All news

Acquisition of Bashneft will make possible to increase production by 10% — Rosneft

MOSCOW, October 12. /TASS/. Acquisition of 50.08% shares in oil producer Bashneft will make possible for Rosneft to increase production by 10% and oil refining by 20%, the Russian oil major said on Wednesday.

"The high assessment of the deal by the investment community is not merely related to entry of the united company into new regions of production and supply of oil and oil products and Rosneft’s increase of liquid hydrocarbons production by 10% and refining volume by 20%, but also with a significant synergy potential from optimization of mutual oil supplies, transportation and logistical costs, reduced cost of drilling services, joint use of infrastructure of producing assets, modern technologies and know-how," Rosneft said.