Support The Moscow Times!
Contribute today

Russneft Owner Buys Stake in British Oil Firm Exillon Energy

By The Moscow Times

Chief executive and principal owner of oil companies Russneft and Neftisa Mikhail Gutseriyev has bought a 15-percent stake in London-based oil producer Exillon Energy.

Exillon's management said the company may be sold before the year's end, which, experts say, will allow Gutseriyev to acquire at least the controlling stake in the company, which pumps oil in Western Siberia, Kommersant reported.

Gutseriyev bought the stake from Swiss investment fund Worldview, according to the London Stock Exchange. The deal values Exillon at $711 million.

Exillon's largest shareholder is the Kazakh businessman Maksat Arip. JP Morgan, Capital Group Companies and Henderson Global own 11 percent, 8 percent and 3 percent of the company, respectively.

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more

perfect storm

What's Causing Russia's Record Floods?

Above-average snowfall followed by a rapid spring thaw, a warmer planet and human influences have all played a role in the current crisis.
3 Min read
assassination plot

Poland Arrests Man Over Suspected Russian Plan To Kill Zelensky

Warsaw said the suspect stated that he was "ready to act on behalf of the military intelligence services of the Russian Federation."
2 Min read
unconfirmed deaths

Memorial to Russian Sailors Lists 19 Casualties in Moskva Sinking – Reports

Russia’s Defense Ministry has officially confirmed one death and 27 missing sailors in the April 13, 2022, sinking of the Moskva.
1 Min read
melting ice

Kamchatka's Glaciers Have Shrunk by 36% Since 1950 – Russian Scientists

The rate of retreat of the ice caps in the northern Sredinny Range from 2002 to 2017 was 4.3 times higher than from 1950 to 2002.
1 Min read