News

Beginning from January 27 2006 Moscow Interbank Currency Exchange has started to sell non-convertible interest-bearing documentary bearer bonds of 01 series issued by Oil Company RussNeft OAO. The bonds are subject to compulsory centralized custody and are included in the list of non-listed stock of MICEX (their state registration number is 4-01-39134-N dated 24.11.2005, ISIN RU000A0GKXJ3). The volume of the issue is 7 million bonds at a nominal price of RUR1 thousand. The issue is to be covered by 10 coupon payments.

Today a working meeting was held between the management of Oil and Gas Company RussNeft headed by Mikhail Gutseriev and administration of the Krasnodarsky krai. According to the information of the company’s press-service, the parties discussed mutually beneficial cooperation between the region and the holding company, outlined prospects for developing the company’s refining capacities over the Kuban territory.

Oil Company RussNeft is going to spend RUR600 million for the development of ‘Krasnodar Oil Refinery – Krasnodarekoneft’ ZAO, the company says in a statement. The tax proceeds to the budget of the Krasnodarsky krai will be doubled in 2006 from RUR100 million a year to RUR200 million.

Oil Company RussNeft OAO plans to invest in 2006 nearly RUR600 million in the development of ‘Krasnodar Oil Refinery – Krasnodarekoneft’ ZAO, as reported in the press-release of RussNeft on the results of the meeting between President of the company Mikhail Gutseriev and Governor of the Krasnodarsky krai Alexander Tkachov.

Businessman Mikhail Gutseriev is at the head of the Russian-Algerian Business Council