Analysts comment on division of Slavneft

At least two years will be necessary for accomplishing the division of Slavneft assets, analysts believe. Slavneft will be managed by its two major shareholders, BP-TNK and Sibneft, over this period, experts believe. This decision is optimal for both BP-TNK and Sibneft, they say. But at the same time these two shareholders stick to different management policies. Sibneft exercises aggressive policies and BP-TNK is more conservative due to the influence of British partners of the company.

BP-TNK may be interested in the Slavneft subsidiary Megionneftegaz. Sibneft may be interested in securing control over oil refining subsidiaries of this oil company. Taking into account increase in export duties, oil refining in Russia may become more profitable business.

Slavneft shareholders are expected to launch the division process after the assessment of Megionneftegaz is accomplished.

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