Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Surgut Acquires Shares

MOSCOW -- Shareholders of Russian oil producer Surgutneftegaz used their right of first refusal to acquire about 400 million shares of a 610 million ordinary share issue, Surgut's parent said.

Surgut Kholding said the production unit would not issue any more shares this year. "The basic securities market policy of the group in 1998 will be strengthening the position of shares already issued," it said in a statement.

It said Surgut's priority was to launch a depositary receipt program for preference shares though it gave no dates.