West Siberian Resources
West Siberian Resources is an independent oil company with vertically integrated operations in Russia and Kazakhstan. The company is a leader on the oil products market in Russia’s Far East. Its DRs trade on the OMX Nordic Exchange Stockholm under the symbol WSIB.
After the merger with Alliance Oil in 2008, West Siberian Resources’ oil reserves amounted to 489 mln bbl (proven and probable, according to PRMS estimates as of December 31, 2007 by DeGolyer & MacNaughton and Miller & Lents). In 2008, the company produced crude in three regions: Tomsk, Timan-Pechora and Volga-Urals. Its Khabarovsk Refinery is situated in Russia’s Far East, and its supplies cover up to 30% of the demand in Khabarovsk, Amur, and Primorsk regions. The Khabarovsk products are also exported to China and other Asia-Pacific.
In 9m08, West Siberian Resources’ produced 47,000 bpd and refined 70,900 bpd of crude, and a total of about 19.4 mln bbl of oil products were sold through the company’s network of 256 gas stations and 24 wholesale oil terminals.
West Siberian Resources’ total revenues increased 101% in 9m08, reaching $2,312 mln, while EBITDA amounted to $579 mln.