Business in Brief
- By Unknown
- Jun. 11 2008 00:00
Gazprom-U.S. Gas Plans
Gazprom plans to start selling natural gas to the U.S. from Canada as it seeks to become a global supplier.
The company will use the planned Rabaska liquefied natural gas terminal in Quebec to establish its business in North America, Vitaly Vasiliev, head of British- based Gazprom Marketing & Trading, said Tuesday. (Bloomberg)
Rosneft $1Bln Refinancing
Rosneft is seeking to borrow at least $1 billion to refinance its debt, according to three bankers with knowledge of the transaction.
The company is raising a five-year loan from a group of five to seven lenders, said the bankers who didn't want to be identified because the transaction is private. (Bloomberg)
Rusal Tests New Technology
United Company RusAl on Tuesday began testing a smelting technology that it said may cut emissions of greenhouse gases by one-third.
The company invested $25 million to introduce an additive in the electrolytic cells of its Krasnoyarsk smelter, RusAl said today in an e-mailed statement.
The move, which will be extended to other RusAl smelters from 2010 to 2015, will cut carbon-dioxide emissions to 53.5 kilograms for each ton of aluminum produced, from 78.9 kilograms, RusAl said. Emissions of benzopyrene, a carcinogenic compound, will drop by half to 0.1 grams per ton to meet Russian legal requirements, RusAl said. (Bloomberg)
Lower Sitronics Loss
Sitronics, the electronics maker controlled by Vladimir Yevtushenkov, on Tuesday said its loss narrowed in the first quarter as sales increased.
The net loss shrank to $8.2 million from $28 million in the same period last year, the company said in a statement. Revenue rose 44 percent to $445.8 million. (Bloomberg)
MTS's BlackBerry Deal
Mobile TeleSystems on Tuesday said it received a permanent license to offer the BlackBerry e-mail device in Russia.
MTS has been offering the BlackBerry service on a trial basis to more than 25 corporate clients under a temporary license and now expects to considerably increase the number of customers for the device, the company said in a statement. (Bloomberg)
BSP Profit Doubles
Bank St. Petersburg on Tuesday said first-quarter profit more than doubled as it expanded its retail-banking network.
Net income rose to 639.6 million rubles ($27 million) from 235.3 million rubles a year earlier, the bank said in a statement. Its assets almost doubled to 138.5 billion rubles. (Bloomberg)
Oil Spill Laboratory
StatoilHydro on Tuesday opened a laboratory in Russia to study oil samples in a bid to better tackle fuel spills amid growing pressure to explore fields in the far northern regions.
The laboratory, based in Murmansk, will analyze samples taken from tankers loaded for export, the company said in a statement. (Bloomberg)
Kazakhmys Stake Swap
Kazakhstan on Tuesday agreed to acquire a $2.57 billion stake in Kazakhmys, the country's largest copper producer, in return for part of its interest in Eurasian Natural Resources.
The transaction may be a prelude to a combination of Kazakhmys and ENRC in a state-controlled mining group. (Bloomberg)