Russia's Komitek Oil scraps 15 % foreign ownership rule

Jul 29, 1997 02:00 AM

July 18, 1997 Russia's KomiTEK oil company, parent of oil producer Komineft, said shareholders had voted to scrap a rule limiting foreign ownership to 15 percent. KomiTEK spokesman Felix Gelman said shareholders had approved in principle a motion to boost authorised capital by 5 billion roubles. Current capital is about 1.66 billion roubles. "A decision on issuing shares within the declared limits will be taken by the board of directors," Gelman said. He did not specify when any possible issue might occur or whether such an issue would be a bonus issue or raise new funds.

KomiTEK owns 51 % of Komineft, its main production unit. KomiTEK accounted for about 1.5 % of Russia's total crude oil output and exports in 1995, the last year for which percentage comparison figures were immediately available.

Source: not available
Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

read more ...
« January 2021 »
January
MoTuWeThFrSaSu
1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

Register to announce Your Event

View All Events