The Russian government is handing Rosneft over to Gazprom as payment to raise its current 39.3% holding to a controlling stake in the monopoly. A controlling state stake in Gazprom is a prerequisite for opening up trade in its shares to foreigners.

Gazprom chief executive Aleksey Miller has suggested Gazpromneft will also absorb another state oil company, Zarubezhneft. And the establishing of Gazpromneft may also indicate a move by Gazprom towards acquiring Yuganskneftegaz, a subsidiary of