Rosneft achieved its goal of becoming the country's largest oil company on Thursday as it scooped up Tomskneft, Yukos' penultimate oil unit to go under the auctioneer's hammer. In 15 minutes of sometimes-confused bidding, a Rosneft subsidiary beat out a challenge from a mystery firm thought linked to Gazprom, buying Tomskneft and other assets for $6.8 billion, just $350 million over the starting price.
The purchase of Tomskneft, with output of about 230,000 barrels per day, boosts Rosneft to about 1.9 million bpd, jumping ahead of LUKoil with 1.8 million bpd.
The acquisition of Yukos assets in a series of forced state auctions has enabled Rosneft to rise from relative obscurity to challenge global giants such as ExxonMobil and BP.
Rosneft second-tier subsidiary Neft-Aktiv cast a winning bid of 175.7 billion rubles ($6.8 billion) for the lot, which also included two large refineries, the East Siberian Oil Company and stakes in several small power and distribution companies.
It beat out a mystery company called Unitex, which was widely believed to be fronting for Gazprom and has acted for Gazprom ally Novatek in a past auction. Rosneft's winning bid came amid slightly chaotic bidding, after both bidders at times held up their paddles simultaneously.
The purchase of Tomskneft, with output of about 230,000 barrels per day, boosts Rosneft to about 1.9 million bpd, jumping ahead of LUKoil with 1.8 million bpd.
The acquisition of Yukos assets in a series of forced state auctions has enabled Rosneft to rise from relative obscurity to challenge global giants such as ExxonMobil and BP.Rosneft second-tier subsidiary Neft-Aktiv cast a winning bid of 175.7 billion rubles ($6.8 billion) for the lot, which also included two large refineries, the East Siberian Oil Company and stakes in several small power and distribution companies.
It beat out a mystery company called Unitex, which was widely believed to be fronting for Gazprom and has acted for Gazprom ally Novatek in a past auction. Rosneft's winning bid came amid slightly chaotic bidding, after both bidders at times held up their paddles simultaneously.
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