMs by 2013.
more »
Non-farming Latvians are buying pigs to beat the economic crisis.
more »
Is your money well spent at EU level? Every year, in April, the EP concludes its examination of EU spending for the financial year closed 16 months previously.
more »
In the construction sector, seasonally adjusted production1 decreased by 1.0% in the euro area2 (EA16) and by 2.1% in the EU272 in March 2009.
more »
Between 2000 and 2008, EU27 trade in goods with Russia more than tripled in value, with EU27 exports to Russia rising to 105 bn euro in 2008 from 23 bn in 2000.
more »
The European Commission has launched today a call for proposals covering key energy infrastructure projects such as energy interconnections, offshore wind energy and carbon capture and storage as part of the implementation of the EEPR.
more »
During its plenary session on 13 May 2009, the European Economic and Social Committee adopted a key opinion on responding to the crisis in the European automotive industry.
more »