27 Aug 2009 16:11

Moscow Oil Refinery fails to elect new board

MOSCOW. Aug 27 (Interfax) - An extraordinary shareholders meeting called to elect a new board of directors at the Moscow Oil Refinery was unable to go ahead due to the absence of a quorum, a source with knowledge of the situation told Interfax.

In other words, the board still consists of representatives of the core shareholders - four from each of Sibir Energy subsidiary Moscow Oil & Gas Company, on the one hand, and Gazprom Neft on the other.

The source said a new date for the EGM had not yet been scheduled.

Moscow NPZ Holdings B.V., a joint venture between Sibir Energy and Gazprom Neft, owns 90.02% ordinary shares or 77.25% issued shares in the refinery. Deutsche Bank is trustee of these shares.