BP-TNK, Russia Metals and Mining
The ex-head of "Rosneft" creates a joint venture with Alliance Oil.
In the biggest deal in the oil industry since "Rosneft" bought TNK-BP: the former head of the state company Eduard Hudaynatov, who went into private business, fulfilled Igor Sechin’s precept "to develop new ambitious projects in the fuel and energy sector" and combined assets in a joint venture with the Bazhaev family’s Alliance Oil. The total value of the joint venture could be up to $ 6 billion. Mr. Khudainatov’s independent oil and gas company receives 40 % in the joint venture, the top manager will become a CEO. But experts believe that in the future the "Alliance" group and Musa Bazhaev will leave the oil industry and focus on platinum.