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2009 December 22   08:48

Authority say shareholders to decide on PNT deal

Commenting on sale deal of Petersburg Oil Terminal shareholders negotiating with buyers, the company General Director said he would not oppose. "Actually, I do not see today any of objective reasons for the sale of the terminal," Igor is quoted as saying in his recent interview with journalists. The future  of the terminal, Mr. Teleshev said, will be decided only by its shareholders, he just can give his personal comments on the deal.
"Our shareholders might have gotten a good offer for sale, Mr. Teleshev says, since they agreed to consider it. But for the recent year and a half the negotiations have been fruitless ".
The board of shareholders of the terminal has not changed, the Terminal official says, and no reasons for the resumption of negotiations by owners of PNT
"Someone would be willing to acquire the terminal. Someone interested in the logistics of exporting oil through St. Petersburg, Mr. Teleshev is quoted as saying. Someone might be interested in an asset that, even in the crisis year, shows positive growth and bring stable revenue to owners ", he added.
According to the IAA "PortNews" it was the Antipinsky Refineries, which had offered sale negotiation of PNT. The Terminal authorities did not comment or discuss the failed transaction cost. It is reportedly several hundred million dollars.
JSC "Petersburg Oil Terminal" provides services for handling and storage of light and dark oil products intended for export and bunkering vessels. The company produces high-quality analysis of petroleum products, accepts and processes oily water from ships coming to  the port. Annual turnover is around 12 million tons of fuel oil and diesel fuel.

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