Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Yevtushenkov Says Russia Favored Bashneft’s Bid, Vedomosti Says

Don't Miss Out —
Follow us on:

March 5 (Bloomberg) -- The Russian government favored OAO Bashneft in its winning bid for the country’s largest undistributed oil fields last year, Vladimir Yevtushenkov, the billionaire owner of the oil producer’s parent company, AFK Sistema, said in an interview with Vedomosti.

It was important for the state to set up another vertically integrated company to increase competition, while handing over the Trebs and Titov fields to companies such as OAO Lukoil or OAO Surgutneftegas “wouldn’t have made a quality difference on the market,” Yevtushenkov told the daily.

Bashneft, whose assets are mainly maturing fields, needed a “favor,” similar to those once given to Lukoil and Surgutneftegas, he told the newspaper.

Bashneft was the only bidder for Trebs and Titov in Russia’s Arctic at the December tender. Surgutneftegas failed to make a necessary cash deposit. Applications from Lukoil, TNK-BP, and India’s Oil & Natural Gas Corp were rejected.

To contact the reporter on this story: Anna Shiryaevskaya in Moscow at ashiryaevska@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.