THE TIMES (UK): £1bn payout oils talk of Sibneft deal
“A press report in Kommersant, a Moscow financial newspaper, suggested that a bid for Sibneft by Gazprom in collaboration with Shell was imminent. The giant Russian utility is in talks with the Anglo-Dutch oil company over the swap of a stake in Shell’s gas project in Sakhalin and a share in Zapolyarnoye, a large Siberian gasfield owned by Gazprom. Neither Shell nor Gazprom commented on the rumour.”
Tuesday 5 July 2005
By Carl Mortished, International Business Editor
MOSCOW is agog with takeover rumours concerning Sibneft, the oil company controlled by Roman Abramovich, which yesterday announced a record £1.3 billion dividend payment to its shareholders.
The scale of the cash distribution, which is almost double the oil company’s profits in 2003, has prompted speculation that Sibneft’s owners are taking funds from the company ahead of a sale.
A press report in Kommersant, a Moscow financial newspaper, suggested that a bid for Sibneft by Gazprom in collaboration with Shell was imminent. The giant Russian utility is in talks with the Anglo-Dutch oil company over the swap of a stake in Shell’s gas project in Sakhalin and a share in Zapolyarnoye, a large Siberian gasfield owned by Gazprom. Neither Shell nor Gazprom commented on the rumour. read more
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