Energy Industry
Industry: Email Alert RSS FeedShell, Chevron Interested in Russian Deals, Coy on Details
Oil Daily, The, June, 2004 by Mike Teagarden
MOSCOW -- Royal Dutch/Shell and ChevronTexaco indicated on Tuesday that they could make acquisitions in Russia, but remained coy about specifics on possible deals.
"We are always looking for opportunities; our focus areas for new projects are the Middle East and Russia," Trem Smith, president of ChevronTexaco's Russian unit Chevron Neftegas, said at a Moscow oil conference Tuesday. "These opportunities should be commercially sound. I can't be more specific," he added.
Market rumors have been swirling that both Shell and ChevronTexaco are involved in talks with Russia's Sibneft about acquiring a stake in the Siberian producer after it unwinds itself from a merger with the beleaguered Yukos. France's Total has also been named as a potential suitor for Sibneft....
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