Mozyr Oil Refinery share value to increase from Br1,000 to Br2m

MINSK, 25 September (BelTA) – Mozyr Oil refinery share value will be raised from Br1,000 to Br2 million, the company told BelTA. The issue was considered at a special meeting of the company’s shareholders on 25 September. The shareholders took a decision to increase the authorized fund of Mozyr Oil refinery two thousand times, from Br1,976,782 billion to Br3,953,564,000 trillion. The fund will be increased by the company’s own resources. “Thus, the authorized fund will be brought in balance with the company’s assets,” the company explained adding that it was a long-simmering issue. Besides, the shareholders decided in favor of amendments to the Mozyr Oil Refinery charter and approval of its new wording. The decisions taken at the shareholders’ meeting will be shortly registered with the Mozyr oblast executive committee and the securities department of the Finance Ministry. After that they will come into force, the Mozyr Oil Refinery. Mozyr Oil Refinery was founded in 1975 and re-incorporated into an open joint stock company in 1994. The government share in the company’s authorized fund stands at 42.76%, that of NGK Slavneft 42.58%, Mozyr Oil Refinery Plus 12.25%, natural persons 2.41%. The company specializes in processing oil, manufacturing and selling oil products. Certified products account for about 95% of the total output. In 2012 Mozyr Oil Refinery intends to process about 11 million tonnes of oil, up from 10.38 million tonnes in 2011.

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