Khudainatov reorganizing his assets, dumping IPC brand
MOSCOW. August 30 (Interfax) - Independent Petroleum Company (IPC) owner Eduard Khudainatov has begun carrying out a widespread reorganization of his assets and is slowly dumping the IPC brand, according to a statement from the company's subsidiaries and data in the SPARK-Interfax system.
With this aim, he has moved his main asset, Khabarovsk Oil Refinery , to the balance of a new company JSC Neftepererabotka (Oil Refining, unofficial translation). At the same time, Khudainatov transferred three IPC sales subsidiaries, NNK-Khabarovsknefteprodukt , NNK-Bunker and NNK-Baikalnefteprodukt, to a new company, JSC Sbytovoi Tsentr (Sales and Distribution Center).
Both companies, Neftepererabotka and Sbytovoi Tsentr, were created at the end of July and registered in Moscow at the same address as IPC. Khudainatov headed them when they were created, but after two weeks Andrei Polyakov from IPC was appointed president of Sbytovoi Tsentr.
Sbytovoi Tsentr and Neftepererabotka both do not belong to any of IPC's companies. Their parent company, Apelda Investments Ltd., is registered in Cyprus. According to SPARK-Interfax, the company's main business activities involve investments in securities.
The previous week, another IPC subsidiary, NNK-Aktiv, was renamed JSC Neftegazholding (Oil and Gas Holding). The new name includes the word 'holding,' at a time when the company is one of Alliance Oil's subsidiary enterprises.
The Tomsk-based NNK-VTK also dumped the term 'NNK' from its name and is now known simply as VTK (Vostochnaya Transnatsionalnaya Kompaniya or Eastern Transnational Company).
IPC's website (www.ipc-oil.ru) has not been working for the last two months and when opened it sayd the website is under construction.
In addition, the company recently dismissed its Financial Director and part-time IPC presidential advisor Leonid Vidny. The company's press office was dissolved a year ago, after which IPC stopped publishing any up-to-date information on its website.