Russia

Severstal to reduce its capital investments by 30%

The Balakovo plant will become the last investment project of the company. Severstal is not going to construct any new facilities.
As reported by the General Director of the company, Aleksei Mordashov, in 2014-2017 annual capital investments won’t exceed $1 billion. At the same time, about $400 million will be invested into development – small projects at the amount of $5-10 million USD. “We invest into development very carefully and only in the spheres where we are confident about the target return on investment”, CFO of the company, Aleksei Kulichenko said.

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In the first 9 months, Novatek decreased its net profit under RAS by 24% to 26.9 billion rubles

In January-September of 2013, the Russian independent gas producer Novatek decreased its net profit under RAS by 23.6% as compared with the same period of 2012 to 26.912 billion rubles, the company reports.

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Severstal’s Head offers world steel makers to come to agreement on production decline

The General Director and main owner of Severstal Alexei Mordashov in interview to the Financial Times has called Chiefs of the largest world steel-smelting companies to develop and conclude a global agreement on limitation of steel smelting and stoppage of excess capacity.
“We will be doomed to relegation battle without solving problem of ratio between demand and supply, without optimization of the sector, - Mordashev said. – The surplus of capacities is a complicated problem for our industry in global scale, a deep crisis, like the one in the USA 10-15 years ago, threatens us without its solving – then every fourth steel-smelting enterprise became bankrupt”.

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Gazprom reduced gas prices for the Hungarian Panrusgas and Centrex

Gazprom has completed negotiations about prices revision with the Hungarian Panrusgas and Centrex. In 2013, Gazprom and GDF Suez closed the agreement on revision of the terms of the long-term contracts and completed the negotiations about prices revision with the Hungarian Panrusgas and Centrex. In July, the Deputy Chairman of Gazprom A. Medvedev told that the company was going to complete the negotiations with the European consumers about the contracts revision. The negotiations were held with Eni, GDF and Econgas. Mr.

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In 2014, Lukoil to invest 4 billion rubles into oil production in Tatarstan

In 2014, Lukoil to invest 4 billion rubles into oil production in Tatarstan, the Company’s President, Vagit Alekperov stated after his meeting with the President of Tatarstan, Rustam Minnikhanov.
Previously he reported that the usual annual amount of the Lukoil’s investment program in Tatarstan makes up about 1.5 billion rubles. The company will invest into the exploration and production of oil, including high-viscosity oil, but the main amount will be invested into drilling, the businessman said during the meeting with the President of Tatarstan.
In 2013, the Lukoil’s subsidiary – Ritek – produced 960 million tons of oil in the republic; in 2014, 1 million tons are planned to be produced. “We reached the sales volumes of over 200 thousand tons of oil products in the republic,” – he reported.

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In January-September, Nizhnekamskneftekhim decreased its net profit under RAS 2.3 times to 6.54 billion rubles

In January-September, Nizhnekamskneftekhim decreased its net profit under RAS 2.3 times as compared with the same period of 2012 to 6.538 billion rubles, the company reports.

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In January – September, Gazprom increased exports by 5.8% to 157.96 billion cubic m

In January – September, Gazprom increased exports by 5.8% to 157.96 billion cubic m, including 118.45 billion cubic m exported to Europe (+15.6%), according to the report by RAS. The company increased exports to Western Europe by 19.5% to 93.31 billion cubic m, to Central Europe by 3.5% to 25.14 billion cubic m, and reduce exports to the CIS and the Baltic states by 15.6% to 39.51 billion cubic m.

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Russia to begin duty-free supplies of oil products to Tajikistan

Agreement on duty-free supplies of Russian oil products to Tajikistan has been published in official mass media that means its coming into legal force, the Interfax reports, referring to the Russian Embassy in Dushanbe.
The agreement provides for annual supply of 1 million tons of oil products.

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Seligdar has accomplished the plan for gold production ahead of schedule

Seligdar has accomplished the plan for gold production at a rate of 3.305 tons ahead of schedule. The leaders in production are the sites of Nadezhda at the Nizhne-Yakotkinskoye ore field and Podgolechny launched last year. Before the end of the year, they are going to exceed the plan by 10% to 3.650 tons.

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Mechel shares rose by 12%

~~Mechel ordinary shares rose by 12% and even by 15.5% at one point on MICEX, and their preference shares rose by 8% and  by 12.1% at one point.
Yesterday in the evening, they fell by correspondently 41% and 23.3%. The price fell by 40% at the start of bidding at the NYSE.

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