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. Last Updated: 07/27/2016

Slavneft Elects Chief

MOSCOW -- Russian-Belarus owned oil company Slavneft will elect a new president Oct. 3 against a background of a serious downturn in its financial position, the company's acting head said Thursday.

Vasily Duma, who was appointed acting chief in August, told journalists at the company's headquarters that he and former President Anatoly Fomin would be the only candidates.

"A president will be elected at the meeting by the board of directors," he said. "The board will meet a maximum of 15 days after the meeting" to appoint a new management to help pull the company back from crisis.