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RussNeft to Take Part in Tender on Slovakian Transpetrol – M.Gutseriev

26.12.2005 "Prime-TASS"

RussNeft is going to take part in the tender on Slovakian company Transpetrol. It was announced at a press-conference by President of the company Mikhail Gutseriev.

“We are interested in this asset from the point of view of our interaction with Hungarian MOL,” said he. At this M.Gutseriev commented that the price could differ by several millions from what was anticipated.
M.Gutseriev also informed that presently the company was negotiating acquisition of assets in Kazakhstan, Azerbaijan, however he didn’t clarify what exactly he was talking about.
RussNeft is not after more refineries in Russia. “First of all we must supply with feed our own refineries, do the logistics, but if there are interesting proposals for refineries we won’t decline the purchase,” said M.Gutseriev.
At this he mentions the possibility of acquiring refineries in Bashkiria and Syzran.
At the same time M.Gutseriev said that the company was considering construction of an oil refinery in the Bryansk region where RussNeft had already put up an oil loading terminal. As M.Gutseriev pointed out the oil loading rack meant at least 25% of an oil refinery. “There is an offer to build a refinery in Bryansk which we are considering. We already have a feasibility study of the construction but so far there are no concrete plans,” said M.Gutseriev. He also said that to buy an oil refinery was cheaper than to build a new one.
At the press-conference M.Gutseriev again voiced his intention to convert RussNeft into an international transnational company.

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