Sibir Energy was

AIM AIM or Aim may refer to: Computing * AIM alliance, an Apple-IBM-Motorola alliance * AIM (software), AOL Instant Messenger * Fortyfive, a Japanese software development company previously known as AIM Military * Abrams Integrated Management, an ...

-listed British oil company, whose primary line of business is

petroleum Petroleum, also known as crude oil or simply oil, is a naturally occurring, yellowish-black liquid chemical mixture found in geological formations, consisting mainly of hydrocarbons. The term ''petroleum'' refers both to naturally occurring un ...

and

natural gas Natural gas (also fossil gas, methane gas, and gas) is a naturally occurring compound of gaseous hydrocarbons, primarily methane (95%), small amounts of higher alkanes, and traces of carbon dioxide and nitrogen, hydrogen sulfide and helium ...

exploration in

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. Since February 2011, it is a wholly owned subsidiary of

Gazprom Neft Gazprom Neft (; formerly Sibneft, ) is the third largest oil producer in Russia and ranked third according to refining throughput. It is a subsidiary of Gazprom, which owns about 96% of its shares. The company is registered and headquartered in ...

. In February 2016,

Gazprom PJSC Gazprom ( rus, Газпром, , ɡɐsˈprom) is a Russian State-owned enterprise, majority state-owned multinational Energy industry, energy corporation headquartered in the Lakhta Center in Saint Petersburg. The Gazprom name is a contract ...

completely liquidated Sibir Energy as a separate company.

History

Sibir was founded in 1996, and since then it had pursued an integrated model for its business operations by retaining a focus on retail as well as its core exploration, extraction and refinery activities. On 21 August 2009,

made a bid to take over all shares in Sibir Energy. On 15 February 2011, it announced becoming the only shareholder in Sibir Energy after the withdrawal of the Moscow government-controlled Central Fuel Company. The Central Fuel Company The received $740 million for its stake In February 2016, Gazprom announced that it had completely liquidated Sibir Energy as a separate company as part of its asset restructuring.

Operations

The company's primary assets are Salym oil fields in

Nefteyugansk Nefteyugansk () is a city in Khanty-Mansi Autonomous Okrug, Russia, located south of the Ob River, close to the larger city of Surgut. Population: History It was founded on October 16, 1967, after an oil field had been discovered on a smal ...

area operated by Salym Petroleum Development, a 51% voting share in Moscow Oil Refinery, operated in partnership with

, and a substantial interest in Moscow-based gasoline retail networks. Through its subsidiary, Magma, Sibir Energy has interests in the Yuzhnoye and Orekhovskoye fields in West Siberia. It owns the Moscow Oil and Gas Company (formerly: The Moscow Oil Company).

Listing

Before takeover by Gazprom Neft, Sibir Energy's shares were traded on the

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. The largest shareholders were Gazprom Neft and the Moscow city government together with the

Bank of Moscow The Bank of Moscow () was a Russian bank that provided banking services to both corporate and retail customers until May 2016. Headquartered in Moscow, the bank had 267 outlets, including branch offices and cash desks. BoM had over 114,000 corpor ...

. A minor stake was held by

Sberbank The Public JSC Sberbank (, initially a contraction of ) is a Russian majority state-owned banking and financial services company headquartered in Moscow. As the Russian successor entity of the State Labor Savings Banks System of the USSR, it was ...

, pledged as loan collateral by Russian businessman Shalva Chigirinsky.

Management

Chairman of the company is Vadim Yakovlev and CEO is Igor Tsibelman. Non-executive directors are Dmitry Bekker, Maxim Viktorov and Andrei Martianov.

Investigations

In late February 2009, Sibir Energy suspended its chief executive with immediate effect and launched an investigation into property dealings that the company had agreed with one of its former largest shareholders Shalva Chigirinsky. The company is suing Shalva Chigirinsky for at least US$325 million for a failed bid to sell his real estate assets to the company. On July 8, 2009, Russian police raided into the company's Moscow office and took away some corporate documents.

References

External links

*
Salym Petroleum, subsidiary of Sibir Energy - official website
{{Authority control Companies formerly listed on the London Stock Exchange Oil companies of Russia Gazprom subsidiaries Companies based in Moscow