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The Sunday Times: Shell’s Russian swap

September 16, 2007
Business Digest

THE oil giant Royal Dutch Shell is in talks to swap a stake in its German Miro refinery in return for production assets owned by Rosneft, the state-controlled Russian company.

The move comes after the two oil groups struck a landmark partnership deal in July to cooperate on oil and gas projects in Russia.

Shell has been keen to expand its interest in Russia after it was forced to surrender control of the $21 billion (£10.4 billion) Sakhalin-II offshore development to Gazprom, the Kremlin-backed gas firm, at the end of 2006.

http://business.timesonline.co.uk/tol/business/industry_sectors/utilities/article2459603.ece

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