Rus News Journal

The conflict of the State Property Committee with Rosneft

Shareholders Purneftegaz have disagreed with the government

Yesterday the State Property Committee of Russia has terminated the contracts with the state enterprise Rosneft according to which last exercised commercial administration of a part of actions of joint-stock company Purneftegaz and Sahalinnefteprodukt being in the federal property (38 %). Now actions will be transferred in the oil company Sidanko created the order of the government of Russia, and thus will put the end to the conflict Rosneft with the State Property Committee concerning these actions. Rosneft denies that this conflict in general took place. However a press - the secretary of the State Property Committee has confirmed that GKI demanded from Rosneft voluntary to transfer disputable actions, but Rosneft has not fulfilled this requirement. After that in several news agencies there was a message that Rosneft does not carry out the decision of the government and does not give the action of the mentioned joint-stock companies which include the largest enterprises of Ministry of Fuel and Energy of Russia. The State Property Committee has rejected the participation in distribution of this message which can be considered as pressure on Rosneft .

As it is known, in November, 1992 Boris Yeltsin`s decree to an oil complex of Russia had been defined a special order of privatisation. According to the decree three oil joint-stock companies have been created: LUKOIL Yukos and Surgutneftegaz in which the controlling stock is in the federal property. Their infrastructure consists of the oil-extracting, processing enterprises, and also the structures which are engaged in realisation of oil products. The same decree had been created the state company Rosneft which should exercise commercial administration of actions of the enterprises of Ministry of Fuel and Energy. Thus under the contract between the State Property Committee and Rosneft in management 38 % of actions of all enterprises of Ministry of Fuel and Energy were transferred to the last. According to the president Rosneft Alexander Putilova, all them in Russia 259, and contracts have concluded approximately with 50 enterprises (including from joint-stock company Purneftegaz and Sahalinnefteprodukt ) .
By words g - on Putilova, in September, 1993 men of weight in state institutions have considered that the given system is inefficient, and have offered the new scheme of management of an oil complex by creation vertically - the integration companies in which 51 % of actions will belong to the state. On a plan of organizers it should accelerate section toplivno - the power market of Russia. The plan was embodied in the document in the spring of 1994 when Ministry of Fuel and Energy has prepared the management Concept an oil complex of Russia .
the Siberian Far East oil company - " became One of the companies founded within the limits of this concept; Sidanko 1994 governmental order of Russia created in May. Founders of this joint-stock company of a steel of 5 oil-extracting associations ( Vareganneftegaz Kondpetroleum Chernogorneft Udmurtneft Purneftegaz ) Two processing factories ( the Angarsk petrochemical company and the Saratov oil refining factory), and also the enterprise for sale of oil products Sahalinnefteprodukt . Under the government order all these enterprises should transfer 38 % of actions in Sidanko . A press - the secretary of the State Property Committee Vladimir Gershin has declared to the correspondent that on July, 19th the State Property Committee has sent the letter in Rosneft with the requirement voluntary to transfer disputable actions in Sidanko . Over the weekend this requirement has not been executed. And in the end of last week in several news agencies (for example, Interfax ) There were messages that Rosneft does not carry out the decision of the government of Russia.
the president Rosneft Alexander Putilov has declared to the correspondent that this message is false and Rosneft does not refuse to transfer at all disputable stock in Sidanko . However, on explanations g - on Putilova, Rosneft has received actions under the contract with the State Property Committee in which the mechanism of cancellation of this contract has been provided also. By words g - on Putilova, GKI itself should to show the initiative and to terminate the contract. As it did not occur, the rights to management of actions remain till now at Rosneft . As a whole g - n Putilov considers that its firm does not have any conflict with GKI.
G - n Putilov also has explained to the correspondent that such structure, as Sidanko has essential lacks. In it the system of sale of oil products is very badly thought over. So, for example, it includes only one enterprise which is engaged in their realisation, - Sahalinnefteprodukt . It can lead to that all Severo - east region of Russia will have deficiency of fuel as there is no pipeline from Irkutsk to Primorski Krai, these areas whence are supplied. Rosneft has given to offer Ministry of Fuel and Energy, having specified that in Sidanko should enter and other enterprises for sale of oil products in deficiency avoidance. In the ministry have not reacted yet to these offers.
in this connection g - n Putilov understands unwillingness of shareholders Purneftegaz to enter in Sidanko . In May shareholders have expressed the opinion at general meeting and have wished to enter in similar Sidanko structure at Rosneft - the National oil company which only is created. However g - n Putilov has especially noticed that the actions which are in the federal property, the State Property Committee and " disposes; Rosneft in any way does not prevent GKI to make the decisions and the conflict between them is not present.

LEONID - BERRES