Oil on tap. What else may be bought in Russian oil and gas sector

The market summoned its strength and strained itself, when Eduard Khudainatov, the former Deputy of Rosneft’s President Igor Sechin started with his blessing to create new private oil company in Russia. In the last few years, the absence of the Authority’s support and overpowering amount of investments, which is necessary for the development, led the segment of medium and small oil companies to factual stagnation. But, as the Kommersant got to know, even new aggressive consolidator is unlikely to be able to change the situation a lot – the period of investment indifference has left only several interesting assets on the market.

“The market squealed with delight”

In August, oil investors got to know joyful news: a new player had appeared on the Russian market. The First Vice President of Rosneft, Eduard Khudainatov left the state-owned company, he decided to busy himself with his own business.  He created the Independent Oil and Gas Company (NOK) received, as sources of  Kommersant say, the approval for a new player from President Vladimir Putin. Commenting on the departure of Khudainatov from Rosneft, its President Igor Sechin blessed his former subordinate. He stated that "the Russian market has generated demand for the development of private business in the oil and gas sector," and the state-owned company is "ready to compete with the best companies in Russia".