RusEnergy

RBC, 17.11.2006, Moscow 17:05:08. – In modern Russia there will be no more than five large oil companies, LUKoil President Vagit Alekperov said at the fourth International Oil Forum in Moscow. According to him, these companies will perform two main functions, the first being domestic deliveries and the second - strengthening Russia's position on foreign markets. Alekperov also noted that Russia was currently experiencing the strengthening and consolidation of oil companies, that the companies' oil and natural gas output was leveling out, and that they were buying new assets and cooperating with foreign companies on their own. As an example of this he gave LUKoil's cooperation with the American ConocoPhillips. According to different sources, there are currently 12 to 15 vertically integrated oil companies in Russia.