Sibir Energy

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Sibir Energy was a British oil company listed on AIM that focused on exploration and production in Siberia, Russia, with some refining and retail activities. Founded in 1996, it grew into an integrated operation spanning exploration, extraction, refining, and retail. In February 2011 Gazprom Neft became the sole shareholder after the Moscow government’s stake through the Central Fuel Company withdrew. In February 2016 Gazprom Neft fully absorbed Sibir Energy and liquidated it as a separate company.

Its main assets included the Salym oil fields in the Nefteyugansk area via Salym Petroleum Development, a 51% stake in the Moscow Oil Refinery run with Gazprom Neft, and a substantial Moscow gasoline retail network. Through its Magma subsidiary, Sibir Energy held interests in the Yuzhnoye and Orekhovskoye fields in West Siberia, and it owned the Moscow Oil and Gas Company (formerly The Moscow Oil Company).

Before the takeover, Sibir’s shares were traded on AIM. Major shareholders were Gazprom Neft and the Moscow city government, with a small stake held by Sberbank pledged as loan collateral by Shalva Chigirinsky.

Leadership included Chairman Vadim Yakovlev and CEO Igor Tsibelman; non-executive directors were Dmitry Bekker, Maxim Viktorov, and Andrei Martianov.

In early 2009, Sibir suspended its CEO amid a probe into property deals related to Shalva Chigirinsky and sued him for at least $325 million. In July 2009, Russian police raided the Moscow office and seized documents.