Russia’s energy czar Igor Sechin has been appointed to lead Russia’s largest oil company, state-controlled Rosneft.
Prime Minister Dmitry Medvedev made the announcement to Russian news agencies on Tuesday.
Sechin, who until recently served as deputy prime minister, has been viewed as the most influential man in the country’s energy industry. A close ally to President Vladimir Putin, he personally oversaw all major energy agreements in Russia including the multi-billion Arctic deals between Russia, ExxonMobil and Eni and Statoil.
Rosneft shares surged 3.7 percent on the news, outperforming the market. The government owns slightly more than 75 percent of the company.
