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. Last Updated: 07/27/2016

Business in Brief

Aeroflot Leases 7 Airbus Jets



Aeroflot said Wednesday that it had signed an agreement to lease seven Airbus A321 passenger jets, in a deal financed by several European banks.

Under the deal, financed by Natexis Banques Populaires, Calyon and ABN Amro, the planes will be acquired by the company this and next year. The first of seven airliners was delivered today.

Aeroflot spokesman Irina Danenberg refused to disclose the deal's volume, saying it was a commercial secret. (AP)




Mosenergo Picks 2 For Plant



Mosenergo picked two groups for the final stage of a tender to build a 420-megawatt, natural-gas-fired power plant, the company said Wednesday.

U.S.-based General Electric and the Spanish utility Iberdrola form one group, French and Russian machine-makers Alstom and Emaliance the other, the statement said.

The plant will be added to Mosenergo's Moscow-based Power Plant No. 26 and start operations by 2008. (Bloomberg)




Czech Power Acquisitions



WARSAW -- CEZ, the Czech Republic's biggest power company, expects to complete acquisitions in Ukraine and Russia within months as part of an $8.8 billion plan to expand in Central and Eastern Europe.

Since the second half of last year, CEZ has been in talks about buying VSE Energy International's holdings in as many as eight Ukrainian power distributors. The company is also in talks to invest in a gas-fired power plant near Moscow, CEO Martin Roman said in Warsaw, where CEZ shares began trading Wednesday. (Bloomberg)




Uzbek Mobile Deal on Hold



MegaFon has suspended talks to buy an Uzbek mobile phone operator, Interfax reported Wednesday, citing Alexei Nechiporenko, the company's deputy CEO.

MegaFon said earlier it was interested in buying Coscom, Uzbekistan's third-largest mobile phone company. The Uzbek company is 85 percent owned by MCT of the United States. (Bloomberg)




Estonian Oil Eyes Listing



RIGA, Latvia -- Estonian Oil Services may seek a listing on the Tallinn stock exchange, the business newspaper Aripaev reported Wednesday, citing company shareholders, reported the Baltic News Service.

The listing would help raise money for planned mergers with three other port operators at Muuga, a port east of the capital, Tallinn. With the mergers EOS would be able to provide oil processing and storage services. (Bloomberg)




Latvian Utility Rise Rejected



Latvia's public utilities regulator rejected proposals to raise the price of electricity and natural gas because they did not include signed contracts with suppliers, a regulatory spokeswoman said Wednesday.

The requests put forward by Latvenergo, the state-owned electricity provider, and Latvijas Gaze, the country's natural gas distributor, did not provide agreements with suppliers showing why prices should be increased, spokeswoman Zanete Luse said. (Bloomberg)




U.S., Russia in WTO Deal



Deputy Prime Minister Alexander Zhukov said a bilateral deal with the United States on Russia's membership into the World Trade Organization could still be signed this month despite continuing differences, Russian news reports said.

Zhukov voiced hope that negotiators could reach a compromise on the last remaining stumbling block -- the issue of U.S. meat exports to Russia. "I think a solution to this issue will be found," he said at a news briefing late Tuesday, adding that the talks still could be completed by the end of the month, Interfax and RIA-Novosti reported. (AP)




BP Raises Azeri Oil Estimate



LONDON -- BP raised by 20 percent its estimate of proven oil reserves in three offshore fields in the Azeri sector of the Caspian Sea, which the British company is developing with partners, Interfax reported Wednesday, citing Tair Tairov, a BP manager in Azerbaijan.

The proven reserves of the Azeri Chirag-Gunashli fields are now estimated at 6.5 billion barrels of crude, up from an earlier 5.4 billion barrels.

BP estimates fields in the Caspian Sea might hold another 7.6 billion barrels that aren't proven yet. (Bloomberg)




Rosneft: No Plans to Borrow



Rosneft reiterated that it has no plans to borrow this year, after Interfax reported the company was in talks with banks to borrow $24.5 billion, citing unidentified bankers.

The company does not plan to borrow further this year, Rosneft spokesman Nikolai Manvelov said Wednesday, citing earlier statements from CEO Sergei Bogdanchikov. (Bloomberg)