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Growing Pains: Urals Energy Expands In Russia, Denies Zenit Deal.
NEFTE Compass
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May 5, 2005
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COPYRIGHT 2005 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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Urals Energy, which has diversified from oil trading into the upstream, is further expanding in Russia. The company says a new upstream acquisition is under way, in addition to the three subsidiaries it owns in Russia. Urals denies, however, it has bought a stake in Tatneft-associated Zenit Bank.
Urals will soon purchase a company that owns exploration licenses in Russia, William Thomas, Urals chief executive, tells Nefte Compass.
Urals currently owns Chepetskoe NGDU, which produces 800 b/d in the Udmurtia region, as well as 1,000 b/d TsNPSEI in the Komi ...
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