Petroneft back in dispute with Russian shareholder

Natlata Partners wants to oust senior management

21st February, 2016
Petroneft chief executive Dennis Francis Pic: Ferghal Ward

Irish oil explorer Petroneft has been dragged into another dispute with its major shareholder, who is looking to unseat its chief executive and most of its board.

Natlata Partners, a Russian investment fund that controls 22.3 per cent of Dublin-based Petroneft, wants to oust senior management and replace them with its own directors.

It’s the second time in two years that Natlata, headed by Russian oligarch Maksim Korobov, has attempted a boardroom coup.

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