Russia’s Gazprom Purchases Siberian Gas Field From BP

The state-controlled energy giant Gazprom on Friday bought a vast natural gas field in Siberia from a unit of British-based petroleum conglomerate BP, continuing the Kremlin’s policy of shifting control of the country’s major energy projects from foreign to state hands. The terms of the multifaceted deal, which also created a new investment alliance between Gazprom and BP, were more favorable to BP than analysts and some company executives had predicted. They had feared that BP could walk away with next to nothing. Full Story

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