Finance

Transneft will place bonds for 20 billion rubles next week

Transneft will place bonds for 20 billion rubles next week, Bloomberg reports.
In April, the chief of Transneft, N. Tokarev said that the company could enter the loan market for attraction of financial resources for the project of the xpansion of the ESPO pipeline. He claimed that they needed 200 billion rubles for the creation all the necessary infrastructure for the expansion of the ESPO pipeline. Transneft was going to invest 30% of the sum from own resources.

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In H1, EuroPolGaz reduced its net loss 24 times to 11 million rubles

In the first six months of 2014, the net loss of EuroPolGaz, which manages the Polish section of the Yamal-Europe gas pipeline, made up 11 million rubles against 267 million rubles in the same period of the previous year, the Gazprom’s report under IAS says.

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In H1 2014, Gazprom increased transit expenses by 12% because of the growth in supplies via Nord Stream

In H1 2014, Gazprom increased transit expenses by 12% to 191.41 billion rubles at the expense of growth in supplies via Nord Stream, the company’s report by ISA tells.
Translated by Nadezhda Poltoratskaya
Source: http://www.ngv.ru/news/tranzitnye_raskhody_gazproma_vozrosli_na_12_prots_za_schet_rosta_postavok_po_severnomu_potoku/

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In H1 2014, Gazprom reduced capital expenses by 8.3% to 500.97 billion rubles

In H1 2014, Gazprom reduced capital expenses by 8.3% to 500.97 billion rubles by ISA. The company gives no explanations for reduction in capital expenses. According to the report by ISA, growth in expenses in the ‘Transporting’ segment is presupposed by construction of the pipelines of Bovanenkovo-Ukhta and enlargement of the united gas supplying system for provision of gas supplies to South Stream gas pipeline.
In 2014, Gazprom was going to reduce capital expenses by 10% to $35-42 billion.
Translated by Nadezhda Poltoratskaya

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In H1 2014, Sakhalin Energy increased net profit by 36% by ISA

In H1 2014, Sakhalin Energy, the operator of Sakhalin-2 project increased net profit by 36% to 60.342 billion rubles by ISA.
Revenue increased by 29.7% to 150.405 billion rubles.
The shareholders of Sakhalin Energy are Gazprom (50%), Royal Dutch Shell (27.5%) and Mitsui (12.5%) and Mitsubishi (10%).
In February 2009, they launched within the bounds of the project the Russian first LNG plant with the projected capacity of 9.6 million tons annually.
billion rubles
Translated by Nadezhda Poltoratskaya

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In H1 2014, Gazprom reduced net debt by 20% to 894.5 billion rubles by ISA

In H1 2014, Gazprom reduced net debt by 20% to 894.5 billion rubles by ISA.
As on December 31st 2013, net debt was 1.113 trillion rubles, by 218.251 billion rubles more.

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In H1 2014, Gazprom’s net profit reduced by 22.7% to 450.6 billion rubles by ISA

In H1 2014, Gazprom’s net profit reduced by 22.7% to 450.578 billion rubles by ISA.
Within the period, profit reduced by 21.6% to 465.226 billion rubles.
Profit for the period includes profit of the shareholders and profit of the non-controlled shareholding.
Revenue increased by 11.9% to 2.874 trillion rubles.

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Gazprom reduces profit under IAS by 23%

The net profit of OJSC “Gazprom” under IAS went down by 23% to 450.578 billion roubles in January-June 2014 against the same period last year. It goes from the report of the Russian gas holding.
The total profit, inclusive of uncontrolled shares, made up 465.226 billion roubles. The revenue of Gazprom in H1 made up 2.873 trillion roubles. It is by 12% more than in January-June last year. The financial results on net income turned out to be worse than the expectations of the analysts, who forecasted 484.5 billion roubles of profit, while the revenue is up to the forecast (2.8 trillion roubles).
The operating expenses increased by 31% in H1 and made up 2.249 trillion roubles.

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Rosneft hires London lawyers to challenge the sanctions.

The Russian company "Rosneft" is developing a legal strategy to challenge the sanctions of the West in the European courts, the Wall Street Journal writes, citing the sources familiar with the situation. According to the newspaper, "Rosneft" has hired the London company Zaiwalla & Co., who once successfully defended the interests of one of the largest Iranian banks, Bank Mellat wich was affected by sanctions, RBK informs.
In 2013 the Bank Mellat, whose interests were represented by the Zaiwalla & Co. Company, won two lawsuits in the European courts, trying to challenge the sanctions imposed. The United States and the EU imposed sanctions against a number of Iranian companies for the alleged connection with the Iranian nuclear program.

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Confiscation of Bashneft to enable the disputing of other deals by the FEC

The RBC has managed to get acquainted with the General Procurator’s Office’s claim against AFK Sistema and its subsidiary Sistema-Invest on withdrawal of Bashneft’s shares into federal property.
The General Procurator’s Office requests the withdrawing of almost 82% of Bashneft, now owned by AFK Systema and its subsidiary Sistema-Invest into the federal property. The author of the claim - first deputy general prosecutor Alexander Buksman - refers to 1991, when the law "On the privatization of state and municipal enterprises in the RSFSR" was adopted (3rd July 1991), and to the decision of the Supreme Council of the Russian Federation "On State and Municipal Property in Russia ... " dated December 27th, 1991, according to which enterprises of the fuel and energy sector (FEC) belong exclusively to the federal government.

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