Russian state bank eyes E.ON’s stake in Gazprom November 25, 2010 A DEAL for the sale of German utility E.ON’s stake in dominant Russian gas company Gazprom to Russian state bank VEB may be announced as early as today, a source in Russia’s energy ministry said yesterday. “The idea is completely realistic. I think that this is what will happen, I think it will be announced [...]
Gazprom mulls float of units September 6, 2010 RUSSIAN energy company Gazprom said yesterday it planned to combine its numerous electricity holdings under a single entity that it would float on the stock market. Combining the assets, some of them large electricity providers, would create Russia’s second-biggest power producer after state-controlled Rushydro, Renaissance Capital analyst Vladimir Sklyar said. The consolidation would be done [...]
Cold winter boosts Gazprom September 2, 2010 RUSSIA’S Gazprom, the world’s biggest gas producer, beat forecasts for first-quarter sales and profit, as a surge in domestic revenues offset a sharp drop in prices to European customers. Gazprom supplies a quarter of the European Union’s gas needs, but economic weakness has slashed demand, and some customers there have secured lower prices on long-term [...]
Russia’s deputy premier to leave Rosneft chair March 31, 2011 Russian president Dmitry Medvedev has ordered top ministers to quit the boards of major state firms, launching a drive to separate politics from business less than a year before a presidential election. The most prominent target of the shakeout was Igor Sechin, a deputy premier with sweeping control over energy policy who as chairman of [...]
Russia’s deputy premier to leave Rosneft chair March 31, 2011 Russian president Dmitry Medvedev has ordered top ministers to quit the boards of major state firms, launching a drive to separate politics from business less than a year before a presidential election. The most prominent target of the shakeout was Igor Sechin, a deputy premier with sweeping control over energy policy who as chairman of [...]
TNK-BP talks up chances of Rosneft deal March 1, 2011 EXECUTIVES at TNK-BP are keen to join BP’s Arctic drilling deal with Russian oil company Rosneft, its chief financial officer confirmed yesterday. “In relation to Arctic opportunity it has been accurately reported that management at this point has proposed that the board consider participation in the Arctic opportunity,” Jonathan Muir told a conference call, adding [...]
What the other papers say this morning January 6, 2011 FINANCIAL TIMES GOLDMAN TEES UP SALE OF JAPAN GOLF COURSE Goldman Sachs is ending its long love affair with golf in Japan. The US investment bank is seeking buyers for its remaining stake in Accordia Golf, the country’s largest golf course operator. The proposed sale comes as Japan’s enthusiasm for golf is also cooling – [...]
Cameron denies any political tensions over Rosneft deal January 17, 2011 POLITICAL tensions over BP’s deal with Russian state-owned Rosneft were played down yesterday by the UK government. A spokesman for Prime Minister David Cameron said the share swap was “a commercial deal between two companies”, and did not indicate a thaw in political relations between Britain and the Russian government. He said: “The Prime Minister [...]
A winning investment in Russia ETFs December 8, 2010 BARING Asset Managers were probably the only people in England to find an upside to Russia winning the bid to host the 2018 World Cup last week. They believe that the win offers us a better case for investing in the emerging giant. Indeed, the improved infrastructure and reputation that comes with hosting the Cup [...]
Greenergy launches bid for Total’s UK forecourts November 28, 2010 GREENERGY, a supplier of fuel to British supermarket petrol stations, has launched a £1bn-plus bid to buy Total France’s UK retail network. Greenergy’s chief executive Paul Lester said he had held preliminary discussions with the French oil major about buying its portfolio of 780 petrol station forecourts. The supplier, in which the world’s number three [...]