Russia

Armenian subsidiary of Gazprom not to pay dividends-2013 in connection with a loss

Shareholders of ArmRosgazprom (the subsidiary of Gazprom in Armenia) have decided not to pay dividends by results of 2012 in connection with  losses in the amount of 64.9 billion drams (about 5.2 billion rubles), the company reports.
Shareholders also elected the ArmRosgazprom’s Board, which will consist of Vardan Harutyunyan, Nikolay Vasiliev, Valery Golubev, Joseph Isanyan, Elena Karpel, Armen Movsisyan and Alexander Frolov.

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Mechel has retained JP Morgan for the sales of its US coal business

The Russian coal producer Mechel has retained the investment bank JP Morgan for the sale of its American coal subsidiary Mechel Bluestone, as the market’s export potential is weak and the company has debt burden of over $9 billion.

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In 2012, Tatneft decreased investments by 5.4% to 63.6 billion rubles

In 2012, the total amount of Tatneft Group’s investment made up 63.6 billion rubles, Tatneft’s General Director, Shafagat Takhautdinov stated.
In 2011, the total amount of Tatneft’s investments was 67.2 billion rubles.
“In 2012, significant amounts were invested into production of oil and gas – 30.7 billion rubles, as well as into construction of a complex of oil-processing and petrochemical plants in Nizhnekamsk (Taneko) – 27.7 billion rubles,” – Takhautdinov said at the annual meeting of shareholders on Friday.

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Tajikistan looks for alternative to Uzbek gas

The negotiations between Tajikistan and Uzbekistan over gas supplies have failed, the Minister of Energy and Industry of Tajikistan G. Sherali says. Uzbekistan stopped gas supplies to Tajikistan in the end of 2012, and the new agreement between the sides have not been closed as yet.

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In the current year Tatneft to plans to resume its work in Libya

In the current year, Tatneft plans to resume its work in Libya, the company’s accounting report for 2012, which wasapproved at the annual meeting of shareholders on Friday, reports.
“Plans for 2013 intend to resume the activity at fields in Libya, licenses for which were received by Tatneft in 2005 and 2007 by results of auctions. The company managed to carry out a large volume of geological exploration and to discover three fields in its territory, where high yield of the first drilled wells were reached before the beginning of the armed stand-off in 2011,” – the accounting says.

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Gazprom repayment to RWE can be over Euro 1 billion over 3 years

Gazprom can pay back to RWE over Euro 1 billion over 3 years, for gas payments performed since May 2010, after the loss in the legal actions in the Vienna Arbitration Court and the revision of gas purchase prices. Last Thursday RWE reported that the Arbitration Court reached its verdict of a pay back to the company a part of the payments and corrected the formula for the calculation of the purchase price concerning the market conditions of the period. Gazprom will pay back the funds over 3 years.

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In the first 5 months, the Ukraine decreased gas import by 27%

In January-May of 2013, the Ukraine decreased the import of gas by 26.8% as compared with the same period of 2012 to 9.379 billion cubic meters, the Ukrainian Ministry of Energy and the Coal industry reported.
According to the Ministry, in May of 013 the gas import decreased more than 2 times as compared to May of 2012 to 0.82 billion cubic meters.

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In the first 5 months, the Ukraine increased oil transit to the EU states by 1.6%

In January-May of 2013, the transit of oil to the EU states (Slovakia, Hungary, the Czech republic) through the oil pipeline system of the Ukraine made up 6.208 million tons that is by 1.6% more than in the same period of 2012, the Ukrainian Ministry of Energy and Cal Industry reports.
According to the report, in May of 2013, the oil transit to these countries grew by 25% as compared with May of 2012 to 1.265 million tons.

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Surgutneftegaz responds to rumors about interest of Gazprom in merger of the company

A meeting of Surgutneftegaz’s shareholders has taken place in Surgut. One of issues, discussed on the margins, became a rumor that the Gazprom’s CEO Alexei Miller shows an interest in the purchase of the company of Vladimir Bogdanov, Kommersant reports. According to the edition, the concern, headed by Miller, appreciably loses ground and large deal may be good for it.

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Mass media compares the taxes of “Rosneft” and “Gazprom”

Rosneft paid 1.7 trillion, Gazprom – 1.9 trillion into the budget last year. But the oil company pays more taxes than the gas monopoly according to the use of some methods of calculations. Vedomosti writes citing the report of the spokesmen for the 2 companies.

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