Kherson Refinery Another Step Closer To Closed Joint Stock Company

At their EGM yesterday, Kherson Naftopererobtka Complex’s shareholders approved 39% ownership in a new closed joint stock company (CJSC) that will include Kherson Refinery (HNPK). The new CJSC will remain under the control of the Alliance Ukraine oil company.  In October, the Anti-monopoly Committee gave Alliance the green light to create the CJSC. This move is part of the Kherson Refinery’s plans to raise capital for modernization. The refinery has been idle since August 2005, in preparation for reconstruction that is scheduled to end in 2010.