News

RussNeft looks to increase its oil output in 2006 by 51.5% against the 2005 volumes bringing it to 25 million tons. The statement was made by President of RussNeft Mikhail Gutseriev at a press-conference devoted to the results of the year. At that he pointed out that the current year oil output is going to be 16.5 million tons, end of January 2006 the company will reach a level 18 million tons a year through the acquisition of new assets, and in 2006 – 25 million tons.

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.

RussNeft OAO, one of the most dynamically developing oil companies of Russia, is considering the possibility of conducting initial public offering next year. Of this the reporters were informed by RussNeft President Mikhail Gutseriev. “We have such plans for next year,” he said answering the question about the IPO. According to him, the company is negotiating this matter with several banks.

RussNeft OAO bought assets of TNK-BP and Krasnodarekoneft to the amount of $1 billion. The information was voiced by head of RussNeft Mikhail Gutseriev. This is to remind that last week RussNeft completed purchase of Saratovneftegaz, Orenburgnefteprodukt, Orsk Refinery, Neftemaslozavod in Orenburg and a refinery in Krasnodarsky krai, Krasnodarekoneft.

RussNeft OAO is going to conclude a long term contract on crude oil deliveries with Hungarian company MOL in case it wins the auction for sale of the shares at Slovakian pipeline company Transpetrol. This news was voiced for the reporters by Mikhail Gutseriev.