RussNeft Finalized Acquisition of 62 Percent Stake of Tomsk Neft.

 As informed earlier RussNeft submitted an application to the Federal Antimonopoly Service of RF (FAS) to enable acquiring Multitype Company Aganneftegasgeologiya OAO and Tomsk Neft ZAO. According to the Fuel and Energy Complex’ Central Dispatcher Board beginning from April 2005 the oil production of Tomsk Neft has been consolidated as part of RussNeft.  Some time ago a subsidiary of China National Petroleum Corporation (CNPC) aspired after 100% stake of Tomsk Neft. In the end of 2004 the company submitted a respective application to the FAS. NK RussNeft OAO, a vertically integrated oil holding company, is one of the 10 biggest oil and gas companies of Russia. In the structure of RussNeft there are 25 producing, refining and transport enterprises, as well as retail network having its petrol stations in 13 regions of Russia and CIS. Total recoverable resources of RussNeft exceed 600 million tons of crude oil. Yearly volumes total 14 million tons.