Rosneft has denied reports that there were plans to consolidate the country’s biggest oil companies into one entity, the company said in a statement.
The WSJ cited unnamed individuals as sources of the information. The report cited a Rosneft official as dismissing the information from the sources as false, saying that the report “may be aimed at creating competitive market advantages in the interests of other market participants.” A Lukoil spokesman told the Wall Street Journal that the company was not on merger negotiations “with any parties as this would not be in the interest of the company.
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