The Russian government is working on a plan under which oil behemoth Rosneft (OTC:RNFTF) would take over fellow state-backed producer Gazprom Neft - a unit of Gazprom (OTCPK:GZPFY) - and independently owned Lukoil (OTC:LUKOY),

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. The combination of state-backed Rosneft Oil, Gazprom Neft and privately-owned Lukoil would be second to Saudi Arabia’s Aramco and pump almost three times US oil producer Exxon’s output,

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,