Source Pravda.Ru

Sibneft receives larger stake in Moscow Oil Refinery

Russia's oil company Sibneft has increased its stake in the Moscow OilRefinery to 38.5 percent, an analytical report of the Rennaisance Capitalinvestment group says. Sibneft representatives have neither confirmed nordenied this information.At the beginning of 2002, Sibneft purchased a 36-percent block of shares inthe Moscow Oil Refinery from LUKoil, and then increased this stake to 37percent, paying a total of $254m. Other shareholders of the Moscow OilRefinery are the Central Fuel Company (51 percent), which is owned by theMoscow government, and Tatneft oil company (10 percent)..

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