OREANDA-NEWS. January 10, 2007. Rosneft Oil Company OJSC announced completion of the sale of 50% of Tomskneft VNK OJSC to Gazpromneftinance LLC, a subsidiary of Gazprom Neft, reported the press-centre of Rosneft.

According to the terms and conditions of the sale, cRosneft and Gasprom Neft will jointly make managerial decisions regarding Tomskneft development and the rotation of key managerial positions.

Upon closing the sale, which Rosneft implemented through it’s 100% owned subsidiary Neft-Aktiv LLC, Rosneft will account for Tomskneft in its US GAAP accounts on an equity basis.