Kremlin Ties Restrain Rosneft

BMI View: Rosneft has revealed plans to increase 2012 investments and 2011 dividend payouts. These plans clearly reflect the firm's ambition to expand its international profile and even rival ExxonMobil, the world's largest oil and gas company by market capitalisation. However, considering Rosneft's lack of political independence, its operations would have to be at least three times that of ExxonMobil before it can start financially competing with the US supermajor.

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