Install

Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Business in Brief

Alekperov Ups LUKoil Stake



LUKoil CEO Vagit Alekperov bought $1.4 billion of shares in the oil company yesterday, while board member Nikolai Tsvetkov sold $1.23 billion of stock.

Alekperov bought 18.35 million shares and Tsvetkov sold 16.1 million, LUKoil said in a statement distributed via the Regulatory News Service on Tuesday.

LUKoil said in April that Alekperov owned 17 percent of the company directly and indirectly. (Reuters)




Sibur to Expand in Plastics



LONDON -- Sibur petrochemical company plans to invest about $3 billion through 2010 to expand its business, produce more plastic and refine more natural gas.

Sibur, a unit of Gazprom, intends to increase revenue about 8 percent this year and about 5 percent per year until 2011. The company will grow 30 percent starting in 2011, when several projects will be completed, President Dmitry Konov said. (Bloomberg)




Turkmen Leader to China



ASHGABAT, Turkmenistan -- Turkmenistan's president will travel to China for a two-day visit this month to focus on speeding up a energy deal signed last year between the countries, the government newspaper said Tuesday.

President Gurbanguly Berdymukhammedov planned to be in China from July 16 to 18, Neutral Turkmenistan newspaper reported.

Under the energy deal, China would buy 30 billion cubic meters of natural gas annually from the resource-rich Central Asian country over 30 years, to be delivered through a new pipeline slated for completion by 2009. (AP)




Oil Shipments to Rise 4.5%



Russia will probably ship about 4.5 percent more crude from its main terminals this month.

Exporters plan to load an average of at least 3.04 million barrels per day of Russian Urals crude oil next month at the ports of Primorsk, Novorossiisk, Gdansk, Odessa, Yuzhny and Tuapse, according to preliminary schedules received from brokers. June shipments from the facilities were planned at 2.91 million barrels per day. (Bloomberg)




Transneft Q1 Net Falls 10%



Oil pipeline monopoly Transneft said Tuesday first-quarter net income fell 10 percent to 16.82 billion rubles ($655.6 million), Interfax reported.

Revenue declined 7 percent to 54.34 billion rubles. (Bloomberg)




Rosneft Crude Via Mongolia



Rosneft agreed with Sinopec to ship 200,000 tons per month of crude to China through Mongolia, Kommersant reported Tuesday.

Rosneft signed the contract in June, Kommersant said, citing an unidentified official at the company. Rosneft plans to deliver about 2.5 million tons of oil via the Naushki passage on the Russia-Mongolia border, the newspaper said.

Together with the 8.9 million tons Rosneft ships to China through Zabaikalsk, that would bring its crude oil exports to China to about 11.5 million tons per year. (Bloomberg)




Firtash's Ex Wants Half



Maria Firtash, whose billionaire former husband Dmitry controls 45 percent of Ukraine's biggest gas supplier, will sue to get half of his business as part of a divorce package, Vedomosti reported Tuesday.

A Kiev court on May 11 decided in favor of Maria Firtash, ruling the couple's out-of-court settlement invalid, Vedemosti said, citing court documents. Now she plans to sue for half of Group of Dmitry Firtash, she told the newspaper.

Yuriy Boyko, a former representative of Dmitry Firtash and now Ukraine's energy minister said Maria Firtash fully understood the agreement she signed in 2005. Dmitry Firtash, who owns almost half of RosUkrEnergo, was unavailable for comment, the newspaper said. (Bloomberg)




Carbon Fund in Phosphate



Russian Carbon Fund, a Merrill Lynch-backed carbon fund, agreed to invest in a project to cut greenhouse gas emissions at a plant owned by FosAgro Group, the country's biggest producer of phosphate fertilizer.

The Copenhagen-based fund will help FosAgro's Cherepovets Azot plant to cut emissions of nitrous oxide by "several million tons," fund CEO William Shor said. Carbon Fund is investing in technology that will reduce emissions from the plant from next year, he said. (Bloomberg)




Azeris Offer Gas to Gazprom



Azerbaijan has offered to sell gas to Gazprom and could deliver it to Dagestan through the Mozdok-Gazi pipeline, a source said Tuesday.

"We have offered to sell Gazprom 1 million to 1.5 million cubic meters of gas per day at $230 per 1,000 cubic meters to supply Dagestan," a source at the Azeri state oil and gas firm Socar said. Gazprom declined immediate comment. (Reuters)




Venezuelan Drug Stores



Locatel, a Venezuelan pharmacy chain, is planning to invest $200 million to expand in eastern Europe, Interfax reported Tuesday.

Locatel plans to open 60 stores in the region over the next five years, Interfax said, citing a company statement.

The company opened its first store in Moscow two days ago at a cost of about $3 million. (Bloomberg)




S. African Paper Investment



JOHANNESBURG, South Africa -- Mondi, the South African paper and packaging company spun off by Anglo American, will spend 875 million euros ($1.19 billion) over the next two years on expanding and modernizing plants in Russia and Poland, CEO David Hathorn said Tuesday.

Hathorn spoke in a presentation at South Africa's stock market in Johannesburg, where Mondi shares began trading. Mondi shares also trade in London. (Bloomberg)




Evraz Begins Highveld Sales



Evraz Group, partly owned by Roman Abramovich, has begun selling some assets of Highveld Steel & Vanadium to meet the demands of European and South African antitrust regulators.

Evraz, which bought a majority stake in Highveld, pledged to divest vanadium assets including Highveld's Vanchem Operations, a 50 percent stake in South Africa Japan Vanadium and shares in the Mapochs Mine, Evraz said Monday. (Bloomberg)




Vimetco Plans Listing



LONDON -- Vimetco, an aluminum producer with plants in China and Romania controlled by Russian businessman Vitaly Machitsky, plans to sell shares this month and list on the London Stock Exchange.

Vimetco's sale of global depositary receipts will be managed by Morgan Stanley and UniCredit Markets & Investment Banking, the Amsterdam-based company said Tuesday in a statement. It did not say how much it planed to raise from the sale. (Bloomberg)