Surgutneftegaz to relinquish foreign assets - the company’s General Directors sees no sense to invest into them

The oil company Surgutneftegaz intends to work only in Russia, its General Director Vladimir Bogdanov stated at the meeting of shareholders on Friday. “We consider that to work in Russia is more efficient, in spite of high taxes, difficulties with tariffs of natural monopolies and the unstable legislation,” – Vedomosti cites him today.

Lets note that the not very successful experience of foreign expansion has forced  the leadership of the oil giant to make such a statement. In 2011, the story with the purchase of a share in the oil-processing concern MOL (Hungary) finished: its management didn’t want to give  voting rights to its new shareholder, reproached it for its unwillingness to disclose the owners of the company. After 18 months of trying to find a common language with the Hungarians, the company of Vladimir Bogdanov sold its package to the Hungarian Government - and did this, by the way, with  benefits.