Gazprom Neft gets majority on Moscow Oil Gas Co board
Friday, 23 Oct 2009
Interfax reported that Gazprom Neft got seven representatives elected to the board of directors at Moscow Oil & Gas Company which controls the Moscow Oil Refinery at an EGM.
MOGC said the City of Moscow got five representatives on the board.
The Gazprom Neft directors include Mr Alexander Dyukov, the company chief and the City representatives include Mr Mayor Yury Luzhkov who will chair the board.
MOGC is wholly owned by Britain Sibir Energy. Gazprom Neft bought 55% of Sibir in the Q2 of 2009 but it is thought to control around 81% of the shares directly and indirectly. The City of Moscow owns just over 19% of Sibir. It and Sibir used to have equal representation on the MOGC board, but the balance has now swung in favor of Gazprom Neft.
