Finance

The Ministry of Finance develops the main directions of tax policy for 2014-2016: many tax preferences to be abolished, excises for gasoline to increase

The Ministry of Finance elaborated the main directions of the tax policy for 2014-2016 and introduced them to the government. The main thing is that many tax preferences will be abolished and gasoline excises will increase.
There is some bad news for those who are going to sell an apartment or other real estate. People don’t have to pay taxes for such transactions if they own their real estate for more than three years. However, the Ministry of Finance considers, speculators can obtain a lot due to reselling and proposes to provide no benefits if a seller has something else other than the real estate for sale. I.e. if you sell an apartment and you have a house in the countryside, you have to pay the tax. Though, the tax is paid not from the sum obtained for the apartment but from the difference between the purchase and sales prices.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Shatalov: Profitability of oil extraction will be maintained if MET increases

The Ministry of Finance considers the possible reduction of oil export duty by 5% and simultaneous increase of oil MET by the same amount in 2014. At the same time the Ministry believes that profitability of oil extraction and processing will be maintained, the Minister of Finance, Sergey Shatalov reported.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Bashneft will pay quarterly dividends

The Board of Directors of Bashneft have decided at the session on April 30 to pay dividends at a rate of 24 rubles per stock, by 4 times less than was paid to the shareholders for 2011. They also decided that the  annual shareholders session will be held on June 27 in Ufa in a form of joint attendance. The list of persons able to participate in the session will be compiled on May 15.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

In Q1, Rosneft increased net profit by ISA by 12.8% to 102 billion rubles

In Q1, Rosneft increased net profit by ISA by 12.8% to 102 billion rubles, revenue by 7% to 812 billion rubles that is lower than revenue of 912 billion rubles according to the consensus forecast.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Transneft finds an investment alternative

Transneft proposes oil companies to finance renewal of oil products pipelines systems due to the introduction of a new investment compound to the oil pumping tariff. At the moment there are primary arrangements with Lukoil, other companies to study the possible expenditures. Even if the oil companies agree, some changes to the law are needed for implementation of the ideas of Transneft. The officials support the monopoly, though FAS reports about appearance of “a nontransparent cross-subsidization system” and some sources at the market connect the new complicated scheme with the will of Transneft to maintain the oil pumping tariffs on the background of the threat of their reduction.
Transneft is trying to arrange the financing of expansion of the oil productspipe lines due to increase of the oil pumping tariff, senior vice-President of Transneft Maksim Grishanin reported. The state company proposes the long-term tariff representing the addition to the oil pumping tariff valid for a concrete sector of the main pipelines. It is set for at least three years and its amount is approved by the Federal Tariff Service (FTS) as advised by Transneft and the interested oil company.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

In 2012, Surgutneftegaz reduced its net profit to 180.115 billion rubles by ISA

In 2012, Surgutneftegaz's net profit reduced by 34.5% to 180.115 billion rubles by ISA, compared to 274.09 billion rubles in 2011. Revenue declined by 6.84% to 849.575 billion rubles. Operational expense increased by 14.49% to 619.014 billion rubles. Operational profit reduced by 9.4% to 230.561 billion rubles. Loss in connection with fluctuations in currency exchange rates was 50.46 billion rubles versus profit of 49.319 billion rubles in 2011. Pretax profit reduced by 34.93% to 223.678 billion rubles.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Net profit of SKM Group increases by 34.2% - to 57 million USD in 2012

In 2012 the net profit of Ukrainian financial and industrial group System Capital Management (SKM) made up 459.4 million hryvni (57 million USD) – by 117.2 million hryvni (14.6 million USD) more that the analogous result in 2011, RBC Ukraine reports with reference to the press service of SMK.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Metalloinvest pays off $1 billion syndicated credit earlier

Metalloinvest paid off $1 billion out of $2.150 billion of remaining syndicated credit due to the funds attracted as a result of placing of Eurobonds with 5.625% coupon rate and the paying off period up to 2020.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Sibur reduces the number of independent directors in its Board

Sibur shaholders have elected the new Board of Directors at the annual session, and the number of independent directors is reduced from 3 to 2. They have left the Board the independent director, the Adviser of the President of Rosneft A. Samokhvalov, and P. Maly who was imposed to the post of Sibur CFO before. They were replaced by the director of Themis Holdings Limited I. Tafintsev representing the majority shareholder of Sibur L. Mikhelson, and the executive officer of the holding V. Razumov. They also re-elected to the Board the chief of Sibur D. Konov, the chief of Novatek L.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Sibur will pay dividends for 2012 at a rate of 3.5 rubles per stock

Sibur will pay dividends for 2012 at a rate of 3.5 rubles per equal stock. Dividends will be 7.624 billion rubles without intermediate payment, , and 15.031 billion rubles with dividends for Q1 2012. Sibur allocated 21.8 billion rubles to dividend payment for 2011, i.e. 1,000 rubles per stock, and did not pay dividends for 2010.
Sibur shareholders decided to split up the company’s stocks. One equal stock with face value of 1,000 rubles was converted to 100 equal stocks with face value of 10 rubles. Thus, 21.784 million equal stocks were converted to 2.178 billion stocks.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer