Metalloinvest, Russia Oil and Gas
Metalloinvest denied the information of a possible participation of its owner, A. Usmanov, in Rosneft’s privatization.
This information is false. Last week Znak.com reported referring to an anonymous source of a possible participation of A. Usmanov in the privatization of Rosneft.
The RF Ministry of Industry and Trade completed the list of process equipment, analogues of which are not produced in Russia and the import of which is not subject to value added tax. The new list was approved by Decree №329 of the Russian government on April 9, 2015.
These changes are intended to support the following projects:
The agreement with Metalloinvest was extended for the additional 19 months, until the end of 2016, with MMK – for the additional 12 months, until the end of 2019, with Rosneft – reconsidered and extended until the end of 2016.
Globaltrans Group in 2014 extended the negotiations with Metalloinvest, MMK and Rosneft, the company reports on the results of publishing its IAS report.
“The key service contracts were successfully extended in 2014, on the results of the year over 605 of the group’s net revenue from operations was provided by the long-term service contracts”, is reported.
Globaltrans transports metals, oil and oil products, coal and construction materials. The company’s shares are listed on the LSE. 54.5% of shares are in free circulation, N. Mishim, K. Nikolayev and A. Filatov hold 11.5% each via their special companies, the CEO of the operator S. Maltsev, 5.4%, non-executive director, A. Eliseev – 6.3%. The total park of the group is 65 thousand wagons and 75 locomotives.
Rosneft to supply oil products to a number of leading industrial holding companies that provide import substitutionEdited by Rhod Mackenzie / 2014-12-04 02:49:10
Rosneft has signed a partnership agreement in the field of petroleum products supply with Metalloinvest, SUEK, OMZ and UES FGC, the company reports.
The press release notes that the documents provide for joint research activity of the companies in the development, production and implementation of high-tech lubricants and petroleum products. In addition, it is expected to hold a joint audit of products, aimed at maximizing the efficiency of the use and production of a new line of oil products.
The government may ease operation conditions of foreign state-owned companies in Russia. Until now, they could get in projects of strategic deposits development in the country not more than 25%. Primarily, this liberalization aims to attract investors from China, India and the Middle East. Primarily state-owned companies conduct international expansion just in these countries, and Russia will reorient to partnership with them in condition of conflict with the West over the Ukraine.
The Government has instructed the Ministry of Natural Resources, Ministry of Economy and FAS to consider whether to give foreign investors the opportunity to increase their share in companies, which develop subsoil plots of federal importance (large deposits of oil, gas, gold, nickel, platinum and copper) in excess of the limit, set by the legislation. This topic was raised by CEO of Metalloinvest Andrei Varichev at the Cabinet’s meeting on July 10; he offered to amend the law "in terms of increasing the possibility of the presence of foreign investors – certainly, through consideration by the Government Commission - from 25% to 49%". According to him, such measures are necessary for the development of large deposits, in particular to attract project financing.
Now, according to the federal law 57, there is a special procedure of foreign investments in companies that hold licenses for subsoil plots of federal importance. These companies are considered to be controlled by a foreign investor if it has a share of 25% or more.