30.04.2008
The head of Surgutneftegaz, Vladimir Bogdanov, seen as one of Russia's most secretive businessmen, denied control the firm, saying he had a stake of less than 2 percent.
"We have over 100,000 shareholders. The list of shareholders can be disclosed at the demand of a shareholder who controls over 2 percent of the firm," Bogdanov told Surgut's annual shareholders' meeting in west Siberia, his only big yearly appearance in public.
"I don't have a stake of over 2 percent, so if you manage to collect (such a stake), they (the registrar holders) should disclose (the names of the shareholders)," Bogdanov replied to a question from the floor about Surgut's owners.
Speculation has swirled around Surgut, Russia's No.4 oil producer, over the past decade, including rumours it would be taken over by a state-controlled firm or that it would buy smaller private firms.
Rumours have recently mounted that Bogdanov, who has run the firm since Soviet times, has transferred control to companies which might be close to Kremlin insiders. However, Bogdanov has said he believes no-one holds a large stake in the firm.
The company does not report results to international standards, does not disclose reserves and says little about its cash pile accumulated over the past decade, which is estimated at between $10 billion and $15 billion.
Source: Reuters
