ICYMI-Russia considering merging its oil companies into world’s 2nd-biggest crude producer ...Middle East

Wall Street Journal (gated) with the report.In brief:The plan under consideration would merge major Russian oil companies Rosneft, Gazprom Neft, and Lukoil into a single entity to strengthen control over global energy markets and support Russia’s economy during wartime.The merged company would become the world’s second-largest crude producer, behind Saudi Aramco, and could leverage its size to secure higher oil prices from markets like India and China.The plan faces opposition from some executives at Rosneft and Lukoil and challenges in funding the acquisition of Lukoil shareholders' stakes.Kremlin and company spokespeople have denied knowledge of such a deal or dismissed the report, with Ro

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ICYMI-Russia considering merging its oil companies into world’s 2nd-biggest crude producer ...Middle East

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