24 Oct 2021 10:00 30 years ago

Soyuzneftexport denationalized

This news story first came out 30 years ago to the day, and we are publishing it today as part of Interfax's project, "Timeline of the Last Days of USSR. This Day 30 Years Ago." The project's goal is to reconstruct as fully as possible the timeline of the last few months of 1991 and to give everyone interested in understanding the historical processes of that period the opportunity to study and analyze the events that led to and accompanied the collapse of the Soviet Union and the emergence of the new Russian state. The complete timeline can be found in Russian.

MOSCOW. Oct 24 (Interfax) - Soyuzneftexport, the major Soviet foreign trade organization which until recently has held a monopoly on the export of oil and oil products, has announced its transformation into an independent Russian oil company Nafta Moskva.

The company told Interfax that the decision had been taken unanimously at a staff meeting on Wednesday. Nafta Moskva is a closed joint stock company.

Soyuzneftexport, which employed about 250 people in Moscow and other Soviet ports and dozens of Soviet and foreign staff at subsidiaries abroad, will export about 80 million tonnes of oil and oil products in 1991, roughly 90% of the total volume of exports expected from the USSR. In a press release the former Soyuzneftexport company declared that the new firm was prepared to "fulfil tasks stemming from international agreements" and forge agreements for the export of oil and oil products with both state and private enterprises. The company said Nafta Moskva's commissions would be "minimal".

Nafta Moskva, declaring itself to be the successor of Soyuzneftexport, also said it was "prepared to cooperate with other sovereign states and republics" and intended to become involved "on a long- term basis" in investment projects in Russia and other states.