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. Last Updated: 07/27/2016

Business in Brief

Oil Exports Up 15%

MOSCOW (MT) -- Oil exports grew 15 percent year on year to 138.67 million metric tons in January through September, Interfax reported a source in the State Customs Committee as saying Monday.

Revenues from oil exports grew by 3 percent, or $704 million, to $20.66 billion in that period.

Russia's largest customer is Germany, which received 14.79 million tons. Italy, the Netherlands and Poland followed with 13.89 million tons, 12.67 million tons and 11.4 million tons, respectively.

More than 23.6 million tons were exported to other members of the CIS.

Grain Support

MOSCOW (AP) -- President Vladimir Putin said Monday that the government was not doing enough to buy surplus grain from farmers after the second bumper harvest in a row, Itar-Tass reported.

Putin told the Cabinet that on a recent trip to an agricultural region, he saw that "despite a lot of talk, we have been too sluggish."

The government last week began buying up surplus grain to keep prices afloat.

Surgut in Belarus

MOSCOW (MT) -- Surgutneftegaz general director Vladimir Bogdanov arrived in Minsk on Monday to discuss cooperation in the Belarussian petrochemicals sector, Interfax reported.

Bogdanov is to meet with President Alexander Lukashenko on Tuesday.

Renault in Moscow

MOSCOW (Vedomosti) -- French car company Renault is to renew assembly at a factory in Moscow, a Renault spokesman said Friday.

As many as 20 Renault Symbols per day may be produced at the plant, which is owned jointly by Renault and City Hall.

Renault started production of its Renault Megane at the plant in 1999 but stopped in August 2000.

RTS Climbs 0.89%

MOSCOW (Reuters) -- Domestic buying drove most Russian stocks higher Monday, led by Unified Energy Systems and Gazprom a day before a key board meeting at the gas monopoly.

The benchmark RTS index closed up 0.89 percent at 353.40 on turnover of $19.9 million.

Gazprom was the day's strong performer on high volume, ending up 2.76 percent at 26.4 rubles. UES was also a strong gainer, ending up 1.45 percent at $0.1260.

Diamond Deal

MOSCOW (Prime-Tass) -- The government has approved a draft agreement with South Africa on cooperation in the diamond sector, the government press service reported Monday.

The government instructed the Finance Ministry to hold talks on the agreement and sign an accord on behalf of the government, the press service said.

The agreement regulates cooperation between the two countries in holding geological surveys and extracting, evaluating, processing and selling diamonds, as well as in producing and selling jewelry.

For the Record

State oil firm Rosneft has won a tender to buy the Primorsk region government's 19.1 percent stake in the Primorskugol coal company, a Primorskugol source said Monday. (Prime-Tass)

State-owned Vneshtorgbank, or VTB, is to receive a two-year, $240 million credit from a syndicate of 32 banks, VTB vice president Denis Ursulyak said Monday. Deutsche Bank and Citibank are co-organizers. (Prime-Tass)

Industrial output rose 4 percent year on year from January to October, the State Statistics committee said Monday. No absolute figures were provided. (Prime Tass) n Oil major Surgutneftegaz has increased its stake in Rosbank to 19.99 percent from 7.66 percent, the bank's press service reported Monday. No details on the transaction were available. (Prime-Tass)

Leaders of factions in the State Duma voted to delay the discussion of the power reform bill in second reading, the Intellinews news agency reported Vyacheslav Volodin, head of the Fatherland-All-Russia faction, as saying Friday. The Duma was scheduled to discuss the bill on Nov. 29. (MT)