Gazprom Neft takes reins at Sibir Energy

New owners: for Sibir Energy

By News Wires

 15 February 2011 12:39 GMT

Russia's oil producer Gazprom Neft said today it has become the only shareholder in Sibir Energy after the withdrawal of the Moscow government-controlled Central Fuel Company.



"The Central Fuel Company will receive compensation for the previously held block of shares in Sibir Energy in the amount of $740 million," Reuters quoted the company as saying.

Sibir Energy's board of directors reduced the company's share capital by 22.39% or 86.25 million shares after the Central Fuel Company's withdrawl.

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