States East Oil Company Stake To Be Sold For $225 Million

The state package of East petroleum company is planned to be sold for 225 million dollars. The chairman of Accounting chamber of the Russian Federation, Sergey Stepashin, has said that the board of Accounting chamber has considered results of activity of the company and discovered, that the efficiency of thirty six percentage package "is equal to zero, and it does not bring a profit." In this connection the decision to sell the unit was made. The sale is planned to take place on May 24th.