April 2005

04.04.2005
RussNeft Buying Retail Network Grand.
NK RussNeft OAO is buying Moscow’s biggest independent network of petrol stations, Association Grand ZAO.

NK RussNeft OAO is buying Moscow’s biggest independent network of petrol stations, Association Grand ZAO, as Interfax oil information agency has come to know from one of the participants of the metropolitan fuel market. The deal is said to be finalized in the nearest months and will presumably cost $100 million. Association Grand ZAO has operated at Moscow’s wholesale and retail markets since 1992. Presently Grand owns 59 petrol stations in Moscow, and as well as some stations in the Moscow region and Kranodarsky krai. RussNeft consolidates 20 producing companies in Western Siberia, Tomsk, Penza, Samara, Novosibirsk, Ulyanovsk, Bryansk, Archangelsk regions, Republics of Komi and Udmurtia, as well as Byelorussia.  
According to the results of 2004, RussNeft produced 10 million tons of crude oil, the recoverable reserves of the company amounting to 450 million tons.


Source: "Vremya Novostey"