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. Last Updated: 07/27/2016

Business in Brief

Gazprom Export Estimate



Gazprom estimates it will earn $27 billion from natural-gas sales, Interfax reported, citing an unidentified person close to the company. The company expects to sell its gas abroad at an average of $190 per 1,000 cubic meters, compared with an initial forecast of $145, Interfax reported. (Bloomberg)




Gazprom Seeks Mosenergo



Gazprom wants control of Mosenergo, Moscow's power-generation company, Vedomosti said Tuesday, citing a letter from Gazprombank chief executive Andrei Akimov to Prime Minister Mikhail Fradkov. The Federal Anti-Monopoly Service advised rejecting the proposal because Gazprom is a monopoly supplier of fuel to power companies in Moscow and the Moscow region, Vedomosti reported. (Bloomberg)




Georgians Talk Gas



TBILISI, Georgia -- A Georgian delegation traveled to Moscow on Tuesday for talks on natural-gas supplies, hoping for a long-term deal to replace agreements that the two countries' gas companies renegotiate each year. (AP)




Sibir Energy Court Decision



London-based Sibir Energy said Tuesday that it won a court victory in Moscow in a dispute with Sibneft over a Siberian oil field.

The Moscow Arbitration Court on Monday annulled the results of an Aug. 1 meeting held by Sibneft, at which the Russian company voted to take control of the creditors' committee and external management of Sibir Energy's unit, Yugraneft, Sibir said. (Bloomberg)




Surgut Oil Output Up 8.5%



Surgutneftegaz increased average daily output by 8.5 percent in the first eight months of 2005 compared with the year-earlier period. Oil output rose to 42.17 million tons (1.27 million barrels per day) from 33.9 million tons in the same period last year. Gas production rose 1.5 percent to 9.54 billion cubic meters. (Bloomberg)




UES Output Rises



Unified Energy Systems produced 1.6 percent more electricity in the first eight months of the year as economic growth fueled demand and the company compensated for a drop in nuclear power. It produced 47.6 billion kilowatt hours in August, up 4.8 percent from the same month last year. (Bloomberg)




Mechel Expands Plant



Mechel said Tuesday that it had opened a second line of its new $150 million sinter plant to boost its raw materials base and cut production costs.

The plant, expected to be brought fully on line by the end of the year, will eventually have a total annual capacity of 4.5 million tons of sinter, which is used to make steel. (Reuters)




Alfa Blocks MegaFon Deal



Alfa Group, embroiled in a conflict with other shareholders of mobile phone company MegaFon, has blocked a move to merge MegaFon's subsidiaries, Alfa said on Tuesday.

MegaFon's nine subsidiaries were to be merged with the head company as part of preparations for an initial public offering abroad. (Reuters)




Matviyenko Jr. Moves Up



Sergei Matviyenko, the son of St. Petersburg Governor Valentina Matviyenko, has purchased a 37.5 percent stake in Bank Sankt-Peterburg, Kommersant reported Tuesday, citing unnamed sources close to the deal.

The purchase would make Sergei Matviyenko, 32, the bank's biggest shareholder, with 43.92 percent.

The deal is part of a wide-reaching agreement that also involves the sale of shares in regional Promstroibank by Bank Sankt-Peterburg's owners to banking giant Vneshtorgbank, a source close to Sergei Matviyenko said. (MT)




RZD to Invest $19Bln



LONDON -- Russian Railways plans to spend at least 530 billion rubles ($19 billion) between 2006 and 2008 to upgrade tracks and cars. (Bloomberg)




Baltika Again Under Fire



Four unidentified senior executives at Krasnoyarsk region-based Pikra brewery, who are opposed to Baltika's plan to buy it, have taken their case to the local anti-monopoly service, Vedomosti reported Tuesday.

The move is aimed at annulling the July 7 shareholder approval of the deal on grounds that unauthorized parties participated in that vote. The executives object to the participation of voters linked to beer firm Baltic Beverages Holding, which part owns both Pikra and Baltika and is pushing the deal as part of a plan to bring all of its assets under one roof. (MT)




EU Meat Imports



Russia may restrict meat imports from the European Union if the trading bloc does not take steps to prevent smuggling into Russia of meat that may be tainted with disease, a top veterinary official said on Tuesday. (Reuters)