KiNEx
Encyclopedia
KiNEx is a Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...

n joint stock company, subsidiary of Surgutneftegaz, specializing in wholesale crude and refined oil trading, especially of the refined oil production of Kinef
Kinef
Kinef is a Russian joint stock production association operating a large oil refinery based in Kirishi, Leningrad Oblast. It is a subsidiary of Surgutneftegaz. The Kirishi refinery is the only one in Northwestern Russia.Construction of the refinery had begun in 1961 in an area devastated by World...

, mostly abroad in Northern Europe.

It was founded in 1987 as a subdivision of the Kirishinefteorgsintez refinery, based in Kirishi
Kirishi
Kirishi is a town in Leningrad Oblast, Russia, situated on the right bank of the Volkhov River, southeast of St. Petersburg. Population: -History:...

, Leningrad Oblast
Leningrad Oblast
Leningrad Oblast is a federal subject of Russia . It was established on August 1, 1927, although it was not until 1946 that the oblast's borders had been mostly settled in their present position...

, to conduct external economic activity of the latter, but in 1991 became independent state-owned enterprise headed by Gennady Timchenko
Gennady Timchenko
Gennady Nikolayevich Timchenko Gennady Nikolayevich Timchenko Gennady Nikolayevich Timchenko (also spelled Guennadi Timtchenko; (born 1952) is a prominent businessman, active in the energy trading business, citizen of Finland, currently living in Geneva, Switzerland....

.

In 1990 Kirishineftekhimexport together with Volgotanker
Volgotanker
Volgotanker is a Russian company engaged in the business of transporting oil and oil products by tanker ship along the inland waterways and coastal seas of European Russia. It is headquartered in Samara.- History :- Soviet period :...

, Sadko Oil and several individuals founded joint venture Urals Ltd. Its Finnish
Finland
Finland , officially the Republic of Finland, is a Nordic country situated in the Fennoscandian region of Northern Europe. It is bordered by Sweden in the west, Norway in the north and Russia in the east, while Estonia lies to its south across the Gulf of Finland.Around 5.4 million people reside...

 subdivision Urals Finland Oy became the main foreign customer of Kirishineftekhimexport, as it required much less efforts and bureaucratic burden to export oil to a single company. Urals Finland Oy later separated from Urals JV Ltd. and in 1995 entered the KiNEx holding as IPP International Petroleum Products Oy. In 1990s Kirishineftekhimexport also became successful in exporting oil to Estonia
Estonia
Estonia , officially the Republic of Estonia , is a state in the Baltic region of Northern Europe. It is bordered to the north by the Gulf of Finland, to the west by the Baltic Sea, to the south by Latvia , and to the east by Lake Peipsi and the Russian Federation . Across the Baltic Sea lies...

, which in 1990 was still a part of the Soviet Union
Soviet Union
The Soviet Union , officially the Union of Soviet Socialist Republics , was a constitutionally socialist state that existed in Eurasia between 1922 and 1991....

.

In 1994 Kirishineftekhimexport was privatized by its top-managers Adolf Smirnov, Andrei Katkov
Andrei Katkov
Andrei Katkov was born in Irkutsk, emigrated with parents to China. Studied in the Catholic elementary school of Marian Fathers, converted to Catholicism and entered to the Marian Congregation. Katkov had had a Catholic formation and education according to the mission plan of Michel d'Herbigny. In...

, Yevgeni Malov and Gennady Timchenko and became a joint stock company registered in Saint Petersburg
Saint Petersburg
Saint Petersburg is a city and a federal subject of Russia located on the Neva River at the head of the Gulf of Finland on the Baltic Sea...

. It had been headed by Director General Adolf Smirnov until his death in 2004. Since then has been its Director General. The company had its own oil fields in the Khanty-Mansi Autonomous Okrug
Khanty-Mansi Autonomous Okrug
Khanty–Mansi Autonomous Okrug , also known as Yugra, is a federal subject of Russia . Population: The people native to the region are the Khanty and the Mansi, known collectively as Ob Ugric people...

, but later sold them out.

In 1996 the state sold its remaining 49% stake in the company. In the same year financial and investment projects of KiNEx were transferred to the KiNEx Invest JSC, owned by Smirnov, Katkov, Malov and Timchenko (by 25% each) and headed by Director General Yury Yerofeyev. In 1998 KiNEx Invest acquired control over a 20.7% share of the Russia Bank.

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