OAO Rosneft, Russia’s largest oil producer, rose the most in more than three weeks as smaller competitor OAO Lukoil offered the state-run company stakes in projects in West Africa.
Rosneft jumped 2.8 percent to 207.39 rubles by 5:28 p.m. in Moscow, the biggest advance on a closing basis since May 29. The 30-stock Micex Index gained 0.4 percent to 1,379.97.
Lukoil invited Rosneft to participate in projects in West Africa in exchange for access to the Russian offshore, Andrei Kuzyaev, the head of Lukoil’s overseas unit, said today at the St. Petersburg International Economic Forum.
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