PJSC “RUSSNEFT” WILL APPROVE OF ITS 2017-2019 DEVELOPMENT STRATEGY ON THE 7TH OF NOVEMBER
Moscow. PJSC “RussNeft” Board of Directors will approve of 2017-2019 development strategy in advance of the IPO.
The Agenda of the Meeting of the Board of Directors on the 7th of November has the Item “On approval of PJSC “RussNeft” development strategy for 2017-2019”.
It was said earlier that PJSC “RussNeft” Board of Directors will elect a new president on the 7th of November. Oleg Gordeev is the current president of the Company.
Mikhail Gutseriev reported earlier he intended to sell not less than 10% of its shares through IPO, highlighting that only PJSC “RussNeft” will be offered at IPO. He reminded that the Company has 553 mln tons of oil reserves in balance.
Glencore trading company is the co-owner of PJSC “RussNeft”, its previous share amounted to 46%. As said before, Glencore’s share may fall to 25% after PJSC “RussNeft” redeems the debt to the trader.