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| Market analysis |
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Oil-sludge-processing industry overview
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.jpg) Three to five percent of all crude oil produced is ultimately unusable. When transported in ships or stored in tanks, sludge settles to the bottom of the vessels and containers. It cannot be drained from the tanks and must be removed and hauled away at considerable expense.
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Russia’s hotel market looks attractive
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.jpg) American tycoon Ronald Lauder has recently issued a statement that he will launch a new hotel chain in Russia. Lauder’s plans include building 18 economy two- and three-star hotels in Moscow. The cost of the project has been estimated at USD 1 billion.
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| Presenting regions |
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Getting ready for Olympics
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.jpg) The electric station at Rosa Khutor that will supply power to Olympic facilities in the Sochi highlands will be operational by the end of 2010. The construction of the 110-kilowatt substation commenced in 2009.
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Altai gaming zone by 2010
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.jpg) The territorial administration of Altai has issued a statement that the first casino in the Siberian Coin Altai gaming zone will be launched before the end of the current year. Hotels are scheduled to open in 2013.
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| Resources |
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Russian-American Innovation Technology Weeks
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.jpg) Mid-Atlantic – Russia Business Council, founded in 1994, is a major non-profit organization in the Mid-Atlantic region that provides information and services related to Russia and the C.I.S. MARBC conducts more than 25 events annually in the United States.
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| Companies |
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BP gets support in Russia
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.jpg) Deputy Prime Minister Igor Sechin expressed his support for BP chief Robert Dudley during his trip to the Russian capital in early August 2010. Mr. Dudley was on the trip together with the retiring company CEO Tony Hayward.
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Yamal LNG to be 49% foreign-owned
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.jpg) Companies from outside of Russia will participate in the Yamal liquefied natural gas project, according to Yevgeny Kot, director for LNG project development for NOVATEK. Russian companies will have a 51-percent stake in the venture.
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Capital outlays for Mechel below USD 1.4 billion
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.jpg) The Russian coal and steel giant Mechel decided to lower its outlays for capital projects to under USD 1.4 billion, according to the company’s Senior Vice President for Finances Stanislav Ploschenko.
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Magnitogorsk Steel Works:a better outlook
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.jpg) Moody’s altered the outlook of the rating for Magnitogorsk Steel Works from Ba3 “stable” to “positive.” The company’s national scale rating is Aa3.ru. The agency’s decision was based on the 2009 performance of the steel company.
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Raspadskaya coal production down 25%
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.jpg) In the first half of 2010, coal company Raspadskaya saw a considerable reduction in production activity following one of the largest mining accidents in Russia. Altogether OJSC Raspadskaya was able to produce 4.778 million tons of raw coal.
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NorNickel shareholders are not at odds
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.jpg) According to Vladimir Potanin, the director of the Interros group, there are no points of contention between the shareholders of Norilsk Nickel. “There are only different approaches,” Mr. Potanin is reported to have said.
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Basic Element: agribusiness up 100%
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.jpg) The agricultural arm of Basic Element, formed after the Russi-Asiatic Investment Company was transferred into the holding group of Oleg Deripaska, plans to register its 2010 profits at RUR 270 million, compared to RUR 143 million in 2009.
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Eldorado’s losses at RUR 15.6 billion
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.jpg) Eldorado, one of the largest retailers of consumer electronics in Russia, did not perform well in 2009, amidst widespread financial problems in the country prompted by the onset of the global economic crisis.
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Gazprom Neft and the city of Moscow to renovate refinery
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.jpg) The City of Moscow together with Gazprom Neft embarked on a project to renovate the Moscow Oil Refinery. In July, officials took part in the symbolic launch of reconstruction works at the refinery’s unit for isomerization of light naphtha.
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Zarubezhneft and Petrovietnam to join efforts
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.jpg) Nikolai Brunich, Director General of Zarubezhneft, and Phug Dinh, the Chief Executive Officer of Petrovietnam, entered into several cooperation agreements for developing cooperation on projects in the petroleum industry.
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Lukoil to keep investment grade
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.jpg) Russia’s private oil company Lukoil will keep its current investment ratings, according to analysts at two credit agencies. In the end of July, Standard & Poor’ announced it intends to reassess the long-term corporate rating of Lukoil, currently held at BBB- with a “negative” outlook.
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| In the news |
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Oil export tariff increased to USD 263.80 per MT
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.jpg) Export tariffs on oil from fields in Eastern Siberia will increase to USD 80.3 per ton from their current level of USD 69.9. Export duties on light oil products were raised to USD 190 per ton effective August 1 (previous tariff was USD 179.9).
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Tax duties for petroleum products result in price increase
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.jpg) The institution of higher excise duties on fuels and lubricants will cause the cost of these petroleum products to rise by 0.4 to 0.6 percent, according to the Minister of Transportation of Russia Igor Levitin.
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Ukrtransnafta reduces oil deliveries
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.jpg) The major operator of oil pipelines in Ukraine Ukrtransnafta (wholly owned by Naftogaz Ukrainy) saw a reduction in the shipment of oil in the first half of 2010 by 25.9 percent to 14.88 million tons, according to the country’s Fuel and Energy Ministry.
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Russia claims U.S. doesn’t adhere to WMD regime
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.jpg) The Ministry of Foreign Affairs of Russia has said that it considers the United States to be in breach of several treaties on the nonproliferation of weapons of mass destruction and arms control.
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Ferrous metals in Russia up 22.8%
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.jpg) In the first two quarters of 2010, the production of ferrous metal roll in Russia was up 22.8 percent according to Federal State Statistics Service. Production results for June reflected a 12.8 percent rise on a year-on-year basis.
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Profit of Lenzoloto up 88 times
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.jpg) Russian company Lenzoloto owned by Polyus Gold registered a net profit of RUR 492.42 million in the second quarter of 2010. In the first quarter, the profit figure was only RUR 3.62 million.
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Telenor’s profits up 400%
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.jpg) Norway’s company Telenor registered a profit of nearly USD 1.5 billion in the second quarter of 2010, which represents an increase of more than 400 percent in relation to the USD 280-million result from the second quarter of 2009.
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TeliaSonera shows good results thanks to MegaFon
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.jpg) TeliaSonera, a Scandinavian mobile holding company, received a boost in its revenues as a result of its acquisition of a stake in MegaFon. The company’s revenues from sales in the second quarter showed an increase of 0.5 percent.
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Net profit of Svyazinvest down in 2009
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.jpg) The holding company Svyazinvest had a net profit of RUR 23.067 billion in 2009 in accordance with International Financial Reporting Standards. The profit was 5.46 percent less than in 2008.
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TV channels see revenue decline 22% during crisis
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.jpg) The cumulative revenue figure for the three largest television stations in Russia (Channel One, VGTRK, and NTV) decreased by 22 percent in 2009. The total figure was down to RUR 52.4 billion, compared to RUR 66.8 billion in 2008.
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Nestle’s profits on the Russian market
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.jpg) The Russian subsidiary of Nestle recorded a profit of RUR 801.9 million from its operations in Russia in 2009. In 2008, the company’s net profit stood at only RUR 270.3 million. At the same time, Nestle has reported that its revenue from sales in Russia went down.
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Revenues of Euroset increase 15.7%
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.jpg) The largest retail supplier of cellular telephones in Russia company Euroset reported that its revenues in quarter 2, 2010 reflected a 15.7-percent growth on a year-on-year basis. In the three months from April to June 2010, the company’s revenues stood at RUR 13.564 billion.
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Real hypermarket chain increases revenue 31%
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.jpg) The German-based retail chain with hypermarket stores spread out across several regions of Russia saw an increase in sales on the Russian market by about 31 percent in 2009.
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Russia continues crop export ban
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.jpg) In early September Russian Prime Minister Vladimir Putin extended Russia’s ban on wheat exports until the harvest of 2011 to ensure the country’s agricultural industry would bounce back from a severe drought and wildfires that destroyed 20 percent of the crop this year.
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| Innovation |
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Glonass satellites: wide use by 2012
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.jpg) The Russian government has initiated the revision of the Glonass satellite program. According to Prime Minister Vladimir Putin, the government is working on a draft of the program up to the year 2020.
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First digital manned Soyuz
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.jpg) The TMA-01M Soyuz craft is the first in the new digital series. In the words of Nikolai Bryukhanov, deputy general designer of the Energia Corporation, the plan in devising the new series of spaceships was to narrow the technology gap.
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| Humanitarian projects |
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Spiritual Diplomacy New Road to Peace
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.jpg) Spiritual Diplomacy attempts to resolve conflicts between nations and within state borders by relying on the peoples’ spiritual values. This may be the only remaining strategy that provides a true key to the survival of the human race.
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| Features |
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Caution: fire danger
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.jpg) Throughout the summer, wildfires burned in many regions of Russia. The smog hovering over Moscow and other cities in central Russia made it difficult for people in the streets to breath.
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Latest news
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source: RIA novosti
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