Russian majors to receive $9bn bail out

摘要

The Russian government has decided to provide $9 billion to the country's four largest oil and gas companies, responding to an earlier request for state aid from Gazprom, Lukoil, Rosneft and TNK-BP amid the ongoing financial crisis. The decision was taken following a meeting held October 11 between Igor Sechin, deputy prime minister in charge of oil and gas, and the four companies, to discuss refinancing of their debts to foreign banks, Russian business daily Kommersant reported October 14, citing sources. Of the total $9 billion, Rosneft is to receive $4.2 billion, as the state-run oil producer has the largest debts stemming from the acquisition last year of assets of the former oil giant Yukos.