To cut costs and undertake the necessary investment Russian oil companies will have to merge. A Lukoil-Rosneft merger would create the 10th largest oil company in the World, still much smaller than Exxon, Shell, BP or Total, but with more crude oil reserves than any of them, so with an extraordinary margin for growth In a decade, one of the five largest oil companies in the World should be Russian, and without the need of any Government subsidies (taking into account the large profits oil companies have that would be ridiculous) So, by 2020, the Big Five private companies should be: SHELL (Netherlands) EXXON (U.S.A.) L.R. (Russia) Lukoil.Rosneft Oil B.P. (U.K.) TOTAL (France) TNK-BP could keep its personality to guarantee competition inside the Russian territory.