Journalists learned that the Kremlin is currently working on merging its largest oil companies into a single national super company. In this way, the dictator Vladimir Putin wants to increase his influence over the energy markets of the world and his economy.
Points of attention
- The merger of Russia's largest oil companies could increase the country's influence on the world's energy markets.
- The opposition of some company executives is a key obstacle to the implementation of this deal.
- Russia does not want to confirm this information.
What is known about Putin's new plans
Currently, it is known that official Moscow is discussing various scenarios. One of them is that the giant "Rosneft" will absorb the state producer "Gazprom Neft" — a subsidiary of the natural gas exporter "Gazprom" — and the independent company "Lukoil".
It is worth paying attention to the fact that all the mentioned companies are under US sanctions.
If such a super company really succeeds in creating it, it will become the second largest oil producer in the world after Saudi Aramco.
According to journalists, talks between leaders and government officials have already taken place, but this does not yet mean that they will reach a concrete agreement.
Speculations about mergers and acquisitions periodically surround Russia, but no major energy merger has taken place in the last decade, the publication writes.
Why the merger hasn't happened yet
According to the journalists, the key obstacle is opposition from some managers of Rosneft and Lukoil.
In addition, it is indicated that there are problems with the accumulation of funds for payments to Lukoil shareholders.
Rosneft and Lukoil denied reports of a possible merger, a representative of Rosneft even accused The Wall Street Journal that the magazine's article "may be aimed at creating competitive market advantages in the interests of other market participants."
According to insiders of the publication, the Russian dictator currently wants to mobilize the energy sector to support his military efforts.
Vladimir Putin sees a giant capable of competing with Saudi Arabia.
In his opinion, the super company can better resist Western sanctions, which complicate exports, inhibit new large oil and gas projects and reduce payments.
