ForteInvest’s head Said Gutseriev tells, why he changed Glencore for Orsk refinery

In December 2014, Mikhail Gutseriev’s ForteInvest became the principal owner of the Orsk refinery. This is one of the few assets in the Russian oil processing, which wasn’t included in large vertically integrated holding companies. About why ForteInvest won’t be included in the united oil company, which Mikhail Gutseriev creates with Glencore, about the impact of the tax maneuver on the refinery and about assets, which are considered by the company, general director of ForteInvest and the company owner's son Said Gutseriev told the Kommersant.

- You headed ForteInvest - the company that owns the Orsk refinery. Who is its owner now and how did you becmme its leader?

- I received the offer to lead the company last December. I have long been engaged in the oil and gas business. This is my profession, which I studied at the university. The industry, which is really close to me by virtue of intellectual and creative interests and, if you wish, the family tradition.

I watched this company for a long time, I believe that it has the potential for growth, it has a young ambitious team, combined with experienced professionals in the refinery business. My father Mikhail Gutseriev proposed me to lead ForteInvest. After I graduated from university in England, there was a choice: either I will immediately return to Russia, or I will work there. I chose the latter – I started working at Glencore, first in the financial division, then moved to assets management. I wanted to see how the western business is inside, how business is doing there, to gain more experience. Just six months ago I returned to Russia.

Full text available to premium subscribers only.

Buy full access for 24 hours now


Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer