No effect on Europe if Belarus taps Russian gas
Consumers in Europe and Russia`s Baltic region of Kaliningrad will not be affected if Belarus starts tapping Russian gas from transit pipelines, a Gazprom spokesman said in a radio interview Friday.
Bank of Russia foreign currency exchange rates for August 3
The following rates of exchange of foreign currencies to the ruble of the Russian Federation have been fixed for the purposes of accounting and customs duty payments from August 3, 2007:
Russia`s Alrosa sells $36 mln in diamonds
Alrosa sold diamonds worth $36 million at a global auction in Moscow, the press service of Russia`s largest diamond producer said Wednesday.
Gazprom`s bank in Belarus offers Minsk $500mln for gas debt
Belgazprombank, a Belarus-based bank controlled by Russian energy giant Gazprom, said it was ready to lend Minsk $500 million to cover its six-month debt for Russian natural gas supplies, the bank chairman said.
Russian-Chinese Vostok Energy buys 2 oil-gas sites in E. Siberia
The Russian-Chinese oil company Vostok Energy bought two oil and gas wells in East Siberia at an auction for $45 million, around six times more than the guide price of $7 million.
Russia`s Locko-Bank places $118 mln in Eurobonds
Russia`s Locko-Bank has completed placement of a Eurobond issue in a volume of 3 billion rubles (about $118 million), the bank`s press office said Tuesday.
Mikhail Gutseriev resigns as RussNeft president
The Board of Directors of OAO Oil and Gas Company RussNeft has approved its President Mikhail Gutseriev’s declaration about deliberate laying down of the power of the president of Oil and Gas Company RussNeft.
Finance minister: Russia GDP to double against 2002 by 2012-14
Russia`s GDP will possibly double against 2002 by years 2012-2014 if it keeps its annual growth rate at 7.2%, the Russian finance minister said Saturday.
Gazprom buys controlling stakes in OGK-2, OGK-6
Russian energy giant Gazprom has acquired controlling stakes in wholesale generating companies OGK-2 and OGK-6, as well as minor stakes in three territorial generating firms, the head of Unified Energy System said Friday.
Russia gives $1.5 bln loan for Belarus to pay energy debt
Russia`s finance minister said the government had given informal approval for a $1.5 billion loan for Belarus to buy Russian natural gas following price hikes.
Thailand calls for global cooperation to cope with financial volatility
Thailand, the epicentre of the 1997 economic crisis, on Saturday called for global cooperation to cope with financial volatility following a regional stock sell-off sparked by Wall Street losses.
Urals crude price to average $63-65 in 2007
Russia`s finance minister said Friday the price of Urals crude will average at $63-65 per barrel in 2007, with the federal annual budget being based on a price of $61.
French oil major Total SA gives "second breath" to Shtokman
The board chairman of Russia`s natural gas monopoly said Friday the involvement of French oil major Total SA had provided a boost to the giant Shtokman natural gas project in the Arctic.
TNK-BP poised to sell minor production unit
TNK-BP plans to sell Buguruslanneft, one of its production units between the Volga and the Urals, the Russian-British joint oil venture said Friday.
European shares mostly fall in global equities rout
European stocks mainly fell on Friday as investors ran for cover following sharp losses across global equities that were linked to fresh economic woes in the United States, dealers said.
Oil prices rise above $75 a barrel
Oil prices advanced Friday, clawing back some losses from the previous session when crude fell by nearly $1 a barrel on worries a slowing U.S. economy would cut petroleum consumption.
Court: Yuganskneftegaz $512 million payment unlawful
The Moscow District Federal Arbitration Court confirmed Thursday that an international commercial arbitration court`s ruling that Yuganskneftegaz pay 13 billion rubles ($511.6 million) to Yukos Capital S.a.r.l. was unlawful.
Russia`s Norilsk Nickel extends offer for LionOre till August 13
Russian metals giant Norilsk Nickel [RTS: GMKN] said Tuesday it had re-extended its cash offer to acquire the common stock of Canada`s gold and nickel producer LionOre until August 13.
Dollar rises 1.11 kopeks, Euro slips 2.01 on MICEX
The average weighted dollar rate for contracts with "tomorrow" settlements was 25.3964 rubles during Tuesday morning`s unified trading session on the Moscow Interbank Currency Exchange (MICEX), up 1.11 kopeks from Monday.
Court upholds $145 mln tax claim against crude producer RussNeft
The Moscow Arbitration Court upheld Tuesday a decision by the Russian Federal Tax Service to charge 3.7 billion rubles (about $145 million) in back taxes from crude producer RussNeft.
Ruussian electricity monopoly UES`s 2006 IFRS net profit up 490%
Unified Energy System`s net profit calculated to International Financial Reporting Standards increased 490% year-on-year in 2006 to 149.5 billion rubles ($5.8 billion), the electricity monopoly said Friday.
GAZ posts $2.6 million losses in 1H07
Russian carmaker GAZ posted losses worth 66 million rubles ($2.6 million) calculated to Russian Accounting Standards in the first half of 2007, against 85.5 million rubles ($3.36 million) in profits for the same period last year.
Ministry proposes forming united Russian machine-building co.
Russia`s Industry and Energy Ministry proposed Friday that the Russian government consider setting up a united machine-building company on the basis of a public-private partnership, an idea received coolly by the economics ministry.
Russia`s foreign debt falls 8% in 6M07 to $47.8 bln
Russia`s state debt fell 8.1% in the first six months of this year, from $52 billion to $47.8 billion, the Finance Ministry said Friday.
Russia`s inflation 0.6% in first half of July
Russia`s inflation rate totaled 0.6% in the first 16 days of July, against 0.4% in the same period last year, the Central Bank`s chairman said Thursday.