Ruspetro

This is a Russian oil drilling company producing gas and oil founded in 2007 in Cyprus by Vladimir Marchenk as Petrotech Holdings. In June 2011, it became RusPetro Holdings. It has its head office in Moscow, Russia, and operates its offices in Khantg-Mansiysk London and Talinka.

Since inception, it has concentrated operation in Siberia in the Krasnoleninsk field where there is an abundant mineral deposits. In June 2016, its shares stopped trading on the London Stock Exchange. The 2015 results indicated that the company was not making adequate earnings from its existing operations to cover expenditure incurred in the investment of capital, repayments on loans outstanding and unpaid loans interest. Therefore to avoid incurring operation loss, the directors proposed withdrawal of trading of the company’s shares. This would also ensure that the group engages in other avenues of fundraising to cover its capital repayments, investments, and interest and still have returns to its shareholders. To date, the firm continues to perform its operations in Siberia, envisioning an upward growth curve in the oil industry.

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