News

December 16, 2008

Sibir Energy Mulls Moscow Gas Stations Sale As It Grows Russian Property Empire

Things are happening fast at London-listed Russian oil and gas producer Sibir Energy.

Yesterday, the integrated energy company confirmed in a short note to the stock exchange that it is in talks with TNK-BP regarding the possible sale of its stake in the STBP gas stations network in Moscow.

The sale would generate some additional cash for the company at a time when it is on the acquisition trail, purchasing non-energy assets to shore up the finances of Russian tycoon and chief shareholder, Chalva Tchigirinski, who has been left reeling from the global financial...