2009-08-04-2009-07-01-2009-07-01

Raised interest in Russian E&P from 28.5% to 33.5%.

Russian oil firm Gazprom Neft has raised its interest in beleaguered Siberian producer Sibir Energy Plc (London: SBE) from 28.5% to 33.5% for £52.6 million (US$82 million), with an open offer to acquire additional shares. Gazpromneft paid £5 per Sibir share for some 23 million additional shares, buying out virtually all of the minority shareholders. Sibir primary shareholder Shalva Chigirinsky has collateralized his holdings with Sberbank, to which proceeds will be used to pay down on a US$400 million debt related to failed real-estate holdings.