The Board of Directors of Orsknefteorgsintez OAO (orfe) /in the town of Orsk of the Orenburg region/ has announced convocation of shareholders’ annual meeting on June 30, 2006, the Board of Directors said in an official statement.
The register of the shareholders to participate in the meeting was closed on May 12.
Oil Company RussNeft OAO and Administration of the Krasnodar region have concluded a cooperation agreement. The document was signed by Mikhail Gutseriev, President of RussNeft, and Alexander Tkachov, Governor of the Krasnodar region. The oil company plans to implement in the region various investment projects in oil refining. The document also determines the main principles of interaction between the parties in studying the prospects for exploration and development of new oil and gas fields in the Krasnodar region.
In May Orsknefteorgsintez OAO, a subsidiary of Oil Company RussNeft OAO, has started to produce diesel oil meeting the Euro-3 standards. The production volume of the advanced product will come to 5 thousand tons per month. The product is to be shipped to the consumers of the Moscow and central regions of Russia, RussNeft says in a statement.
In the first quarter of 2006 the net profit of Oil Company RussNeft OAO according to Russia’s accounting standards (RAS) increased in 4.4 times against the fourth quarter of 2005 and came to 3,635,813 thousand roubles, the company says in a statement. In the fourth quarter of the past year RussNeft net profit amounted to 818,541 thousand roubles.
