Support The Moscow Times!

Rosneft Boosts Stake in Field

Rosneft boosted its stake in the unit that holds the licenses to oil and gas fields in eastern Siberia for 9.3 billion rubles ($316 million), the state-controlled oil producer said Thursday.

Rosneft consolidated a 99.9 percent stake, up from 70.8 percent, in Eastern Siberian Oil and Gas, which has licenses to the Yurubcheno-Tokhomskoye oil field and Agaleyevskoye gas field, after buying shares held by Montenore Investment and minority investors under a mandatory offer.

Rosneft also closed a deal to acquire 35.3 percent of the Taas-Yuryakh field in a nearby region from state-controlled Sberbank for $444 million.


… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.


Read more