Greece puts gas group up for sale as privatisation programme kicks off February 29, 2012 GREECE has invited bids for state-owned gas company DEPA, as it moves ahead with a privatisation programme meant to raise €19bn (£15.9bn) by 2015. According to an offer document published yesterday, the government is considering a “bundled” sale of DEPA, combining its wholesale, trading and gas supply business as well as its DESFA networks and [...]
Greece open to offers for state gas company DEPA February 29, 2012 Greece has invited bids for state-owned gas company DEPA, as it moves ahead with a privatisation programme targeted to raise 19 billion euros (£16bn) by 2015. According to an offer document published on Wednesday, the government is considering a “bundled” sale of DEPA, combining its wholesale, trading and gas supply business as well as its [...]
£10bn profits top forecasts for Gazprom August 30, 2011 RUSSIAN gas export monopoly Gazprom’s quarterly profits beat analysts’ expectations yesterday as European buyers rushed to secure contracts at prices 21 per cent higher than a year ago. The company posted a 42 per cent increase in first-quarter earnings to 478.5bn roubles (£10.2bn), exceeding market expectations of a 29 per cent gain. The country’s largest [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 27, 2012 FINANCIAL TIMES CLEGG REBUKES ARGENTINA Nick Clegg has rebuked Argentina for making “baseless insinuations” about Britain’s nuclear submarine deployments, ratcheting up tensions over the Falkland Islands in a clash in front of more than 50 world leaders. UNITED TECH FACES PROBE OVER GOODRICH United Technologies is to face an in-depth European Commission investigation into its [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 18, 2012 FINANCIAL TIMES BANKING QUINTET UNITE FOR HEDGING TOOL Five banks have joined forces to create a hedging tool designed to improve the health of their balance sheets and protect them against market sell-offs as international regulations force institutions to increase the quality of their assets. Barclays Capital, HSBC, Lloyds, Nomura and UBS are to launch [...]
TNK-BP puts $10bn into Arctic plans December 14, 2011 RUSSIAN oil company TNK-BP, half-owned by BP, will invest up to $10bn (£6.4bn) in Arctic oilfield development and construction of a pipeline to link the fields with the export pipeline, the company said yesterday. Russia, the world’s top crude producer, is desperate to tap new hydrocarbon resources at the far-flung reaches of the Arctic and [...]
TNK-BP puts $10bn into Arctic plans December 14, 2011 RUSSIAN oil company TNK-BP, half-owned by BP, will invest up to $10bn (£6.4bn) in Arctic oilfield development and construction of a pipeline to link the fields with the export pipeline, the company said yesterday. Russia, the world’s top crude producer, is desperate to tap new hydrocarbon resources at the far-flung reaches of the Arctic and [...]
Russian tax freeze set to hit Gazprom June 1, 2011 RUSSIA will not increase its mineral extraction tax for independent gas producers, finance minister Alexei Kudrin said yesterday, leaving state export monopoly Gazprom to bear the brunt of tax increases. Gazprom deputy chief executive Alexander Ananenkov warned that if the ministry carries through with proposed output levies, production would decline. “More gas will end up [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 22, 2011 FINANCIAL TIMES CALLS FOR QE TO STAVE OFF EURO DEFLATION A top European Central Bank policymaker has called for “quantitative easing” to be used to boost the eurozone economy if deflation risks emerge across the region. The comments by Lorenzo Bini Smaghi, ECB executive board member, are the strongest indication yet that the central bank [...]
MRSK lists on LSE to attract new investors December 8, 2011 RUSSIAN power grid company MRSK listed its shares in London yesterday in a move it hopes will boost the liquidity of its stock and enable it to raise funds in the future, its chief finance officer told City A.M. The technical listing, in which no money is raised, will see MRSK list 25 per cent [...]