Russia's Gazprom to Set Up Holding Company
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Directors at Gazprom, the largest natural gas company in the world, approved the creation of an oil holding company Friday, setting the stage for the creation of a state-controlled oil and gas giant and cementing the Russian government's influence in the politically important oil sector.
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By Arkady Ostrovsky in Moscow, James Boxell in London and Doug,Cameron in Houston. Gazprom, Russia&#39;s state-backed gas monopoly, could team up with one of the major international oil groups in a bid for the
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Russian president Vladimir Putin has backed plans to end restrictions on the foreign ownership of shares in Russian energy giant Gazprom.
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OAO Gazprom, the world&#39;s largest natural gas producer, will bid for OAO Yukos Oil Co.&#39;s biggest oil unit next month and may buy other Russian producers in an effort to create an oil business as big as Exxon Mobil Corp.
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OAO Gazprom, the world&#39;s biggest natural-gas company, will borrow $10 billion from six banks led by Deutsche Bank AG to help finance a bid for OAO Yukos Oil Co.
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The Russian gas giant Gazprom said its board of directors had given its go-ahead for the state-controlled firm to bid for the main production unit of embattled oil group Yukos.
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General view of Gazprom headquaters is seen, in Moscow, on Friday, Dec. 17, 2004. The oil wing of Russia&#39;s state-controlled natural gas giant Gazprom does not intend to pull out of this weekend&#39;s auction of
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Russian gas export monopoly Gazprom  plans to buy around 50 percent of the Shell-led Sakhalin-2 oil  and gas project for cash and assets, its chairman, Dmitry  Medvedev, said on Tuesday.
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The merger between state-controlled natural gas monopoly Gazprom and state-owned Rosneft Oil Company will proceed in January 2005 as planned.
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Russia&#39;s Gazprom natural gas monopoly said Monday that the chief executive of a state oil company it is set to absorb would retain his job.
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British energy group BP said on Friday that it had agreed to sell its stakes in a Siberian gas field and company to Russian gas giant Gazprom for up to 900 million dollars (669 million euros).
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Russia's state-controlled gas giant Gazprom approved a plan to bid for Yukos' core production unit Wednesday amid reports that the company was negotiating to secure a &#36;13 billion loan from a group of Western banks to support its offer.
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MOSCOW : Russia moved to bolster its role in the strategic energy sector as gas giant Gazprom said it would acquire state oil firm Rosneft, handing the government control of the world&#39;s largest gas producer.
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Lithuania's national gas distribution company Lietuvos Dujos has signed a new supply deal with Russian giant Gazprom, a company spokeswoman said Friday, a move that could hit customers' pockets hard.
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Russia's gas monopoly Gazprom will bid for the crown jewel of the embattled oil giant Yukos during an upcoming December auction, a top company official said, confirming long-held market rumors.
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Russian natural gas monopoly Gazprom ended weeks of speculation by announcing it will bid for struggling oil company Yukos&#39;s main production unit when it goes on the auction block this month.
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Russian gas giant Gazprom pushed ahead with plans to bid for the main production unit of embattled oil group Yukos, a takeover that would create a state-controlled oil and gas behemoth to rival Saudi Arabia's Aramco.