FAS Russia: from June 2011 “Gazpron Neftekhim Salavat” OJSC will regularly trade with oil products through exchange

Июня 09, 2011

On 5th May 2011, the Presidium of the Government of the Russian Federation discussed the issue of deficit and growth of prices for oil products and participation of “Gazpron Neftekhim Salavat” OJSC in exchange trading with oil products. The company stopped taking part in exchange trading in 2011.

On 16th May 2011, the Federal Antimonopoly Service (FAS Russia) has started inspecting whether “Gazpron Neftekhim Salavat” OJSC complies with the antimonopoly law. Before the inspection was completed, on 3rd June 2011 “Gazpron Neftekhim Salavat” OJSC reported to FAS Russia that the company had signed a contract as a participant of exchange trading and a controller of supplies of exchanged goods through the “Oil Products” section of “St Petersburg International Mercantile Exchange” CJSC (“SPIMEX” CJSC). An independent clearing organization - “Raschetno - Depozitarnaya Kompania” CJSC will control execution of obligations under completed exchange transactions.
Thus, from June 2011 “Gazpron Neftekhim Salavat” OJSC will regularly trade oil products through at “SPIMEX” CJSC.