Russian business newspaper Vedomosti quoted sources close to talks as saying Gazprom wanted to pay $3 per share for Sibneft, compared with Friday's closure of $3.47.
The world's largest gas producer would be looking to buy 72% of Sibneft from its core owners and another 3% from the market to guarantee it an outright controlling stake of more than 75%.
The deal would cost Gazprom slightly over $10 billion, based on Sibneft's market capitalisation of $16.5
