Business in Brief
- Jun. 03 2008 00:00
TNK-BP on Owners’ Spat
TNK-BP said Monday that a dispute between BP and the company’s Russian billionaire shareholders has had no impact on current operations.
The British-Russian venture is meeting its obligations “to all parties concerned” and is continuing work on new projects in western and eastern Siberia, TNK-BP said.
Dixy Posts Q1 Profit
Dixy Group, the country’s third-largest publicly traded supermarket chain, on Monday reported a first-quarter profit after debt-servicing costs fell and set a goal of expanding its store network by one-quarter this year.
Net income was $6.8 million, compared with a year-earlier net loss of $770,000, the company said. Sales advanced 49 percent to $459 million after new stores opened and shoppers spent more money on food.
Sibur Purchase Approved
Sibur’s managers on Monday received permission from the Federal Anti-Monopoly Service to buy control of the company, Europe’s largest petrochemicals producer.
The managers, represented by Cyprus-based Hidron Holdings, signed an accord with majority shareholder Gazprombank on Thursday to buy 50 percent plus one share, they said in a statement. The anti-monopoly service gave them permission to buy as much as 100 percent of the company, the statement said.
Putin Talks With Saudi King
Prime Minister Vladimir Putin held telephone talks with the Saudi king on Russia’s entry into the WTO.
Putin on Monday also discussed the implementation of joint projects with the Saudi king, a statement from his office said. Finance Minister Alexei Kudrin was to hold talks on Russia’s World Trade Organization accession in Saudi Arabia on Tuesday.
Gazprom’s Azeri Offer
Gazprom on Monday offered to buy gas from Azerbaijan at “market prices.”
Chief executive Alexei Miller made an offer of long-term supply contracts to Azeri President Ilham Aliyev at a meeting in Azerbaijan, Gazprom said in a statement.
In Dollars, Oil Funds Drop
The country’s oil funds were worth less in dollars on June 1 than a month earlier because of gains by the ruble.
The Reserve Fund and the National Welfare Fund were worth a combined $161.9 billion Sunday, compared with $162.5 billion May 1, the Finance Ministry said Monday. In rubles, the value remained at 3.84 trillion.
For the Record
The Chevron Corp.-led Caspian Pipeline Consortium shipped 9.5 percent less crude oil in May through its Black Sea terminal in Novorossiisk than in April.
Ukraine’s shipments of Russian natural gas to Europe rose 26 percent to a record in the first five months of the year.
Gazprom may sell 2.5 billion cubic meters of the fuel directly to Italian retail customers in 2010, Vedomosti reported Monday, citing unidentified employees at the company.
LUKoil and Gazprom Neft may build refineries in northern Kazakhstan after the two countries’ leaders agreed to build a pipeline, Almaty-based newspaper Vremya said.