OAO Gazprom Neft (SIBN.RS), the oil arm of Russian gas firm OAO Gazprom (GAZP.RS), has increased its stake in U.K.-listed oil producer Sibir Energy PLC (SBE.LN) to 33.57%, said Renaissance Capital Ltd. Wednesday.

Renaissance Capital has been buying minority shares of Sibir Energy on behalf of Gazprom Neft, offering shareholders 500 pence a share.

Trading in Sibir shares is currently suspended pending an investigation into erroneous disclosures relating to controversial real estate dealings with core owner Chalva Tchigirinski.

Company Web site: www.gazpromneft.ru

-By Jacob Gronholt-Pedersen, Dow Jones Newswires; +7 495 937 8445; jacob.pedersen@dowjones.com
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