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. Last Updated: 07/27/2016

Business in Brief

$128Bln for Rosatom to '20

Rosatom chief Sergei Kiriyenko said Tuesday that Prime Minister Vladimir Putin had approved the state corporation's spending program through 2020, expected to be "considerably more" than 3 trillion rubles ($128 billion), Interfax reported.

Of that sum, 2 trillion rubles would be needed through 2015, Kiriyenko told reporters, with half of that coming from the federal budget, the news agency reported. (MT)

Power Machines in Iran

Heavy-machinery builder Power Machines said Tuesday that its Kaluzhsky Turbine Factory unit signed a contract worth around 1.8 million euros ($2.8 million) to deliver two gas-powered turbines to an Iranian energy station.

The 8-megawatt turbines will be delivered to the Shahid Montazeri station in Isfahan, 340 kilometers south of Tehran, in the fourth quarter of 2009, Power Machines said. (MT)

Gazprom Mulls Pipe Access

Gazprom said Tuesday that it might increase the amount of associated gas it puts into its pipelines to help oil producers reduce the flaring of gas released during crude extraction.

The company reviewed the possibility of upgrading and building infrastructure to receive more associated gas during a meeting chaired by deputy CEO Alexander Ananenkov, Gazprom said. (Bloomberg)

French Escort Russian Ship

PARIS -- French maritime police escorted a Russian bulk carrier to the port of Dunkirk after it spilled fuel in the English Channel.

The spillage, about 25 kilometers long and 50 meters wide, was spotted by the crew of a customs helicopter Monday, the Maritime Prefecture of the Channel region said in a statement. The pollution was the result of an "illicit discharge" by the Skulptor Anikushin, a 139-meter boat owned by North-Western Shipping Company and heading for its home port of St. Petersburg, the French agency said. (Bloomberg)

CTC Says Q2 Profit Up 59%

CTC Media, which controls the country's fourth-biggest television network by market share, said Tuesday that second-quarter profit rose 59 percent as advertising sales increased.

Net income climbed to $48.8 million, or 31 cents per share, from $30.7 million, or 19 cents per share, a year earlier under U.S. accounting rules, CTC Media said. (Bloomberg)

Ulyukayev on 'Oil Bubble'

The country may be hurt by the potential bursting of the "oil bubble," caused by a "long period of slowing economic growth" that the world has entered, Central Banker first deputy chairman Alexei Ulyukayev said, Izvestia reported Tuesday.

Predictions of the bubble bursting coming true would "greatly affect us because a sharp drop in oil prices would be inevitable," Ulyukayev told the newspaper in an interview. (Bloomberg)

For the Record

LUKoil plans to borrow $750 million to help pay for the purchase of Turkish filling station chain Akpet, Interfax reported Tuesday, citing an unidentified banker. (Bloomberg)

St. Petersburg's Pulkovo Airport, the country's biggest outside Moscow, said Tuesday that it handled 26 percent more passengers in the first half as demand rose for domestic and international travel. (Bloomberg)