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Rosneft Surpasses Gazprom as Russia's Most Valuable Company

  • Oil giant seen capitalizing on growth as prices climb: RenCap
  • Gazprom hurt by weaker European market, domestic competition
A station attendant refuels a vehicle at an OAO Rosneft gas station in Moscow, Russia, on Tuesday, Dec. 2, 2014. Russia plans to hold five oil-field tenders in easily accessible areas in the first quarter to help producers keep output stable as sanctions block development of remote provinces and crude prices plunge.
Photographer: Andrey Rudakov/Bloomberg
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Rosneft OJSC became Russia’s most valuable company as its market capitalization exceeded that of natural-gas exporter Gazprom PJSC for the first time since its shares began trading in 2006.

Rosneft stock rose 4.2 percent in London by 3:40 p.m., boosting the value of Russia’s largest oil producer to $51.7 billion. Gazprom gained 1.2 percent, raising its market capitalization to $51.5 billion. In Moscow, Rosneft advanced 2.5 percent while the gas producer was up 0.7 percent.