RusPetro shares soar on growth plan

Shares in Siberia oil producer RusPetro jumped as high as 17 per cent Friday after announcing it would strengthen its finances and begin an upgraded processing unit next month.

Shares in Siberia oil producer RusPetro jumped as high as 17 per cent Friday after announcing it would strengthen its finances and begin an upgraded processing unit next month.

The company said it expects its first credit rating from Standard and Poor's and was selling secured notes to repay Sberbank loans and fund field development, with the state bank to provide a $50m credit line.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.