Articles by Tom Miles



Chinalco Eyes RusAl Assets, But Not Shares

  • 14 October 09
  • Reuters
The mining and metals conglomerate has targeted RusAl's stake in an alumina refinery in Australia but is less interested in buying into the indebted Russian company's Hong Kong share issue, two sources familiar with the situation said Tuesday.

China Courts Turkmens As Russian Gas Sputters

  • 23 August 07
  • Reuters
China is hedging against a slow-going Russian gas deal by aggressively pushing for imports from Turkmenistan, which could force Moscow to accept Beijing's price demands or watch its Asian strategy unravel.

Lavrov Questions U.S. Policy

  • 29 January 07
  • Reuters
Russia expects the United States to explain its growing military presence in the Middle East when the countries next meet to discuss the region, Foreign Minister Sergei Lavrov told reporters Saturday.

Shell May Take Cash for Sakhalin-2 Stake

  • 20 December 06
  • Reuters
Speculation on a deal with Gazprom continues to mount ahead of the Shell CEO's visit this week.

TNK-BP May Pay Interim Dividend

  • 02 October 06
  • Reuters
Amid speculation that the venture's Russian partners may cash out, its board is considering the dividend.

Shell, TNK-BP Feel the Kremlin's Heat

  • 26 September 06
  • Reuters
Russia turned up the heat on huge foreign-led energy projects on Monday, ordering a full environmental probe of Royal Dutch Shell's Sakhalin venture and warning TNK-BP over violations at its Kovykta gas field.

SUAL to Invest $1Bln in South Africa

  • 07 September 06
  • Reuters
President Vladimir Putin presided over more than $1 billion of new deals in Cape Town on Wednesday and predicted a wave of others in a powerful economic foray into South Africa.

Putin to Take 100 Business Leaders to South Africa

  • 01 September 06
  • Reuters
President Vladimir Putin makes his first visit to South Africa next week with around 100 Russian business leaders hoping to build bridges between two of the world's biggest emerging-market economies.

Surgut Raises Dividend for 2nd Year Running

  • 06 April 06
  • Reuters
Surgutneftegaz said Wednesday that it planned to hike its dividend for a second year running, although the payout would do little to return its $10 billion cash mountain to investors.

Shell Eyes 3rd Project Despite Overruns

  • 14 March 06
  • Reuters
Royal Dutch Shell wants to expand its Russian operations and add a third large project despite a huge cost overrun at its Sakhalin Energy venture, said the firm's Russia chairman, Chris Finlayson.

Sibneft Output, Profit to Drop

  • 10 February 06
  • Reuters
Oil firm Sibneft said its profits, dividends and production would fall this year, while owner Gazprom has hired Western consultants to decide what to do with its $13 billion acquisition.

Cold Renews Worries About Supply

  • 23 January 06
  • Reuters
Ukraine said on Friday that winter cold had forced it to tap more Russian gas from pipelines heading west across its territory, threatening further shortages for European customers of gas giant Gazprom.

LUKoil Seeking More Market Share

  • 16 January 06
  • Reuters
The country's largest oil firm, LUKoil, beat forecasts with record third-quarter profits on Friday and said it was looking for new acquisitions, expanding production and adding high-quality refining to sustain its growth.

Rosneft Accused of Asset Grab

  • 21 December 05
  • Reuters
A minority shareholder in a Rosneft refinery said the parent company had transferred assets to itself at a discount, bolstering the state oil giant before its lucrative public share offering.

TNK-BP Valued $40Bln in Stock Market Debut

  • 08 December 05
  • Reuters
The country's No. 2 oil company, TNK-BP, made a long-awaited stockmarket debut on Wednesday, valuing the firm at $40 billion.

Rosneft's H1 Profits Up 7 Times

  • 25 November 05
  • Reuters
Oil firm Rosneft on Thursday announced a sevenfold rise in first-half profits as the state-owned company, bulked up by the assets of fallen oil major Yukos, prepares for an initial public offering.

Sibir Defiant in Struggle for Refinery

  • 11 November 05
  • Reuters
London-listed Russian oil firm Sibir Energy said Thursday that the battle for control of Moscow refinery is not over, two days after its rivals Sibneft and Tatneft claimed a Russian court had handed them control.

Court Ruling Blesses CNPC's Kazakh Bid

  • 27 October 05
  • Reuters
A Canadian court has approved Chinese oil company CNPC's $4.18 billion takeover of PetroKazakhstan, the Calgary-based firm said, dealing a blow to rival suitor LUKoil. PetroKazakhstan said on Wednesday it intended to close the deal with CNPC later in the day.

Foreign Banks Jostle to Lend to Russians

  • 18 October 05
  • Reuters
Foreign lenders are lining up to finance a boom in syndicated borrowing by Russian firms, with no shortage of takers for several large deals in the energy sector in particular, bankers said on Monday.

Creditors Circle Yukos Carcass

  • 12 October 05
  • Reuters
State oil firm Rosneft has joined the scramble for the foreign assets of stricken oil firm Yukos, chief among them Lithuania's Mazeikiu Nafta refinery and a share of Slovakia's pipelines.

Total Takes Aim at 25% of Vast Arctic Gas Field

  • 07 October 05
  • Reuters
French oil major Total has offered gas monopoly Gazprom stakes in three projects in return for 25 percent of the huge Shtokman gas project, a company official said in an interview.

Shareholders Approve Record Sibneft Payout

  • 13 September 05
  • Reuters
The shareholders of oil firm Sibneft approved a $2.3 billion dividend on Monday, local media reported, paving the way for an expected sale of the company by core owners led by Roman Abramovich.

Dudley Plays Down TNK-BP Asset Sale

  • 12 September 05
  • Reuters
Russia's No. 2 oil producer, TNK-BP, said Friday that it was looking at possible asset disposals but had not yet decided to sell oil production units in the European part of Russia.

Kasyanov Criticizes Putin Policies as False

  • 23 August 05
  • Reuters
Former Prime Minister Mikhail Kasyanov has thrown down the gauntlet to President Vladimir Putin with a manifesto for Russia in which he trashes the Kremlin's policies.

Novatek Hopes for $1Bln IPO

  • 21 July 05
  • Reuters
The London stock market's Russian season is set to continue on Thursday when trading opens in newly listed gas producer Novatek, which investors have been queuing up to buy.

Shell Delays Huge Sakhalin-2 Project

  • 15 July 05
  • Reuters
The energy giant also warns that project costs in the venture with Gazprom will double to $20 billion.

Tax Jitters Cause Fall in Sibneft Profit

  • 13 July 05
  • Reuters
Russia's fifth-largest oil firm, Sibneft, which is up for sale, revealed a 10 percent drop in 2004 net profit on Tuesday, as the burden of taxes outweighed the windfall from high oil prices.

Rumors of Sibneft Sale Fueled by Payout

  • 05 July 05
  • Reuters
Oil firm Sibneft fueled bid speculation on Monday by saying it planned to pay out a record $2.29 billion in dividends to shareholders, led by billionaire Roman Abramovich.

TNK-BP Viewed as Next Oil Blue Chip

  • 03 March 05
  • Reuters
Investors looking for a safe-haven oil stock in the choppy waters of Russia's equity market say a planned listing by TNK-BP could be a rare treat -- a solid oil play in the world's No. 2 oil exporting country.

TNK-BP Valued at $18.5Bln

  • 17 January 05
  • Reuters
Oil major TNK-BP on Friday launched a plan to bring its sprawling structure under one roof and streamline an $18.5 billion operation that includes 600 Russian firms and is half owned by Britain's BP.