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What will be the primary export destination of the merged Russian oil company by end of 2025?
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Russia•Rosneft•Gazprom Neft•Lukoil•Wall Street Journal•Saudi Arabia•Aramco•India•China•Exxon Mobil•American
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Russia Merges Rosneft, Gazprom Neft, Lukoil into World's Second-Largest Oil Producer: WSJ
Nov 11, 2024, 08:59 AM
Russia is reportedly working on a plan to merge its three largest oil companies, Rosneft, Gazprom Neft, and Lukoil, into a single national champion, according to the Wall Street Journal. This move aims to create the world's second-biggest crude oil producer, only surpassed by Saudi Arabia's Aramco. The merger is expected to help Russia secure more advantageous energy deals with non-Western states and potentially enable the country to negotiate higher prices from customers in places like India and China. The combined state-backed entity would produce almost three times as much oil as Exxon Mobil, the largest American producer.
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