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. Last Updated: 07/27/2016

Business in Brief

Sberbank Existing Share Sale



ASTANA, Kazakhstan -- Sberbank plans to list existing shares in London rather than raise fresh equity, its new head, German Gref, said Wednesday.

"It won't be a supplementary issue -- it will be existing shares," Gref told reporters in the Kazakh capital, Astana.

Gref said a timetable for the London listing would be set in the new year. (Reuters)




Rosneft, LUKoil Violations



The Natural Resources Ministry found violations of license agreements at fields operated by units of LUKoil and Rosneft, the ministry said Wednesday.

LUKoil's Ritek unit is working in the Khanty-Mansiisk autonomous district without proper documentation and is behind its production timetable, and Udmurtneft, a company owned by Rosneft and Sinopec, is not producing enough oil or drilling the number of wells stipulated in the license, the ministry said. (Bloomberg)




RusAl in New Norilsk Bid



United Company RusAl plans to bid for a 2 percent stake in Norilsk Nickel to boost its holding in the world's largest nickel and palladium producer to 27 percent, the company said Tuesday.

RusAl sent a purchase request to KM Invest, which is selling part of the stake jointly held by billionaires Mikhail Prokhorov and Vladimir Potanin, RusAl said. (Bloomberg)




Gazprom Gets More OGK-6



Gazprom has bought 46.6 percent of a supplementary share offering by wholesale generator OGK-6, securing a 17 percent stake, OGK-6 said Tuesday.

Gazprom paid 20.999 billion rubles ($849 million) for 5.53 billion shares, priced at 3.8 rubles each. (Reuters)




Gazprom Reserves Steady



Gazprom will replace oil and gas reserves this year, deputy chief executive Alexander Ananenkov said, Interfax reported Wednesday.

Gazprom will add 610 million tons of oil equivalent this year, about the same amount it did last year, Ananenkov said, Interfax reported. (Bloomberg)




Oil-Export Tax Up 18%



Russia will increase its tax on oil exports Feb. 1 by at least 18 percent to a record on rising world fuel prices in November and December, said Alexander Sakovich, deputy head of the Finance Ministry's customs department.

The tax will top $325 per ton and is likely to exceed $330, Sakovich said. The current duty is $275.40 per ton, or $37.57 per barrel. (Bloomberg)




Sberbank Lends $13.7Bln



Sberbank lent companies and individuals 338.6 billion rubles ($13.7 billion) last month, a national record, as a global credit squeeze made it harder for businesses to borrow abroad.

Sberbank boosted outstanding loans by 9.5 percent to 3.91 trillion rubles ($158 billion) in November under outgoing chief executive Andrei Kazmin, according to investment bank Renaissance Capital and data posted on the bank's web site Wednesday. (Bloomberg)




Consumer Gas Up 1%



Consumer prices for gasoline have grown by 0.9 percent on average across Russia from Dec. 11 to Dec. 17, Interfax reported Wednesday, citing the State Statistics Service.

Overall, consumer prices for gas have grown by 7.8 percent from Jan. 1 to Dec. 17, Interfax said. (MT)




$2.5Bln for St. Pete Port



ST. PETERSBURG -- St. Petersburg ports spent a record $2.5 billion on upgrades and expansion this year as exports and imports advanced, Vedomosti reported Monday, citing analysts and companies.

The largest project is the construction of the Baltic Container Terminal at Ust-Luga, the first phase of which is scheduled to be completed next year, the newspaper said. (Bloomberg)




China Oil Pipeline Delayed



Transneft will miss its deadline for building an oil pipeline across eastern Siberia to the Chinese border by the end of next year, Vedomosti reported Tuesday.

Transneft delayed some spending on the project until 2009, the newspaper said, citing an unidentified person close to the state-controlled oil pipeline operator's board. (Bloomberg)




Sedmoi Rejects TPG Offer



Alexander Zanadvorov, the owner of Sedmoi Kontinent, rejected a $1.37 billion offer for the supermarket chain from TPG because it was too low, Kommersant reported Wednesday, citing sources familiar with the matter.

Buyout firm TPG and Goldman Sachs Group's private equity fund had offered to buy 65 percent of the retailer's parent 7K Invest Holding, the newspaper said. (Bloomberg)




Border Gridlock Eases



ST. PETERSBURG -- Russian truck lines at the border with Latvia eased Tuesday after record delays as drivers tried to leave the European Union before the start of the Christmas holiday.

The number of trucks waiting at the Burachki crossing on the road to Moscow shrank 33 percent to 800 as of 1 p.m., the St. Petersburg-based Northwestern Customs Agency said. At the Ubylinka crossing for St. Petersburg, the backlog fell 44 percent to 530 trucks. (Bloomberg)




For the Record



Gazprom will pump 548 billion cubic meters in 2007, or 3 bcm less than expected this year, deputy chief executive Alexander Ananenkov said, Interfax reported Wednesday. (Bloomberg)

Billionaire Oleg Boiko bought a controlling stake in Rive Gauche, the biggest cosmetics retailer in the St. Petersburg area, his Finstar holding company said Tuesday. (Bloomberg)

Billionaire Alexei Mordashov, who controls steelmaker Severstal, became the chairman of Power Machines after he gained control of the country's biggest turbine maker last month. (Bloomberg)

Renault will pay for a 25 percent stake in AvtoVAZ in three stages, Vedomosti said Tuesday, citing people familiar with the matter. (Bloomberg)

Authorities destroyed more than half a million birds in the Rostov region, near the Black Sea, after an outbreak of the lethal H5N1 strain of avian influenza, the Emergency Situations Ministry said Wednesday on the web site of its local branch. (Bloomberg)

Samsung Heavy Industries said Monday that it signed a contract to build two floating drilling rigs for a customer in Russia valued at 1.08 trillion won ($1.15 billion). (Bloomberg)

MegaFon said Monday that its third-quarter profit rose 26 percent, net income climbed to 10.4 billion ($420 million). (Bloomberg)