The resulting company would be the world’s second-largest crude producer, behind Saudi Arabia’s Aramco, and would pump almost three times the output of Exxon Mobil.

Russia is seeking to merge three major oil companies in a bid to create the world’s second-biggest crude oil producer, reports suggest.

Russia plans to merge its three largest oil companies into a single giant, reports the "Wall Street Journal." This operation is expected to create the second-largest oil company in the world. Kremlin representatives do not confirm this information.

The Russian government is considering the merger of three major oil companies - Rosneft, Gazprom Neft, and Lukoil. This move is expected to help secure more favorable energy deals with non-Western countries,

Moscow is exploring a plan to merge its three largest oil companies into a single mega oil producer, The Wall Street Journal reported Saturday. Under the merger, state-backed Rosneft Oil would absorb Gazprom Neft—a subsidiary of the natural gas giant Gazprom—and Lukoil,