KiNEx (Kirishineftekhimexport, Russian acronym for 'Kirishi petroleum chemical export') () is a Russian joint stock company, subsidiary of
Surgutneftegaz, specializing in wholesale crude and refined oil trading, especially of the refined oil production of
Kinef, mostly abroad in Northern Europe. Its refinery at Kirishi is the closest to Europe.
It was founded in 1987 as a subdivision of the
Kirishinefteorgsintez refinery, based in
Kirishi,
Leningrad Oblast
Leningrad Oblast (, ; ; ) is a federal subjects of Russia, federal subject of Russia (an oblast). The oblast has an area of and a population of 2,000,997 (2021 Russian census, 2021 Census); up from 1,716,868 recorded in the 2010 Russian census ...
, to conduct external economic activity of the latter, but in 1991 became independent state-owned enterprise headed by
Gennady Timchenko.
() was the general director of KiNex.
In 1990 Kirishineftekhimexport together with
Volgotanker, the Dutch firm Sadko and the state-owned Sovfintrade () and several individuals founded joint venture Urals Ltd. Its
Finnish subdivision Urals Finland Oy became the main foreign customer of Kirishineftekhimexport, as it required much less efforts and bureaucratic burden to export oil to a single company. Urals Finland Oy later separated from Urals JV Ltd. and in 1995 entered the KiNEx holding as IPP International Petroleum Products Oy. In 1990s Kirishineftekhimexport also became successful in exporting oil to
Estonia
Estonia, officially the Republic of Estonia, is a country in Northern Europe. It is bordered to the north by the Gulf of Finland across from Finland, to the west by the Baltic Sea across from Sweden, to the south by Latvia, and to the east by Ru ...
, which in 1990 was still a part of the
Soviet Union
The Union of Soviet Socialist Republics. (USSR), commonly known as the Soviet Union, was a List of former transcontinental countries#Since 1700, transcontinental country that spanned much of Eurasia from 1922 until Dissolution of the Soviet ...
.
In 1994 Kirishineftekhimexport was privatized by its top-managers Adolf Smirnov (), Andrei Katkov (), Yevgeni Malov () and Gennady Timchenko and became a joint stock company registered in
Saint Petersburg
Saint Petersburg, formerly known as Petrograd and later Leningrad, is the List of cities and towns in Russia by population, second-largest city in Russia after Moscow. It is situated on the Neva, River Neva, at the head of the Gulf of Finland ...
. It had been headed by Director General Adolf Smirnov until his death in 2004. Since then has been its Director General. The company had its own oil fields in the
Khanty–Mansi Autonomous Okrug, but later sold them out.
In 1996 the state sold its remaining 49% stake in the company. In the same year financial and investment projects of KiNEx were transferred to the KiNEx Invest JSC, owned by Smirnov, Katkov, Malov and Timchenko (by 25% each) and headed by Director General Yury Yerofeyev. In 1998 KiNEx Invest acquired control over a 20.7% share of the
Russia Bank through the Finnish firm IPP with Andrei Katkov, who is a representative of KiNEx, as head of the bank's board of directors.
Юрий Валентинович Ковальчук
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Notes
References
External links
{{Portal, Russia, Energy
(in Russian)
KiNEx Invest
(in Russian) 21 September 2007
KiNEx Invest
(in Russian) 4 March 2016
Oil companies of Russia
Oil companies of the Soviet Union
Companies based in Leningrad Oblast