Russneft buys the Orsk refinery

Mikhail Gutseriev, who is building a new oil company on the basis of its Russneft, has returned Orsk refinery, which it sold to structures of Igor Shkolnik in 2011. The amount of the transaction wasn’t disclosed, but sources of the Kommersant say that it shouldn’t be more than $1 billion, at the same time emphasizing that Russneft has already virtually controlled the plant and only a formal change of ownership took place.

ForteInvest of the Russneft’s head Mikhail Gutseriev has increased its stake in the Orsk refinery from 8.07% to 85.26%. According to the report of the plant, the transaction was closed on December 29, 2014. Prior to that, 71.94% of it belonged to Sermules Enterprises Ltd, the sole owner of which is Virginian company Cipation Holdings Ltd (owned by Igor mpany on the basis of its Russneft, has returned Orsk refinery, which it sold to structures of Igor Shkolnik, son of the Energy Minister of Kazakhstan Vladimir Shkolnik).