News

Oil Company RussNeft is going to spend RUR600 million for the development of ‘Krasnodar Oil Refinery – Krasnodarekoneft’ ZAO, the company says in a statement. The tax proceeds to the budget of the Krasnodarsky krai will be doubled in 2006 from RUR100 million a year to RUR200 million.

Oil Company RussNeft OAO plans to invest in 2006 nearly RUR600 million in the development of ‘Krasnodar Oil Refinery – Krasnodarekoneft’ ZAO, as reported in the press-release of RussNeft on the results of the meeting between President of the company Mikhail Gutseriev and Governor of the Krasnodarsky krai Alexander Tkachov.

Businessman Mikhail Gutseriev is at the head of the Russian-Algerian Business Council

Yesterday President and co-owner of RussNeft Mikhail Gutseriev said his company is ready to hand over to Lukoil 35% of its stake at Geoilbent OOO in exchange for some other producing assets. According to Ъ, Lukoil has offered RussNeft to choose between a number of producing assets in Volgograd and Perm regions as well as in the Republic of Komi. The company of Mikhail Gutseriev expects to get for its stake at Geoilbent one or several assets with up to 500 thousand tons of annual oil production.

President of RussNeft Mikhail Gutseriev has been elected Chairman of the Russian-Algerian Business Committee, informs a correspondent of the Oil Information Agency, or ANI, present at the meeting of the Committee.