Russian energy giant GAZPROM (USD 28 bn turnover in 2003), the world's biggest gas producing company, is to acquire fully state-owned oil group ROSNEFT (USD 3.6 bn turnover in 2003). The deal will raise the government's stake in the combined group to a controlling level of 50% plus one share. The state currently owns slightly over 38% of GAZPROM and is the company's biggest shareholder.