Rosneft
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OAO Rosneft Oil Company is a Russian integrated oil company. Rosneft conducts oil and gas exploration and production activities on Sakhalin island, in Siberia, in the Timan-Pechora province, and in southern Russia, including Chechnya. It also owns and operates two refineries. Its plant in Tuapse in Western Russia, focuses on refining high-gravity oil from western Siberia. Another, located in Komsomolsk-on-Amur, is the most eastern oil refinery in Russia. Rosneft also operates shipping and pipeline companies as well as marketing businesses.
In 2004 the company agreed to merge with Gazprom. However, the merger plans were discarded in May 2005 because Rosneft president Sergey Bogdanchikov did not wish to take a lesser role in the integrated company answering to Gazprom CEO Alexei Miller.
Rosneft's headquarters are located in Moscow, steps away from the Kremlin across the Moskva river.
On December 22, 2004, Rosneft bought the Baikal Finance Group, which three days earlier had won a government fire sale of Yuganskneftegaz (Yugansk), the main production subsidiary of the beleaguered oil company Yukos. Yugansk was being sold in lieu of back taxes owed by Yukos.
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