Alliance Oil Company has acquired 7 filling stations located in the Republic of
Buryatia in Eastern Siberia. The stations will be rebranded and operated under
the Alliance Oil brand.
The acquired retail stations currently market approximately 23 thousand tonnes
(corresponding to 185 thousand barrels) of gasoline and diesel per annum. The
retail sites are primarily located in the city of Ulan-Ude and along the
Irkutsk-Chita highway. The Republic of Buryatia is located in Eastern Siberia,
east of Lake Baikal and has a population of approximately 960,000 people. The
population in the city of Ulan-Ude is approximately 540.000. The retail market
of the region has a total annual capacity of approximately 225 thousand tonnes
of light oil products.
“We follow our long-term strategy of optimizing and expanding the company's
retail network. Buryatia is a promising market with high potential for organic
growth and further consolidation. This acquisition allows Alliance Oil to
penetrate the East Siberian fuel market increasing flexibility and retail cover
in support of our integrated business model”, Alliance Oil's Managing Director
Arsen Idrisov said.
Following the acquisition, Alliance Oil Company operates a network of 268 petrol
stations and 16 oil product terminals in the Russian Far East and Siberia (Amur,
Khabarovsk, Primorsk, Jewish Autonomous Regions, and the Republic of Buryatia).
During the first six months of 2010, the company sold 1.7 million barrels of oil
products to its retail customers.
For further information please contact:
Arsen Idrisov, Managing Director, Alliance Oil Company, Tel.: +7 495 777 18 08
Eric Forss, Chairman, Alliance Oil Company, Tel.: +46 8 613 00 85
Also visit www.allianceoilco.com
Alliance Oil Company Ltd is a leading independent oil company with vertically
integrated operations in Russia and Kazakhstan. Alliance Oil has proved and
probable oil reserves of 526 million barrels, refining capacity of 70,000
barrels per day and a network of gas stations and wholesale oil products
terminals. Alliance Oil's depository receipts are traded on the Nasdaq OMX
Nordic under the symbol AOIL.
