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. Last Updated: 07/27/2016

Business in Brief

Uzbeks Boost Gas Sales

TASHKENT, Uzbekistan -- Uzbekistan will boost natural gas sales to gas monopoly Gazprom to 13 billion cubic meters this year from 9 bcm in 2006, an Uzbek newspaper quoted a Gazprom official as saying Monday.

"[State oil and gas firm] Uzbekneftegaz and Gazprom have signed a contract on Uzbek natural gas exports [to Gazprom] with a total volume of 13 bcm," Maksut Anderzhanov, local representative of Gazprom's overseas subsidiary Zarubezhneftegas, told Uzbekistan's Birzha economic newspaper. (Reuters)

LUKoil Bonus Scheme

Almost $500 million of share purchases by managers of the country's biggest oil producer LUKoil were part of the firm's share incentive scheme, vice president Leonid Fedun said Monday.

LUKoil's accounts for the first nine months of 2006 show an expense of $258 million for the management incentive scheme, which is based on share price performance, up from $219 million one year before. (Reuters)

Arbat Prestige Delays IPO

Russia's top perfume and cosmetics retailer Arbat Prestige has postponed until 2008 an IPO originally planned for last year, adviser Troika Dialog said Monday.

In 2004, Troika Dialog investment bank bought 40 percent of Arbat Prestige shares from its sole owner, Vladimir Nekrasov, for $100 million, which valued the company at $250 million, Troika said in a statement. (Reuters)

Gazprombank Bond

Gazprombank plans to borrow up to $3 billion and $381.2 million on international and domestic markets in 2007, the bank said Monday.

"We have practically all kinds of borrowing instruments in mind -- eurobonds, syndicated loans and ruble bonds," said Roman Abdulin, head of the bank's financial operations department. (Reuters)

Skanska Market Plans

STOCKHOLM -- Skanska will exit the Russian construction market this year after failing to make its business there profitable, the Dagens Industri newspaper reported Monday, citing Skanska spokesman Peter Gimbe.

Skanska "has lost [millions of dollars] on Russia" and therefore plans to focus on countries where it has been successful instead, such as Poland and the Czech Republic, the Stockholm-based newspaper cited Gimbe as saying. (Bloomberg)

Iran May Swap Gas

TEHRAN, Iran -- Iran has started negotiations with other Caspian Sea littoral states such as Turkmenistan to start swapping gas, the Tehran Times newspaper reported Monday, citing Iranian Oil Minister Kazem Vaziri-Hamaneh.

Iran plans to export the swapped gas to Europe in the form of liquefied natural gas, he told the newspaper. Iran's main gas fields are located in the south, while the country's main needs are in the north. (Bloomberg)

Firm Investment Projections

Russian firms plan to invest $400 billion in new domestic projects by 2015, led by oil and gas companies in Siberia and the Far East, Vedomosti said Monday, citing an Institute of Regional Policy study.

Ninety percent of the planned investment projects are only feasible if the state invests in roads, railroads, electricity and communications, Vedomosti said, citing Krasnoyarsk region Governor Alexander Khloponin. (Bloomberg)

AngloGold Shares Surge

JOHANNESBURG, South Africa -- Shares of AngloGold Ashanti, the world's second-biggest gold producer, surged after the Sunday Times reported that Polyus might buy the 41 percent stake held in the company by Anglo American.

The Sunday Times of London did not say where it got the information. Anglo and Polyus declined to confirm or deny the story, while Reuters reported an unidentified person close to Polyus as saying the article was inaccurate. (Bloomberg)

Skoda Mulls New Small Car

PRAGUE -- Skoda Auto, the Czech unit of Volkswagen, is considering producing an inexpensive small car for the Indian, Chinese and Russian markets, Hospodarske Noviny reported Monday.

The car would sell for between 7,000 euros ($9,205) and 8,000 euros, the paper said, citing an interview with Skoda CEO Detlef Wittig. (Bloomberg)

UPM Logging Supervision

HELSINKI -- Paper maker UPM-Kymmene said Monday that it had improved its supervision over Russian logging companies to ensure its Russian timber has been harvested legally.

UPM said that it checked operations of 150 logging companies in Russia last year and made environmental evaluation at 252 logging sites. (Reuters)

Sinergo's Moscow Plan

Sinergo Development, a group of companies including Britain's Norfolk investment fund, plans to spend $3 billion on real estate projects in Moscow, Kommersant reported Monday, citing sources close to the group.

Sinergo, which also includes a Spanish financial and industrial corporation close to Eurohypo, will build more than 600,000 square meters of residential town houses and a business center in Moscow in the next five years, the newspaper said. Norfolk manages more than 12 billion euros ($15.8 billion) in assets, Kommersant said. (Bloomberg)

Prokhorov to Control Realty

Billionaire Mikhail Prokhorov will get partner Vladimir Potanin's stake in property developer Open Investments as the two businessmen split holdings that include 54 percent of Norilsk Nickel, Vedomosti reported Thursday.

Potanin is using his stakes in Open Investments and Polyus, a gold producer, to pay for Prokhorov's stake in Norilsk Nickel, the world's biggest nickel miner, the newspaper said, citing sources familiar with the matter.

The two billionaires on Jan. 31 said they would split assets they jointly owned through the Interros holding company. Interros has a controlling stake in Open Investments, Vedomosti said, without giving a precise figure. (Bloomberg)