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Viktor Vekselberg

Rosneft buys out Itera founder for $3 billion: paper

Rosneft , Russia's top oil producer, plans to complete its acquisition of gas company Itera, a newspaper reported on Tuesday, strengthening its domestic market position as it seeks to chip away at Gazprom's export monopoly.Rosneft already owns a 51 percent stake in Itera, which used to be Russia's second-largest gas producer, and its board has approved the purchase of the remaining 49 percent for around $3 billion, the Kommersant daily reported citing sources.Chief Executive Igor Sechin is building up the state energy major into a global player, buying up domestic players and partnering with the world's biggest energy firms, led by ExxonMobil , to exploit its vast reserves.In the biggest coup since he moved from government to head Rosneft a year ago, Sechin completed the $55 billion purchase of Anglo-Russian oil venture TNK-BP in March, in a deal that turned Rosneft into the world's largest listed energy firm by output.That is not enough for Sechin, a former deputy chief of staff to Pr...

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  1. AAR To Invest Main Proceeds From TNK-BP Sale In Russia - Report

    The AAR consortium of Soviet-born billionaires will invest the main proceeds from a sale of stake in Russo-British oil venture TNK-BP (TNBP.RS) into Russia's economy...

  2. Rosneft finalizes deal to buy TNK-BP stake from AAR

    State oil major Rosneft has finalized a deal to buy 50 percent of Russian peer TNK-BP from the AAR consortium for $28 billion, sealing the country's largest takeover...

  3. Insight: UK court reveals fear and mistrust at TNK-BP

    A former TNK-BP employee may have confessed to fraud out of fear during a meeting in the office of German Khan, the head of the oil company and one of Russia's most ...

  4. Abramovich may buy stake in Norilsk peace plan: sources

    Roman Abramovich, owner of Chelsea soccer club, may step up as a "white knight" minority shareholder to resolve a four-year power struggle at Norilsk Nickel in a dea...

  5. Peace deal frees BP to cooperate with Rosneft

    BP moved towards closer ties with Russia's Rosneft as its existing partners in the oil-rich country dropped opposition to an alliance with the state oil major in exc...

  6. No discussion of shares vs cash for AAR's TNK-BP deal

    Russian oil giant Rosneft has not suggested that the tycoons selling out of smaller rival TNK-BP receive payment in stock rather than cash, a source familiar with th...

  7. TNK-BP sale should be partly Rosneft shares: minister in paper

    The Russian tycoons selling out of TNK-BP should receive Rosneft shares as part payment rather than the $28 billion cash agreed, First Deputy Prime Minister Igor Shu...

  8. Russia's Rosneft beefs up with TNK-BP purchase

    Rosneft tightened its grip on Russia's oil industry on Monday with a $55 billion deal to buy TNK-BP that also makes Britain's BP a one-fifth shareholder in the state...

  9. Rosneft beefs up with TNK-BP purchase

    State group Rosneft tightened its grip on Russia's oil industry on Monday, announcing a $55 billion deal to buy domestic producer TNK-BP and make Britain's BP a one-...

  10. Rosneft Buys BP's TNK-BP Stake

    Rosneft and BP are preparing to announce a deal worth over $25 billion that could give the British oil company a stake of between 16 and 20% in the state-controlled ...

  11. BP, Rosneft set for $25 billion-plus TNK-BP deal

    Rosneft and BP are preparing to announce a deal worth over $25 billion that could give the British oil company a stake of between 16 and 20 percent in the state-cont...

  12. BP backs Rosneft bid for stake in TNK-BP: Kommersant

    BP has approved Russian group Rosneft's bid to buy out the British oil company's stake 50 percent stake in its Russian joint venture TNK-BP , Kommersant reported.Sep...

  1. Russian Tycoons Approach Former BP Chiefs

    Representatives of the Alfa Group, set to earn billion of dollars from the sale of Anglo-Russian oil venture TNK-BP, have sounded out former BP CEOs John Browne and ...

  2. Russian Tycoons Approach Former BP Chiefs on Oil Investments -Report

    Representatives of the Alfa Group, set to earn billion of dollars from the sale of Anglo-Russian oil venture TNK-BP, have sounded out former BP CEOs John Browne and ...

  3. Exclusive: TNK-BP tycoons turn to ex-BP bosses for help investing billions

    Representatives of the Alfa Group, set to earn billion of dollars from the sale of Anglo-Russian oil venture TNK-BP, have sounded out former BP CEOs John Browne and ...

  4. Tycoons to Exit TNK-BP When Sale to Rosneft is Complete

    Two of the tycoons who shared control of Russia's third largest oil producer with BP for much of the past decade will leave their management posts at the end of the ...

  5. Tycoons to exit TNK-BP, Rosneft closing this week: sources

    Two of the tycoons who shared control of Russia's third largest oil producer with BP for much of the past decade will leave their management posts at the end of the ...

  6. Rusal Dismisses Shareholder's Criticism as 'Unabashed Populism'

    United Co. Rusal PLC (0486.HK), the world's largest aluminum producer, on Tuesday dismissed a key shareholder's criticism of the company's plans to cut annual output...

  7. Rusal Shareholder Says Production Cuts Premature

    A key minority shareholder in United Co. Rusal PLC (0486.HK) strongly criticized the Russian company's decision to cut annual output by 7%, calling the move "prematu...

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Source: Viktor Vekselberg on Freebase, licensed under CC-BY
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