Alliance is forbidden to borrow.
Edited by Rhod Mackenzie / 2015-09-30 06:27:35
Finance Oil and Gas Refining Russia Financial results Shares Russia Oil and Gas Oil Production and Refining
The company can not attract new loans due to rising debt burden.
Alliance Oil Company of Eduard Khudainatov became the first Russian oil company, which is on the brink of violation of covenants on its loans. Lenders have already banned the company to raise new debts, and now it is going to actively save. Alliance expects to reduce the high cost of logistics by connecting its Khabarovsk refinery to the ESPO pipeline, and plans to invest only in the maintenance of facilities. Despite the difficult situation of the company, experts do not expect its bankruptcy.
