Gazpromneft
Encyclopedia
This article is about a former subsidiary of Gazprom. For the current oil arm of Gazprom, see Gazprom Neft
.
Invest Union (formerly Gazpromneft) is a Russian company based in St. Petersburg and a former subsidiary of Gazprom
.http://www.rusbonds.ru/ank_org.asp?emit=87668 It is not to be confused with Gazprom Neft
(formerly Sibneft), which is another company.
On 19 December 2004, Gazpromneft (along with Baikalfinansgrup
) participated in a State-run auction for former Yukos
subsidiary Yuganskneftegaz
. At the time of the auction, the CEO of Gazpromneft was Sergey Bogdanchikov
, the then and current President of Rosneft
.http://www.kommersant.com/page.asp?idr=500&id=-2970
Gazpromneft did not place a bid at the auction, allowing Baikalfinansgrup
to obtain Yuganskneftegaz
at the lowest bid, which was less than half Yuganskneftegaz
's market value at the time.
Four days later, on 23 December 2004, Baikalfinansgrup
was purchased by Rosneft
, causing considerable controversy as to the propriety of the auction.
Gazprom Neft
Gazprom Neft is the fifth largest oil producing and refining company in Russia. It's the oil arm of Gazprom, which owns 80% of Gazprom Neft's shares....
.
Invest Union (formerly Gazpromneft) is a Russian company based in St. Petersburg and a former subsidiary of Gazprom
Gazprom
Open Joint Stock Company Gazprom is the largest extractor of natural gas in the world and the largest Russian company. Its headquarters are in Cheryomushki District, South-Western Administrative Okrug, Moscow...
.http://www.rusbonds.ru/ank_org.asp?emit=87668 It is not to be confused with Gazprom Neft
Gazprom Neft
Gazprom Neft is the fifth largest oil producing and refining company in Russia. It's the oil arm of Gazprom, which owns 80% of Gazprom Neft's shares....
(formerly Sibneft), which is another company.
On 19 December 2004, Gazpromneft (along with Baikalfinansgrup
Baikalfinansgrup
Baikalfinansgrup is a Russian limited liability company owned by Rosneft Oil Company. It is best known as the company that won the December 19, 2004 auction for a 76.79% share in Yuganskneftegaz, formerly the core production subsidiary of Yukos Oil Company...
) participated in a State-run auction for former Yukos
YUKOS
OJSC "Yukos Oil Company" was a petroleum company in Russia which, until 2003, was controlled by Russian oligarch Mikhail Khodorkovsky and a number of other prominent Russian businessmen. After Yukos was bankrupted, Khodorkovsky was convicted and sent to prison.Yukos headquarters was located in...
subsidiary Yuganskneftegaz
Yuganskneftegaz
Yuganskneftegaz is a wholly integrated subsidiary of Rosneft that owns and operates the second largest oil production complex in Russia. It was formerly the most important production subsidiary of Yukos, but was expropriated by the Russian government and given to Rosneft, a state-owned...
. At the time of the auction, the CEO of Gazpromneft was Sergey Bogdanchikov
Sergey Bogdanchikov
Sergey Mikhailovich Bogdanchikov is a Russian manager.He received a degree from Buguruslansky Gas Technicum in 1976. In 1981, Mr Bogdanchikov earned a PhD from Ufa Gas Institute....
, the then and current President of Rosneft
Rosneft
Rosneft is an integrated oil company majority owned by the Government of Russia. Rosneft is headquartered in Moscow’s Balchug district near the Kremlin, across the Moskva river...
.http://www.kommersant.com/page.asp?idr=500&id=-2970
Gazpromneft did not place a bid at the auction, allowing Baikalfinansgrup
Baikalfinansgrup
Baikalfinansgrup is a Russian limited liability company owned by Rosneft Oil Company. It is best known as the company that won the December 19, 2004 auction for a 76.79% share in Yuganskneftegaz, formerly the core production subsidiary of Yukos Oil Company...
to obtain Yuganskneftegaz
Yuganskneftegaz
Yuganskneftegaz is a wholly integrated subsidiary of Rosneft that owns and operates the second largest oil production complex in Russia. It was formerly the most important production subsidiary of Yukos, but was expropriated by the Russian government and given to Rosneft, a state-owned...
at the lowest bid, which was less than half Yuganskneftegaz
Yuganskneftegaz
Yuganskneftegaz is a wholly integrated subsidiary of Rosneft that owns and operates the second largest oil production complex in Russia. It was formerly the most important production subsidiary of Yukos, but was expropriated by the Russian government and given to Rosneft, a state-owned...
's market value at the time.
Four days later, on 23 December 2004, Baikalfinansgrup
Baikalfinansgrup
Baikalfinansgrup is a Russian limited liability company owned by Rosneft Oil Company. It is best known as the company that won the December 19, 2004 auction for a 76.79% share in Yuganskneftegaz, formerly the core production subsidiary of Yukos Oil Company...
was purchased by Rosneft
Rosneft
Rosneft is an integrated oil company majority owned by the Government of Russia. Rosneft is headquartered in Moscow’s Balchug district near the Kremlin, across the Moskva river...
, causing considerable controversy as to the propriety of the auction.