Finance

MGOK is willing to pay 23.8 billion roubles of dividends.

The Board of Directors of the Mikhailovsk GOK (part of "Metalloinvest") at an extraordinary meeting recommended the shareholders to decide on the payment of dividends for the first 9 months worth 3.343 thousand per share.

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Banks give way to the state.

"Bashneft" was allowed to violate the covenants on loans.
"Bashneft", which by mid-December must pass under the control of the state, will be able to avoid problems with creditors. The oil company could trigger the covenants on loans worth almost 90 billion roubles. "Bashneft" yet could not agree only with 5% of the creditors, but the payment of 4 billion roubles in advance should not be a problem for the company. In general, lenders are even happy with the fact that "Bashneft" goes to the state.

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A part of Bashneft’s loans can be recalled ahead of schedule due to the court verdict about returning of the company’s stocks to the state

A part of Bashneft’s loans can be recalled ahead of schedule due to the change of the controlling shareholder, Bashneft tells in the report by ISA.
Due to the verdict of Arbitration Court of Moscow about returning of the company’s stocks to the state, a part of the credits and the loans can be recalled ahead of schedule because of the modification in covenants due to the change of the controlling shareholder.
The total sum of such credits and loans is 4.321 billion rubles.
Translated by Nadezhda Poltoratskaya

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Surgutneftegaz’s preference stocks increase in price by 32%

At the background of rapid ruble devaluation and the lasting oil price stagnation,  Surgutneftegaz’s preference stocks have increased in price by 32% within the latest months, by 3 times more than MICEX index. The currency reserves of the company increase in price, and the investors can await for high dividends.

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Bashneft’s profit grows by almost 40%

Bashneft has published its financial results under IAS for the first third quarter and nine months of 2014.
As the oil company reported, in the first nine months of this year, the net profit of Bashneft increased by 39.6% to 45.425 billion roubles. Earlier, analysts announced their forecast, stated that the company's net profit increased by 43% to 46.54 billion rubles in this period.

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Bashneft reports about possible acceleration of its loan repayments because of change of shareholder

A part of Bashneft’s loans may be claimed prematurely because of breach of covenants due to the change of the controlling shareholder, the company’s report under IAS says.
This may occur as a result of a decision, taken by the Commercial Court of Moscow on the return of the Bashneft’s shares, belonged to Systema and Systema-Invest, to the state, the oil company explains.

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"LUKoil" not to reduce the amount of dividends in 2015.

The Board of Directors of "Lukoil" decided to maintain the dividend in 2015 at the level of 2014, Vagit Alekperov informs. "The payment of dividends at the level of 2014 is provided in the same amount", - he stated and added that the budget of "LUKoil" for 2015 had been drawn up in two scenarios: if the price of oil is at $ 80 and at $ 70 per barrel, the Vesti Economiki website writes.
"At the same time, we hope that in a scenario of $ 80 we will have a free cash flow in the amount of up to $ 1 billion - explains the head of the company. - That is, we believe that the measures that the company has taken to reduce costs, optimize their costs, what we were prepared for the fact that the peak of investment activities implemented in 2013-2014., And putting assets in 2015 gives company, despite the deterioration in the macroeconomic environment, the ability to ensure the stable development of the company, the expectations that are waiting for our shareholders from our activities".

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TMK finished Q3 with net loss

TMK finished Q3 with net loss of $7 million compared to net profit of $60 million for Q2.
In January – September, net profit fell by 77% to $37 million.
Revenue reduced by 7% to $4.5 billion.
Translated by Nadezhda Poltoratskaya
Source: http://www.rosbalt.ru/business/2014/11/21/1340311.html

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Lukoil has agreed the budget for 2015 concerning oil price scenarios of $70-$80 per barrel

Lukoil has admitted the budget for 2015 concerning oil price scenarios of $70-$80 per barrel, the chief of the company V. Alekperov says. The company awaits free cash flow of $1 billion if oil price is $80 per barrel.
Oil production in 2015 can be 85 million tons in 2015, or 102 million tons taking into account the western assets. Investment in 2015 can be $14 billion.
Dividends for 2014 will remain at the level of the previous year. The final dividends for 2013 were 60 rubles per stock.

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Alekperov: Lukoil’s investments to decrease to $14 billion in 2015

Lukoil’s investments will decline to $14 billion in 2015, the company’s president Vagit Alekperov reported.
"Payment of dividends is provided at the level of 2014 in the same amount," - he said to journalists, added that the decision was taken during the Board meeting.

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