Interfax reported that Mr Kirill Kravchenko deputy CEO of Gazprom Neft has been named the new general director of Serbia's Nafta Industrija Srbije.
The Russian oil company said that Mr Kravchenko will replace Mr Milos Saramandic.
Gazprom Neft, which in early February closed a deal to buy 51% of NIS for EUR 400 million also won a majority of seats on the Serbian oil company's new board of directors, which was elected at an extraordinary general meeting on last Tuesday.
Six Gazprom Neft representatives were elected to the NIS board, including Mr Dmitry Malyshev adviser to the CEO; Mr Kirill Kravchenko; Mr Anatoly Yakovlev deputy GD for economics and finance; Mr Anatoly Cherner deputy GD for logistics, refining and sales; Mr Boris Zilbermints deputy GD for exploration and production; and Ms Yelena Ilyukhina deputy GD for legal and corporate issues.
The four Serbian representatives on the board are Mr Biserka Drinjakovic adviser to the president of Serbia; Mr Dusan Elezovic chairman of the Democratic Party municipal committee for Vojvodina; Mr Dusan Petrovic deputy chairman of the Democratic Party of Serbia; and Mr Nikola Martinovic special adviser to the GD of NIS.
Mr Petar Skundric energy minister of Serbia was elected chairman of the general shareholder meeting and Mr Alexander Dyukov deputy CEO of Gazprom Neft was elected deputy chairman.
NIS shareholders also voted to amend the company's founding agreement. Gazprom Neft acquired the controlling stake in NIS under an agreement with the Serbia government that also stipulates that at least EUR 500 million must be invested in overhauls and modernization by 2012.
NIS, one of the largest vertically integrated oil companies in Central Europe, refines crude oil, sells oil products and produces hydrocarbons in Serbia and Angola. The company produces about 1 million tonnes of crude per year. NIS has oil refineries in the cities of Pancevo and Novi Sad with combined capacity of 7.3 million tonnes per year. The company also has a liquefied gas plant in Elemir.
NIS, with its chain of 512 filling stations and oil depots is the leading supplier of oil products to the Serbian market with a market share of about 85%. NIS exports motor fuel, benzene, toluol and road and industrial bitumen to the European Union, Ukraine, Croatia, Montenegro and Bosnia and Herzegovina.
(Sourced from Interfax)
