“Neft Rossiyi”. “RussNeft”: one-two-three and crowned”.

Everything that ancient Greek King Midas who once did the Greek Gods invaluable favor touched, turned into gold. Everything that former Vice-speaker of Russian Duma, former president of oil company “Slavneft” touches, turns into oil. After his abrupt and somewhat scandalous departure from “Slavneft” many experts predicted that Gutseriev would not start any oil projects any more for parting with “Slavneft” had been a very serious blow for him.

When one year and half ago Gutseriev announced his plans to found a new oil company rather notoriously named “RussNeft”, his words were met with a huge amount of scepticism.  From nothing found what? New oil company? Well, may the Lord help you…

Meanwhile, following aggressive strategy of mergers and acquisitions, within one year and a half “RussNeft” increased its annual production up to 7,5 million tones and its reserves up to 370 million tones. By production level “RussNeft” became one of the top ten largest oil companies in Russia. By the end of this year the company plans to increase its production up to 10 million tones, and in 2005 “RussNeft” has big ideas to produce 20 million tones of oil. All mentioned above facts let us come to a conclusion that on the Russian oil market has appeared a new player with aggressive strategy and ambitious plans.