RussNeft Seeks to Take Up 25% of Moscow’s Market within Next Two Yeara
RussNeft seeks to take up 25% of Moscow region market in the nearest two years. The statement was made today by President of the company Mikhail Gutseriev at a press-conference devoted to the results of 2005. According to him, the company owns 102 retail outlets in Moscow and its province and within two year the company intends to increase the number up to 200. “At that we’ll stop,” said M.Gutseriev.
The company also possesses retail networks in other areas, specifically, in Sochi and Orenburg, and is going to develop retail networks in other areas where it operates, said M.Gutseriev. According to him, in the structure of the company there has recently been set up an oil refining office whose employees have developed short and long term refining programs providing for debottlenecking of the company’s two refineries to be followed by improving the conversion of crude oil from 50 to 80%.
The head of RussNeft pointed out that the company intended to deliver the crude oil which had before been sold at the local market to the newly acquired refineries (Orsknefteorgsintez and Krasnodar Refinery). At the same time the company will continue to deliver crude oil to the Syzran Refinery most likely to be bought from the local market.
Talking about expansion of the company’s refining capacities M.Gutseriev said that in the nearest future RussNeft was not going to buy new refineries, but if refineries in Syzran and Bashkiria are offered for sale the company will think of taking part in the tenders.
He also informed that in 2006 the Bryansk oil loading rack possessed by the company was going to transship 3 million tons of crude oil bound for Byelorussia. M.Gutseriev didn’t rule out the possibility of putting up a refinery basing on the terminal which in fact could be integral part of the oil refinery shipping oil for export. According to the head of RussNeft, it could be more appropriate and profitable to sell out finished products (petroleum products). Currently such ideas are being developed by the company’s experts, who have already done a feasibility study of the future project, but no final decision has yet been made on the subject, concluded M.Gutseriev.
Oil Company RussNeft OAO is an oil holding comprising 30 producing entities, 2 refineries, 2 transport companies, and a retail network numbering 300 gas-filling stations. The enterprises of the company are found in 17 regions of Russia and CIS. The total recoverable reserves of RussNeft exceed 630 million tons, its annual oil output being 17 million tons.
The head of RussNeft pointed out that the company intended to deliver the crude oil which had before been sold at the local market to the newly acquired refineries (Orsknefteorgsintez and Krasnodar Refinery). At the same time the company will continue to deliver crude oil to the Syzran Refinery most likely to be bought from the local market.
Talking about expansion of the company’s refining capacities M.Gutseriev said that in the nearest future RussNeft was not going to buy new refineries, but if refineries in Syzran and Bashkiria are offered for sale the company will think of taking part in the tenders.
He also informed that in 2006 the Bryansk oil loading rack possessed by the company was going to transship 3 million tons of crude oil bound for Byelorussia. M.Gutseriev didn’t rule out the possibility of putting up a refinery basing on the terminal which in fact could be integral part of the oil refinery shipping oil for export. According to the head of RussNeft, it could be more appropriate and profitable to sell out finished products (petroleum products). Currently such ideas are being developed by the company’s experts, who have already done a feasibility study of the future project, but no final decision has yet been made on the subject, concluded M.Gutseriev.
Oil Company RussNeft OAO is an oil holding comprising 30 producing entities, 2 refineries, 2 transport companies, and a retail network numbering 300 gas-filling stations. The enterprises of the company are found in 17 regions of Russia and CIS. The total recoverable reserves of RussNeft exceed 630 million tons, its annual oil output being 17 million tons.
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