Russneft Sells Orsk Refinery

摘要

As part of its strategy to boost crude production and pay off debt, indepen- dent Russneft has sold its 120,000 b/d Orsk refinery to "foreign investors" and is now solely an upstream player. Although the company refuses to divulge the name of the buyer — which according to press reports is a Cyprus-registered offshore firm — market sources tell Nefte Compass it could be linked to Mikhail Gutseriyev, Russneft's President and major share- holder. Gutseriyev already controls a number of oil assets, including 11,000 b/d Russian producer Komnedra and projects in Azerbaijan.