RussNeft to Buy a Refinery.

NK RussNeft is planning to buy oil refining assets by the end of 2005 as was stated by the Company President Mikhail Gutseriev at a press conference.
According to him, RussNeft is thinking of buying refining capacities either through acquiring a stake of assets of an existing refinery or through building a new refinery in one of the regions where the Company is active.
One of the possible options may become construction of a refinery in Kalinigrad having 7 million tons of designed capacity. "Presently a feasibility report and project documents are being developed. Upon completion the Company will decide whether it is profitable to build a new refinery", pointed out M. Gutseriev.