26.12.2005
"RosBusinessConsulting"
RussNeft paid $1 billion for the assets bought form TNK-BP and Krasnodar Refinery, said President of the company Mikhail Gutseriev at a press-conference on the results of the year. At this he didn’t name the exact sums paid for the assets of TNK-BP and Krasnodar Refinery just having mentioned that the Krasnodar Refinery was not an expensive asset.
Replying to the question of the reporters whether the company was going to buy out shares from minority shareholders of the newly acquired assets, M.Gutseriev said that presently the company had no plans to buy out the minority shares and was going to pay dividends to the minority shareholders.
It is to remind that on December 21 2005 RussNeft and TNK-BP completed the sale deal on four companies owned by TNK-BP – Saratovneftegaz OAO, Orsknefteorgsintez OAO, Orenburgnefteprodukt OAO and Neftemaslozavod OAO. The deal was concluded in the context of TNK-BP asset restructuring policy. At the same time Russneft came to an agreement on the purchase of the Krasnodar Refinery.
NK Russneft OAO is an oil holding company comprising 30 producing entities, 2 oil refineries, 2 transport companies and a retail network numbering 300 gas-filling stations. The entities of Russneft are found in 17 regions of Russia and CIS. The total recoverable reserves of Russneft exceed 630 million tons with annual oil output nearing 17 million tons.
