Articles by Greg Walters

Spain Wants to Keep Repsol Spanish

  • 27 November 08
  • Bloomberg
Spain's government will not allow Repsol, the country's largest oil company, to fall into foreign hands, Prime Minister Jose Luis Rodriguez Zapatero told parliament on Wednesday, as LUKoil is looking to purchase a 30 percent stake in the corporation.

Gazprom Facing Cash-Flow Crunch

  • 23 October 08
  • Bloomberg
Gazprom said Wednesday that the company might have trouble obtaining new loans and refinancing debts, even after posting record earnings.

Oligarchs Lose $230Bln in Collapse

  • 13 October 08
  • Bloomberg
The country's 25 richest people have lost 62 percent of their wealth since May.

Transneft's Donations Outweigh Dividends

  • 24 March 08
  • Bloomberg
Transneft, the state-controlled crude oil pipeline monopoly, gave 14 times more money to charity in the third quarter of last year than it paid in dividends to its private shareholders for all of 2006.

Scottish Oil Firm Seeks to Exit Siberian Field

  • 29 February 08
  • Bloomberg
Dana Petroleum, the Scottish explorer with assets in the North Sea, Africa and Russia, wrote down reserves in Siberia after losing a court battle against local partner LUKoil, the country's second-biggest oil producer.

Consortium Ups Loan for Rosneft to $3Bln

  • 26 February 08
  • Bloomberg
Deutsche Bank and Calyon led banks providing $3 billion of loans for Rosneft, lured by near-record fuel prices and an expanding economy.

Watchdog Threatens Sibir Unit's Rights

  • 12 February 08
  • Bloomberg
The Natural Resources Ministry's environmental watchdog on Monday recommended revoking production rights for a unit of Sibir Energy, the London-listed oil company controlled by billionaire Shalva Chigirinsky, for ""serious violations.""

Rosneft CEO Calls for Lower Oil Tax

  • 08 August 07
  • Bloomberg
Rosneft, the country's biggest oil company, will lobby the government for tax breaks in new oil regions because the tax regime is ""too harsh,"" the company's CEO said in an interview Tuesday.

Rosneft Sets Out Plans, Faces Angry Questions

  • 02 July 07
  • Bloomberg
Rosneft on Saturday set out plans to reduce its debt by 40 percent and expand refining capacity ninefold at its first annual shareholder meeting since its initial public offering last July.

Gazprom Says it Will Buy Small U.K. Firm

  • 28 June 07
  • Bloomberg
Gazprom on Wednesday revealed the acquisition that one of its top executives had hinted would be announced during the Wimbledon tennis tournament: the British-based gas shipper, Natural Gas Shipping Services.

Russia Rapped for State Bungling

Russia's ""woefully inadequate"" government institutions are holding back economic growth and urgent reforms are needed if Russia hopes to keep pace with other emerging markets, the World Economic Forum said in a report released Wednesday.

U.S. Envoy Nudges Russia on Reforms

The new U.S. ambassador makes his first public appearance in Moscow.

From Soviet Trade Bank to Universal Lender

Vneshtorgbank sees acquisitions, retail services and an IPO as the way to take on foreign rivals.

Broker Woos Clients Into Cafes

In a bid to boost interest in small-capitalization Russian stocks, one Moscow-based brokerage is getting into the Internet cafe business.

UNDP Urges Social Spending

Russia needs to put more money toward improving state services and provide greater opportunity to the country's poorest citizens, the authors of the United Nations Development Program's annual human development index said Thursday.

Volcker: Russian Firms Paid Iraqis $52M

Private and state-owned Russian companies made over $52 million in illicit payments to former Iraqi dictator Saddam Hussein's government through the Iraqi Embassy in Moscow ahead of the U.S. invasion of Iraq, a United Nations investigation concluded in a report released Wednesday.

Rosneft Sets Bold 10-Year Plan

Rosneft president Sergei Bogdanchikov said on Tuesday that his company was planning to boost production by 70 percent to 128 million tons per year by 2015, in a sign the state-owned oil firm may be considering acquiring new assets.

Smolensky Falls for Posh Bike

Nikolai Smolensky, the son of one of Russia's original oligarchs, is close to buying his second Western luxury automotive company in just over a year: the Italian motorcycle manufacturer Benelli.

Court Marshals Storm Dacha Compound

Dozens of court marshals dressed in camouflage and masks stormed a walled dacha community in the Moscow region on Thursday morning, demanding the owners agree to demolish dachas they said were built too close to a reservoir in an environmentally protected area.

Summer Keeps Business Spirits Up

Business confidence dipped slightly but remained high in July as a booming stock market and the summer's relative political calm gave investors reason to cheer.

ABC TV Barred From Russia

  • 03 August 05
  • Staff Writers
The Foreign Ministry says it will not renew ABC reporters' accreditations after the Basayev interview.

A New Oil Major From Nowhere

Russia's fastest-growing oil company is no longer knocking on the door of the oil major club. It's climbing in through the window.

Kiev Rewriting Rules on Energy

The new Ukrainian government under Viktor Yushchenko is pushing hard to redefine its energy relationship with Russia.

Germans See Key to Probe in St. Pete

German prosecutors confirmed on Tuesday that they are investigating the privatization of Telekominvest, a St. Petersburg holding company that IT and Communications Minister Leonid Reiman helped set up more than a decade ago.

Russia at Heart of German Probe

  • 26 July 05
  • Staff Writers
Investigators stage raids as they track down assets they say were funneled out of state-owned Russian companies.

Ecologists Fret Over Presidential Critique

  • 22 July 05
  • Staff Writers
Environmental groups on Thursday voiced concern that their activities might be curtailed after President Vladimir Putin issued a sharp criticism of their activities.

UES Makes Debut on Fortune 500

Russia's three largest energy firms made it into Fortune magazine's annual list of the world's 500 biggest companies this year, with utility monopoly Unified Energy Systems making the cut for the first time and beleaguered oil major Yukos dropping out entirely.

Nevzlin Urges U.S. to Pressure Russia

Yukos shareholder Leonid Nevzlin told a group of U.S. congressmen in Washington on Wednesday that only firm international pressure could keep Russia from sliding further away from democracy.

Ukraine Backpedals in Gas Dispute

Ukraine's natural gas monopoly on Friday backed down from threats to divert Russian gas exports to Europe for its own needs after securing an alternate supplier.

Confidence Rebounds in June

Business confidence rebounded in June after the prolonged trial of Mikhail Khodorkovsky came to a close in May and the summer months set in, turning businessmen's thoughts away from politics and toward summer vacations.