July 2006

27.07.2006
Oil and Gas Company RussNeft’s Neftemaslozavod Increases Raw Refining 16% - 16.8 thousand tons over First Six Months of 2006
OAO Neftemaslozavod – OAO Oil and Gas Company RussNeft’s subsidiary- has increased its raw refining 16% over the first six months of 2006 as against the similar period in 2005 –16.8 thousand tons – Oil and Gas Company RussNeft’s Press Service reports. In 2006 the subsidiary plans to refine a total of 35 thousand tons of raw.

In particular, over the period under report OAO Neftemaslozavod has produced 5.8 thousand tons of engine oils, 0.3 thousand tons of transmission oils, 6.6 thousand tons of industrial oils, 0.6 thousand tons of lubricants, 1.9 thousand tons of coolant and process liquids, 0.9 thousand tons of slushing materials and 0.6 thousand tons of ceresin wax products.
Subsidiary’s sale over the first six month of this year has amounted to 17.6 thousand tons of petroleum products; it is 27% more than in January-June 2005.
On December, 21 2005 Oil and Gas Company RussNeft fulfilled acquisition of four companies – Saratovneftegaz, Orsknefteorgsintez, Orenburgnefteproduct and Neftemaslozavod from TNK BP. The transaction was a part of TNK BP’s assets review.
Oil and Gas Company RussNeft is an oil holding. It comprises 30 producing entities, 2 oil refineries and 2 transporting entities, a distribution network of 300 gasoline filling complexes in 17 Russian regions and CIS. RussNeft’s total recoverable resources exceed 630 million tons; the annual production in 2005 reached the point of 17 million tons.

Source: "RosBusinessConsulting"