Russia is considering a plan to merge Rosneft, Gazpromneft and Lukoil into one national mega—producer of oil, The Wall Street Journal states, citing anonymous sources.

The single company will become the second largest producer of crude oil in the world, second only to Saudi Aramco and producing three times more oil than American Exxon Mobil.

“This would allow Russia to achieve higher prices when selling oil, as well as more effectively resist sanctions,” The Wall Street Journal emphasizes.

KRISTALL ROSTA previously reported that according to Bloomberg’s assessment, Russia is winning in the oil market despite the sanctions