Rosneft to Take Over Itera Completely

People ♦ Published: July 2, 2013; 18:14 ♦ (Vindobona)

Russian oil producer Rosneft has taken over gas corporation Itera completely and now wants to compete against energy giant Gazprom.

Rosneft to Take Over Itera Completely / Picture: ©

Today, the company announced that Rosneft has taken over the remaining 49 percent of founder of Itera Igor Makarov.

Head of Rosneft, Igor Setchin, a close ally of President Vladimir Putin want to enhance the production of gas from 13bn cubic meters last year to 100bn cubic meters until 2020. As a comparison: Gazprom produces 479bn cubic meters.

Together with Novatek,…