From Bloomberg:
The two energy companies at the heart of Russia’s economy are on the verge of a historic reversal that could subtly shift the balance of power in the corridors of the Kremlin.
Gazprom PJSC, the world’s largest natural gas producer, is worth just $2.6 billion more than Rosneft OJSC, Russia’s biggest oil company. That premium, down from more than $250 billion in 2008, may disappear altogether as the five-year slide in Gazprom’s market value continues, according to analysts from Otkritie Financial Corp., Aton LLC and Raiffeisen Bank AO.
