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City news, 31.03.2006 14:38

Sibneft to shift HQ to St. Petersburg - board head

sibneft Leading oil company Sibneft intends to relocate to St. Petersburg, the head of its board of directors said Friday.

"Sibneft board of directors decided at a meeting to register Sibneft in St. Petersburg and make it the main tax-payer in the city," said Alexei Miller, also CEO of natural gas monopoly Gazprom, which owns 72.6% of Sibneft.

Miller said re-registration would take place in May of this year, and relocation would be complete by early 2007.

He said the company's offices would be based in the center of the city.

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