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14 May 2003: An impending merger of Russia's top and 5th oil producing companies, Yukos and Sibneft, will make the result the 4th biggest oil company in the world.

The combined company would produce 2.16M brrls/day equaling output of Canada and supplanting ChevronTexaco as world's 4th largest. It would also be most valuable company in Russia worth $34bn. The merger could take over a year to complete.

Yukos owns rights to the equivalent of over 13.3B brrls of oil and gas reserves, while Sibneft owns the equivalent of 4.8B brrls of oil and gas reserves.

The two companies tried unsuccessfully to merge in 1999 because owners could not agree on terms.

	May 2003 - by Brian Byrne
Russia aims to be 'Big Oil' 14 May 2003: An impending merger of Russia's top and 5th oil producing companies, Yukos and Sibneft, will make the result the 4th biggest oil company in the world. The combined company would produce 2.16M brrls/day equaling output of Canada and supplanting ChevronTexaco as world's 4th largest. It would also be most valuable company in Russia worth $34bn. The merger could take over a year to complete. Yukos owns rights to the equivalent of over 13.3B brrls of oil and gas reserves, while Sibneft owns the equivalent of 4.8B brrls of oil and gas reserves. The two companies tried unsuccessfully to merge in 1999 because owners could not agree on terms.
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