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Bought 16% interest in Russia-focused company.

Russian oil company Gazpromneft has acquired a 16% interest in London-based Sibir Energy Plc (London AIM: SBE) through a public offering. Renaissance Securities (Cyprus) Ltd. managed the offering to acquire shares in Sibir at £5.00 per share. Gazpromneft chairman and chief executive Alexander Dyukov says, "We are pleased to have become a significant minority shareholder in a company that we regard as a world-class asset." Sibir holds upstream assets in Russia as well as refining and retail operations.