Russia anti-monopoly service to back Rosneft's Itera bid

6/27/2013

Russia anti-monopoly service to back Rosneft's Itera bid

Russia's Federal anti-monopoly service will support Rosneft's bid to buy out its partner in gas firm Itera, FAS Chief Igor Artemev was quoted as saying by Russian newswires. "I'm sure we'll support the application," he said, Interfax and Prime news agencies reported.

Rosneft last fall acquired a 51% stake in Itera, seeking to expand its position as a gas producer. Rosneft is now buying the remaining 49% from businessman Igor Makarov and his partners, Kommersant newspaper reported in May. Rosneft has not commented on the reported bid.

Rosneft became the world's largest listed crude oil producer in March after acquiring TNK-BP in deals worth around $60 billion.

Dow Jones Newswires

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