Gazprom Neft and MNGK are to run the Moscow Refinery on a parity basis

OAO Gazprom Neft and OAO Moscow Oil and Gas Company (MNGK) have inked a memorandum of cooperation in order to resolve a dispute over management of the refining facility. The document sets out the principles for running the Moscow Refinery. The company will be run on a parity basis. Gazprom Neft and MNGK will jointly adopt management decisions on key issues of the company's development and appointments. The two companies could also merge other enterprises on a mutually profitable basis.