NOVOSIBIRSK OIL REFINERY INITIATES BANKRUPTCY PROCEDURE

NOVOSIBIRSK OIL REFINERY INITIATES BANKRUPTCY PROCEDURE

NOVOSIBIRSK OIL REFINERY INITIATES BANKRUPTCY PROCEDURE
The head of VPK-Oil, Evgeny Belenetsky, announced his intention to apply to arbitration with a statement declaring the company insolvent. It is this organization that is the management structure for the Kochenevsky Oil Refinery, which remains the only enterprise of its kind in the region. The relevant data was published on the "Fedresource".

The financial situation of the company, whose authorized capital amounts to an impressive 273.5 million rubles, has deteriorated significantly recently. According to open data, the owner of the business is the Evolution holding company (JSC). 

Despite the fact that by the end of the year before last, the company's revenue exceeded 33 billion, its production activities brought it a net loss of 1.6 billion. On top of this, there are currently 13 lawsuits in the courts, where the organization acts as a defendant, and the total amount of claims reaches 338 million rubles. 

It is noteworthy that last month, creditors at Fedresurs, who wanted to get ahead of events, published similar statements. At that time, Guru and Credit Bank of Moscow announced their plans to initiate bankruptcy of the debtor. The collateral of the credit institution is a share of participation in the company (all 100%). Now, the head of the company himself decided to take a reciprocal step, taking the initiative into his own hands. 

The history of the plant itself began almost two decades ago, Its construction started 21 years ago. In 2007, the company was put into operation. A significant modernization of production took place 5 years ago, when the diesel fuel hydrotreating complex started operating here. Thanks to this innovation, the plant was able to produce products that meet the high environmental class of Euro-5. In 2017, a bitumen production plant was also launched at the site, which expanded the range of products. 

Currently, the key processing enterprise for the region is on the verge of serious legal consequences. Given the current debts and lawsuits, the director's upcoming appeal to the court may be the starting point for the official recognition of the plant as bankrupt.

 

Photo: Freepik

03.03.2026