VTB Bank opened a USD 80 million facility to OOO Neftegazindustriya, maturing in 6 months. The funds were channeled to finance the company’s current operations, including the purchase of crude oil. The facility was granted under the total limit of RUB 12 billion set by the Bank for NefteGazIndustriya Group of Companies.
Citing Nikolay Ustinov, VTB Senior Vice-President, “VTB is willing to develop long-term partnership relations and provide funding for projected investment projects of NefteGazIndustriya Group. I am sure that the Bank’s financial support will facilitate the company’s business development and its successful transformation into a vertically integrated holding”.