News

The Company Buys a Refinery and Becomes Vertically Integrated

The owner of RussNeft Mikhail Gutseriev will enter the New Year as the owner of a vertically integrated company. Yesterday RussNeft announced purchase from TNK-BP a number of assets including the Orsk Refinery of 6.7 million ton annual capacity.

Russian company RussNeft is going to enter Slovakian market and buy 49% of Slovakian Transport Company Transpetrol from Yukos, a major Russia’s oil concern, lawtek.ru reported. RussNeft President Mikhail Gutseriev discussed the matter yesterday at a meeting with Slovakia’s economics minister.

Oil Company RussNeft OOO has become owner of controlling stakes in five oil producing entities of the Tomsk region, according to the official documents of the company. Specifically, RussNeft has come into possession of 51% stake in limited liability companies named Stolbovoye, Poselkovoye, Fedyushkinskoye, Duklinskoye and Grushevoye. The share of RussNeft in the chartered capital of these companies was changed as of the 20th December 2005.

RussNeft has come to an agreement in principle with the shareholders of ‘Krasnodar Oil Refinery – Krasnodarekoneft’ ZAO on acquisition of 75% stake at the refinery. With effect from January 2006 RussNeft will assume responsibility and operational control of the refinery, the company said in a statement.