Baying for fresh blood, Korobov seeks control of Petroneft

The Russian businessman and army veteran wants the fuel exploration and production company to have a younger board

24th April, 2016
Maksim Korobov (inset) is waging a power play at board level of Petroneft: the graph shows the company’s share price performance over the last five years Pic: Rollingnews

When Russian businessman Maksim Korobov arrived in Dublin last Sunday, he fully expected a battle.

He was in town to attend the extraordinary general meeting of Petroneft the following morning, which – as the company’s biggest shareholder – he had instigated. It was the second time that he had forced such a vote on the future running of a company which he believed was not living up to its potential.

Dublin-listed Petroneft had...

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