President of Oil Industry Company Fatally Shot in Moscow

MOSCOW, Nov 14, 2006 (AP)

The head of a Russian company involved in the oil and gas industry was fatally shot in Moscow on Tuesday in what appeared to be a contract killing, prosecutors said.

Zalimkhan Magomedov, president of a company called the National Oil Institute Foundation, was shot in southwestern Moscow, said city prosecutor's office spokeswoman Svetlana Petrenko. She said authorities suspect it was a contract killing.

The little-known Moscow-based company works with companies and government structures, including in developing small and medium-sized companies in the oil and gas industry, according to information on its Web site.

Russia's oil industry is a major source of wealth, and the country is plagued by contract killings of businessmen.

Copyright (c) 2006 Dow Jones & Company, Inc.

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