Smaller Russian oil companies such as OAO Gazprom Neft and TNK-BP Holding are better buys than their bigger competitors as they provide higher dividends and have better production prospects, according to Troika Dialog.
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.
Russian billionaire Vladimir Yevtushenkov ’s holding company AFK Sistema unveiled the country’s first smart phone equipped with the Glonass navigation chip as the government seeks to challenge U.S. control of satellite navigation.
OAO Bashneft, the oil producer controlled by Russian billionaire Vladimir Yevtushenkov , won the rights to develop two Arctic oil deposits for 18.5 billion rubles ($587 million), higher than the starting price.
OAO Bashneft, the oil company controlled by Russian billionaire Vladimir Yevtushenkov , may increase its reserves about 70 percent after getting a clear run at two of Russia’s largest undeveloped fields.