News

The Federal Service for Financial Markets, or FSFM, of Russia registered at its meeting on the 24th of November the issue of 01 series documentary interest-bearing non-convertible bearer bonds of Oil and Gas Company RussNeft OAO to the amount of 7 billion rubles.

Within only three years no-big-scale private company RussNeft became a strong player at the oil market at which the government influence is becoming more and more profound. The owner of the company Mikhail Gutseriev has laid his own political weight and ambition into the foundation of the company.

RussNeft will increase its oil output in Udmurtia. This news was communicated yesterday by head of the company Mikhail Gutseriev in Izhevsk. This is to remind that here it was held a signing ceremony at which a 2006 cooperation agreement was concluded between the company and the leadership of the Republic. Implementation of the company’s production projects will allow increasing its oil output up to 4 million tons in 2006 as was pointed out by Mikhail Gutseriev during the signing of the agreement. This year RussNeft’s oil output in Udmurtia has reached 3.7 million tons.