Editing Gazprom Neft (section)

==History==
Gazprom Neft was created under the name Sibneft ({{langx|ru|Сибнефть}}) in 1995 by the transfer of state owned shares in Noyabrskneftegas (production unit), the [[Omsk Refinery]] (Russia's largest oil refining complex), Noyabrskneftegasgeophysica (exploration)  and Omsknefteprodukt (oil products distribution network) from [[Rosneft]].{{citation needed|date=July 2012}}

In 1996 and 1997, Sibneft was privatised through a series of loans-for-shares auctions. [[Roman Abramovich]] and [[Boris Berezovsky (businessman)|Boris Berezovsky]] acquired the company for US$100&nbsp;million, after bidding through several [[front companies]] that had been set up for this specific purpose.  Each partner paid US$100&nbsp;million for half of the company, above the stake's stock market value of US$150&nbsp;million at the time, and the company value rapidly increased to billions. The fast-rising value of the company led many observers, in hindsight, to suggest that the real cost of the company should have been in the billions of dollars (it was worth US$2.7&nbsp;billion at that time).<ref>{{Cite book|url=https://books.google.com/books?id=N_aEDwAAQBAJ&q=US%242.7+billion+sibneft&pg=PA80|title=The World Disorder: US Hegemony, Proxy Wars, Terrorism and Humanitarian Catastrophes|last=Bandeira|first=Luiz Alberto Moniz|date=2019|publisher=Springer|isbn=9783030032043|language=en}}</ref><ref name=midgley>{{cite book |last1=Midgley|first1=Dominic|last2=Hutchins|first2=Chris|title=Abramovich: The Billionaire from Nowhere |publisher=Harper Collins Willow |date=3 May 2005 |isbn=978-0-00-718984-7}}</ref> Abramovich later admitted in court that he paid billions of dollars of bribes to government officials and gangsters to acquire and protect his assets.<ref>{{cite news|url=http://www.independent.ie/world-news/europe/chelsea-owner-admits-he-paid-out-billions-in-bribes-1428008.html|title=Chelsea owner admits he paid out billions in bribes|date=5 July 2008|work=[[The Independent]]|access-date=3 December 2010|location=Ireland}}</ref>  

Initially controlled by Berezovsky, Sibneft later came under the control of Abramovich.<ref>{{Cite news |last1=Harding |first1=Luke |last2=Bowcott |first2=Owen |date=2012-08-31 |title=Boris Berezovsky and Roman Abramovich case: Q and A |language=en-GB |work=The Guardian |url=https://www.theguardian.com/world/2012/aug/31/berezovsky-abramovich-case-q-and-a}}</ref>

Sibneft twice unsuccessfully attempted a merger with [[Yukos]] that would have created Russia's largest oil company, Yuksi<ref>{{Cite news |date=1998-01-20 |title=TWO MAGNATES JOIN FORCES, CREATE NEW RUSSIAN OIL GIANT|newspaper=The Washington Post|url=https://www.washingtonpost.com/archive/politics/1998/01/20/two-magnates-join-forces-create-new-russian-oil-giant/c055cfa1-21bd-43f0-990b-4d903b584a43/}}</ref>  or YukosSibneft. The first attempt in 1998 failed due to a management dispute<ref>{{Cite news |date=2003-04-23 |title=Merger Creates Russian Oil Giant With Big Dreams|work=The New York Times |url=https://www.nytimes.com/2003/04/23/business/merger-creates-russian-oil-giant-with-big-dreams.html}}</ref> and the impact of the [[1998 Russian financial crisis]], while the second attempt ended when Sibneft's shareholders called off the deal in November 2003 after the federal government cracked down on Yukos despite the process already being well under way.<ref>{{Cite news |date=2003-11-28 |title=Russian oil merger 'suspended'|work=The Guardian|url=https://www.theguardian.com/business/2003/nov/28/oilandpetrol.russia}}</ref>

In September 2005, Gazprom bought 75.7% of Sibneft's shares from Millhouse Capital (Roman Abramovich's investment vehicle) for US$13.1&nbsp;billion<ref>{{Cite news|url=https://www.ft.com/content/1aee02b4-3016-11da-ba9f-00000e2511c8?_i_location=http://www.ft.com/cms/s/0/1aee02b4-3016-11da-ba9f-00000e2511c8.html&_i_referer=|title=Gazprom buys Sibneft stake for $13.1bn|newspaper=[[Financial Times]]|accessdate=Aug 28, 2022}}</ref><ref>{{Cite web|url=https://www.ft.com/content/1aee02b4-3016-11da-ba9f-00000e2511c8|title=Gazprom buys Sibneft stake for $13.1bn|newspaper=[[Financial Times]]|accessdate=Aug 28, 2022}}</ref><ref>{{Cite web|url=http://www.roberteringer.com/col_101108.htm |archive-url=https://web.archive.org/web/20090327080004/http://www.roberteringer.com/col_101108.htm |archive-date=2009-03-27 |title=Robert Eringer|date=Mar 27, 2009|accessdate=Aug 28, 2022}}</ref> in Russia's largest corporate takeover. In May 2006, Sibneft was renamed Gazprom Neft.

In 2006, Alexander Dyukov was elected as CEO of the company, and in 2008, he was also appointed chairman of the management board. His contract was extended for a further five years in December 2011.{{citation needed|date=September 2012}}

In 2011, Berezovsky brought a civil case against Abramovich in the [[High Court of Justice]] in London, accusing Abramovich of blackmail and breach of contract over the privatisation of Sibneft, claiming that he had been a co-owner of Sibneft and seeking over £3 billion in damages.<ref name=PA-20120831>{{cite news |url=https://www.google.com/hostednews/ukpress/article/ALeqM5jHmUh7mdoYCEo-ueq8KT6AK3SjNg?docId=N0289921346369684515A |archive-url=https://web.archive.org/web/20120901014033/http://www.google.com/hostednews/ukpress/article/ALeqM5jHmUh7mdoYCEo-ueq8KT6AK3SjNg?docId=N0289921346369684515A |url-status=dead |archive-date=September 1, 2012 |title=Berezovsky loses Abramovich claim |publisher=Press Association |date=31 August 2012 |access-date=31 August 2012}}</ref> This became the largest civil court case in British legal history.<ref name=telegraph-20120831>{{cite news |url=https://www.telegraph.co.uk/news/uknews/law-and-order/9509975/Abramovich-wins-biggest-private-court-case-in-history.html |title=Abramovich wins biggest private court case in history |author=Duncan Gardham |publisher=Daily Telegraph |date=31 August 2012 |access-date=31 August 2012}}</ref> The court dismissed the lawsuit, concluding "that the sum of $1.3 billion paid by Mr. Abramovich to Mr. Berezovsky and Mr. Patarkatsishvili did not represent the sale price of Mr. Berezovsky’s and Mr. Patarkatsishvili’s alleged Sibneft interest, but rather was a final lump sum payment in order to discharge what Mr. Abramovich regarded as his ''[[krysha]]'' obligations."<ref name=Berezovsky-v-Abramovich-summary>{{cite report|url=http://www.judiciary.gov.uk/Resources/JCO/Documents/Judgments/berezovsky-abramovich-summary.pdf |title=Executive Summary of the Full Judgment of Gloster J in Berezovsky v Abramovich |publisher=High Court of Justice |id=Berezovsky v Abramovich Action 2007 Folio 942 |date=31 August 2012 |access-date=31 August 2012 |url-status=dead |archive-url=https://web.archive.org/web/20120905133145/http://www.judiciary.gov.uk/Resources/JCO/Documents/Judgments/berezovsky-abramovich-summary.pdf |archive-date=September 5, 2012 }}</ref><ref name=bloomberg-20120831>{{cite news |url=http://washpost.bloomberg.com/Story?docId=1376-M99HCA6KLVRB01-3KCRSUMC6RCK16JT40CJRN98LU |title=Abramovich Wins Battle of Oligarchs Over 'Unreliable' Berezovsky |publisher=Bloomberg/Washington Post |date=31 August 2012 |access-date=31 August 2012 |archive-url=https://web.archive.org/web/20140329095007/http://washpost.bloomberg.com/Story?docId=1376-M99HCA6KLVRB01-3KCRSUMC6RCK16JT40CJRN98LU |archive-date=29 March 2014 |url-status=dead }}</ref>

In 2017, Gazprom Neft became one of Russia's top three oil producers (62.3 million tonnes of oil).<ref name=vedomosti>{{cite web |url=https://www.vedomosti.ru/business/articles/2019/04/16/799292-gazprom-neft-gotovit |website= vedomosti |title= "«Газпром нефть» готовит новый мегапроект в Арктике" |date= 16 April 2019 |language=ru |access-date=3 July 2024}}</ref>