Business in Brief
- By Unknown
- Sep. 16 2008 00:00
Gunvor Gets Rosneft Tender
Oil trader Gunvor won the bulk of Rosneft's giant Urals tender, with Total and Vitol picking up the rest, Rosneft said Monday.
Gunvor won the rights to lift up to 3 million tons from Primorsk in October to March. Total was awarded up to 2 million tons, and Vitol was given up to 1 million tons. In the south, Gunvor will lift up to 2 million tons from Novorossiisk's Berth 1, which usually handles 140,000-ton tankers. Vitol will lift up to 2 million tons from Berth 2, which handles smaller cargoes, with Ukraine's Yuzhny as another option. (Reuters)
Enel, Inter RAO Hold Talks
ROME -- Enel and Inter RAO may cooperate on joint energy projects in third countries.
Fulvio Conti, chief executive of the Italian utility, discussed the matter and Enel's investment in Russia at a meeting with Deputy Prime Minister Igor Sechin and Energy Minister Sergei Shmatko on Friday. (Bloomberg)
Grain Traders Boost Exports
Falling world grain prices have forced Russian traders to compete intensively on export markets, and recent grain tenders results indicate that the country's domestic prices may decline in the coming weeks, analysts said Monday.
Tunisia's state grain agency on Friday bought 92,000 tons of soft wheat at $284.00 to $287.97 per ton. Traders said the wheat could be of Black Sea origin.
"Judging by the most recent Tunisia tender, by November, Russian export prices may decline to $230 to $240 [per ton]," the Institute for Agricultural Market Studies said. (Reuters)
Uralkali in 2 U.S. Lawsuits
Potash producer Uralkali said Monday that it "intends to defend itself vigorously" after it was among companies sued in the United States for conspiring to fix prices.
Uralkali was named in a lawsuit filed by Minn-Chem last week in the U.S. District Court of Minnesota and also in another lawsuit filed last week by Gage's Fertilizer & Grain in the U.S. District Court of Illinois. (Bloomberg)
Paramount Partners Potanin
Viacom's Paramount Pictures International agreed to work with billionaire Vladimir Potanin's Central Partnership on producing and distributing films in Russia, Kommersant reported Monday.
Central Partnership will also become Paramount's exclusive distributor in Russia and most other former Soviet states from next year, said Ruben Dishdishian, the head of the movie and television production unit of Potanin's Prof-Media holding, the newspaper reported. (Bloomberg)
For the Record
Prime Minister Vladimir Putin last week appointed Deputy Prime Minister Igor Sechin to replace Deputy Prime Minister Alexander Zhukov as head of the Russian-Venezuelan commission, Interfax reported Monday. (MT)
Gazprom Neft is interested in developing projects in Iraq, deputy chief executive Boris Zilbermints said Monday, Interfax reported. (Bloomberg)
The Agriculture Ministry said Monday that farmers reaped 95.3 million tons of grain so far this season, 29 percent more than a year earlier. (Bloomberg)
Ukraine's Central Bank said Monday that it would be able to keep the hryvna's exchange rate within planned limits for this year and widen the trading corridor to 10 percent from 2009. (Bloomberg)