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18

Russian Energy Majors To Be Invested by the Government

LUKoil had plead first, Rosneft, Gazprom and TNK-BP followed

Vagit Alekperov, president of and a major shareholder in LUKoil recently had a meeting with the Russian President Dmitry Medvedev. Among the questions discussed at the meeting was the idea of lend state money on market terms to help refinance foreign debt and buy new assets abroad as they become cheaper.

These measure are aimed at far future because basically they help the companies to become truly transnational. As Alekperov said, We are getting the chance to become more aggressive."

LUKoil's president said that the president's reaction was positive. That's why there are hopes that government will disburse the money on market terms. Though no preferenecess would be made.

Author: Ksenia Kochneva