Russian oil M&A action surges with mixed outlook

05/05/2003
A recent flurry of merger and acquisition activity is about to give the Russian oil sector a major facelift—and possibly add to the ranks of the world's supermajor oil companies.Two megadeals and one merely large acquisition involving Russian oil and gas assets have been announced in the past 3 months:Plans by BP PLC and two Russian investor groups to invest $6.75 billion in a new company, TNK-BP, that would incorporate major Russian oil companies Tyumen Oil Co. (TNK) and Sidanco Oil Co. (OGJ Online, Feb. 17, 2003).The $35 billion proposed merger of Russian oil giants OAO Yukos and OAO Sibneft into YukosSibneft Oil Co. (OGJ Online, Apr. 22, 2003).Marathon Oil Corp.'s agreeme...
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