Gazprom Neft And KMG To Acquire MMG?

Boris Zilbermints, Deputy General Director of Russia's Gazprom Neft, has confirmed that the company is looking to acquire shares in Kazakhstan's MangistauMunaiGaz (MMG), alongside Kazakhstan state-owned firm KazMunaiGaz (KMG). This followed Kazakhstan's Prime Minister Karim Masimov's recent announcement that the government was aiming to regain a controlling stake in MMG, to which Zilbermints added, 'KMG is definitely going to buy 51% of MMG', adding that Gazprom Neft is keen to acquire the remaining 49%. Gazprom Neft is the fifth largest oil producer and refining company in Russia, and the oil arm of Gazprom, the largest company in Russia.

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