News
True Grand.
RussNeft, an oil company of the second echelon, has bypassed the majors of the industry in the fight for the assets of Moscow’s fuel market. According to the information available at the Profile, the company is to finalize the purchase of the second largest retail network called association Grand before the end of 2005.
94 Investment Projects to Be Implemented in Chechnya’s Capital.
At the administration of Grozny there have been reviewed the results of carrying out investment projects on the territory of the town in the time period from 2001 to 2005. The most vivid example of the investment in the Republic of Chechnya is lyceum school No 23, presently under construction.
RussNeft Won by Auction Right to Develop Salymsky-1 in KhMAO.
Aki-Otyr OAO controlled by RussNeft of Mikhail Gutseriev has won by auction the right to develop the Salymsky-1 site in Khanty-Mansiysk Autonomous Okrug. The information was conveyed by AK&M with reference to Igor Bakai, the head of KhMAO’s Subsoil Use Territorial Agency.
RussNeft Buying Retail Network Grand.
NK RussNeft OAO is buying Moscow’s biggest independent network of petrol stations, Association Grand ZAO.
Mikhail Gutseriev, president and major owner of company RussNeft is enhancing its oil business.
The company has acquired association Grand possessing 59 petrol stations in Moscow and 5 in the province. This is the second largest metropolitan retail network. As estimated by experts the amount of the deal ranges from $100 to $200 million. Another nearly $300 million RussNeft is prone to invest in 66% of Geoilbent, Novatek’s oil production asset.