Gazprom Neft, the oil subsidiary of Russia's state-controlled gas company, has raised to 27.5 per cent its stake in Sibir Energy, the Aim-listed oil company whose shares have been suspended since February.

Renaissance Capital, Gazprom’s broker, announced on Friday morning it was buying more shares in Sibir after building up a stake of almost 17 per cent last month. By the end of the day, Gazprom had acquired a further 10.6 per cent.