Russia 110111 Basic Political Developments
UPDATE 1-Russia's HMS Hydraulic to list in London
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- Bu səhifədəki naviqasiya:
- Russia places new restrictions on frozen poultry use
- Russia Doubles Meat and Poultry Quota
- Russia - US beef quota doubled for 2011
- Russian grocer Magnit Dec sales up nearly 50 pct
- Activity in the Oil and Gas sector (including regulatory)
- Russian gas price for Ukraine to rise in Q1, 11
- Crude oil delivered to China from Russia through pipeline
- LUKoil Moving Toward Norway
- Nabucco, South Stream Can’t Converge, Eni Chief Tells La Stampa
- Nabucco to merge with South Stream
- Gazprom Indias GSPL to buy 0.3 mln T LNG from Russia
UPDATE 1-Russia's HMS Hydraulic to list in Londonhttp://in.reuters.com/article/idINLDE7090CO20110110 Mon, Jan 10 2011 * Pump manufacturer to sell new and existing shares * Listing to raise around $500 million - source (Adds detail, background) LONDON, Jan 10 (Reuters) - Russian pump manufacturer HMS Hydraulic Machines and Systems Group is planning an initial public share offer in London, the company said on Monday, aiming to raise around $500 million. The group, which provides pumps and hydraulic systems for the oil, gas, power generation and water utility sectors in Russia and the Commonwealth of Independent States, said the offering would include both new and existing shares. The listing, set to be the first London float of 2011, aims to raise around $500 million, a source close to the deal said. Companies based in fast growing economies, particularly those with links to the natural resources sector, are expected to be a key driver of European fundraising activity this year. [ID:nLDE6BJ1LK] HMS, whose projects have included providing pumps to the Vankor oil field in Russia, had revenues of 16.3 billion roubles ($530 million) in the nine months to Sept. 30 last year and made a net profit of 1.1 billion roubles. JP Morgan, Morgan Stanley and Renaissance Capital are joint global coordinators and joint bookrunners for the offering. ($1=30.77 roubles) (Reporting by Kylie MacLellan; Editing by Greg Mahlich) Russia places new restrictions on frozen poultry usehttp://poultrymed.com/Poultry/Templates/showpage.asp?DBID=1&LNGID=1&TMID=178&FID=871&PID=0&IID=11714 10 January, 2011Russia’s Ministry of Justice registered Rospotrebnadzor’s Amendment Number 21, which imposes additional restrictions on the use of frozen poultry meat for further processing, according to a December 29 Foreign Agricultural Service GAIN Report from Moscow, states the Jan. 7 edition of the National Chicken Council’s Washington Report. Instead of restricting all frozen poultry meat for human consumption or for further processing which was originally proposed by the Russian Ministry of Health, Russia’s new requirements will limit its prohibition on the use of frozen poultry meat for further processing to the following: Baby food; dietetic nutrition (invalid and protective diets); specialized food products for pregnant and nursing women; delicacies (pastrami, jerky, and smoked-dried products); chilled, natural half-finished products; and food products not thermally processed. The new restrictions became effective on Jan.1. On Jan. 1, 2010, Russia had imposed a prohibition against using frozen poultry in manufacturing baby food, dietetic, nutrition, and specialized food products for pregnant and nursing women (Meat & Poultry).
This increase in US quota will result in significant reductions for "other countries". The poultry TRQ has been reduced to 350,000 MT and narrowed in product scope, and will not have country-specific allocations in 2011. Fresh beef, pork, and pork trimming TRQ remain unchanged from 2010. MED will distribute the remaining TRQ quantities to importers by April 15, 2010. “The American Meat Institute would like to thank Ambassador Siddiqui and the staff at the Office of the United States Representative (USTR) for their efforts in negotiating this increased allocation, which represents more than an estimated $75 million in additional 2011 frozen beef exports,” said AMI President and CEO J. Patrick Boyle.
Russia’s Ministry of Economic Development has announced the initial distribution of 2011 tariff-rate quota quantities to importers and the quota allocation for U.S. frozen beef jumped to 41,700 metric tons, from 21,700 metric tons, according to the American Meat Institute. The increase for U.S. frozen beef comes at the expense of an equivalent reduction to “other countries,” AMI said in a news release. Meanwhile, the poultry tariff-rate quota has been reduced to 350,000 metric tons and narrowed in product scope, and will not have country-specific allocations in 2011. Russia has said much in recent months about the country’s goal of growing its domestic poultry supply. Fresh beef, pork, and pork trimming tariff-rate quotas remain unchanged from 2010. The Russian economic development agency will distribute the remaining TRQ quantities to importers by April 15, 2010. “AMI would like to thank Ambassador Siddiqui and the staff at the Office of the United States Trade Representative for their efforts in negotiating this increased allocation, which represents more than an estimated $75 million in additional 2011 frozen beef exports,” said AMI President and CEO J. Patrick Boyle. Russian grocer Magnit Dec sales up nearly 50 pcthttp://in.reuters.com/article/idINLDE70A01H20110111 11:12am IST MOSCOW, Jan 11 (Reuters) - Russia's largest food store chain Magnit (MGNTq.L: Quote, Profile, Research) said on Tuesday its December sales grew 49.65 percent, year-on-year, as it continued to ramp up store openings. Sales totalled 28.7 billion roubles ($932.7 million) in December, bringing full-year 2010 results to 236 billion roubles -- an increase of 39.2 percent on 2009. The company opened 189 new stores in the final month of last year, it said in a statement, adding that its chain of neighbouring budget shops and hypermarkets now comprised 4,055 stores. (Reporting by Maria Kiselyova; Editing by Dhara Ranasinghe) ($1=30.77 Rouble) For the Recordhttp://www.themoscowtimes.com/business/article/for-the-record/428107.html 11 January 2011 Rosneft plans to boost investments to 415 billion rubles ($13.6 billion) in 2011, Interfax reported, citing an unidentified person close to the company’s board. (Bloomberg) Russia, the world’s largest oil producer, set a post-Soviet record for yearly crude output in 2010, rising 2.2 percent to 10.15 million barrels a day, even as the country’s production in December slipped from the previous month. (Bloomberg) Russian emigre Alexei Koval has pleaded guilty to securities fraud charges for conspiring with a former executive director at UBS Securities to earn more than $870,000 through inside trades, and agreed to serve up to 3 years in prison. (Bloomberg) Russia and Hungary remain far apart over the future of Surgutneftegaz’s 21.2 percent stake in Hungarian refiner Mol Nyrt, the online news portal Index reported, citing Development Minister Tamas Fellegi, with the next round of negotiations between the two parties taking place later this month. (Bloomberg) Diamond monopoly Alrosa plans to cut debt to “less than $3 billion” in 2011 as it boosts sales, the company said at the end of December on its web site, with sales of rough diamonds probably rising to $3.53 billion. (Bloomberg) The country may sell as much as $64 billion of domestic and foreign debt in 2011, including 1.74 trillion rubles ($57 billion) of domestic notes and $7 billion of foreign-currency bonds, the government said late December on its web site. (Bloomberg)
http://www.interfax.com/news.asp 09:54 Oil production in Russia up 2.2% in 2010 http://www.interfax.com/news.asp Regulator to offer over 200 oil and gas deposits in 2011 http://www.rbcnews.com/free/20110111105532.shtml RBC, 11.01.2011, Moscow 10:55:32.The federal agency for subsoil resources (Rosnedra) has published a forecast regarding potential auctions of hydrocarbon reserves in 2011, the RBC Daily newspaper reported today. The list includes 203 oil and gas fields with the total deposits estimated at 40.9m tonnes of oil. At the same time, only about 50 of them have been explored. Meanwhile, the regulator is poised to auction off deposits having up to 5m tonnes of oil, whereas strategic deposits will be offered through tenders. The agency's plans for 2011 currently look somewhat less aspiring that last year's. According to the publication, the agency held 288 auctions and tenders in 2010, of which less than 50 were acknowledged as valid. Users paid around RUB 9bn (approx. USD 297m) to the federal budget for the right to develop deposits. The publication also indicated that this year's main interest will be drawn to the tenders rather than auctions. Licenses for the development of several deposits of federal importance are expected to be offered through tenders.
KIEV Jan 10 (Reuters) - The price for Russian gas imported by Ukraine will rise by 4.7 percent to about $264 per 1,000 cubic metres (tcm) in the first quarter this year, Interfax-Ukraine news agency quoted a government source as saying on Monday. Ukraine bought Russian gas at about $252 per tcm in Q4, 2010. Independent analysts said last month that Russian gas prices were likely to rise to an average of $280-$290 per tcm in 2011 due to a jump in oil prices. In line with a 10-year deal between Ukraine's energy firm Naftogaz and Russian gas giant Gazprom GASZP.MM, gas prices are reviewed every quarter taking into account the price of crude oil and oil products. But Ukraine's government has said it wants to cut prices as market realities have changed. [ID:nLDE69K1OQ] Russia has said it could give Ukraine a discount if it gets a stake in its gas pipeline network -- a trade Kiev has been so far reluctant to make but one which, according to analysts, is now seen as possible. [ID:nLDE69P1ZR] Ukraine tranships 80 percent of Gazprom gas bound for Europe. A deal last April between Ukraine and Russia already gave Kiev a gas price discount in exchange for an extension of a lease for the Russian navy in a Ukrainian Black Sea port. [ID:nLDE63Q0NL] (Writing by Pavel Polityuk; editing by James Jukwey)
13:29, January 11, 201Workers inspect PetroChina oil tanks in Daqing, northeast China's Heilongjiang Province, Jan. 10, 2011. Some 390,000 tonnes of crude oil have been delivered to China as of 22 p.m. Monday through an oil pipeline linking Russia's far east and northeast China, since its began operating in Jan. 1, 2011. The pipeline which originate in the Russian town of Skovorodino in the far-eastern Amur region, enters China at Mohe and terminates at Daqing, both in northeast China's Heilongjiang Province. The 1,000-km-long pipeline will transport 15 million tonnes of crude oil from Russia to China per year from 2011 until 2030, according to an agreement signed between the two countries. Some 72 kilometers of the pipeline is in Russia while 927 km of it is in China. (Xinhua/Wang Jianwei) LUKoil Moving Toward Norwayhttp://www.themoscowtimes.com/printhttp://www.themoscowtimes.com/business/article/lukoil-moving-toward-norway/428080.html 11 January 2011 By Anatoly Medetsky LUKoil is applying for permission to operate in Norway as the company looks to expand outside Russia, where high taxes and limited access to new fields have bogged down the oil industry.
The application, filed at the end of last year, was general and not for any specific field, said the spokeswoman, Eldbjorg Melberg. Calls to LUKoil's press service went unanswered Monday, which was a day off in Russia. But LUKoil has a long record of enthusiastically pursuing projects overseas, having built up the most foreign assets of all domestic oil companies. “Compared with the other resource-rich countries, Norway is considered the most attractive because of the attitude from the state and its relations with businesses,” said Shamil Yenikeyeff, a research fellow at Oxford Institute for Energy Studies. The Norwegian Petroleum Directorate and another government agency, the Norwegian Petroleum Safety Authority, have no deadlines for considering applications, but officials usually require at least two months to come to a conclusion, Melberg said by phone from Stavanger, Norway. The agencies then report their recommendations to the Petroleum and Energy Ministry, which makes the ultimate decision, she said. LUKoil's application came in just before Christmas, according to a report in Norway's Teknisk Ukeblad magazine last week. The petroleum directorate usually evaluates a company from a geological prospective, while the petroleum safety authority scrutinizes a company's competence in the areas of health, safety and environment, Melberg said. Norway has pre-qualified such major international industry players as France's GdF, Austria's OMV, Canada's Petro-Canada and Germany's E.On Ruhrgas since it introduced the procedure in 2002. Yenikeyeff predicted success for LUKoil as well. “They have experience,” he said. “They shouldn't have problems.” Russia and Norway showed goodwill in September when they signed an agreement to end a 40-year dispute over the Arctic borderline in the Barents Sea — an area that may have sizeable oil and gas reserves. Norwegian government-controlled Statoil won the competition in 2007 to join Gazprom in the development of the huge Shtokman field in the Barents Sea. LUKoil also has ties with Statoil as they are developing Iraq's major West Qurna-2 deposit after winning a bid in December 2009. A Statoil spokesman didn't respond to an e-mail — sent Monday afternoon — asking if the companies planned any joint projects in Norway. LUKoil finished a production unit at its Nizhny Novgorod refinery, making it the first of its four Russian refineries to produce Euro-4 standard gasoline. The catalytic cracker raises total gasoline output at Nizhny Novgorod by 78 percent to 3.2 million tons annually, the company said in a statement. Of that, about 1.4 million tons will be at least Euro-4 standard, a spokesman said. |
Monday, January 10, 2011 - 12:10 PM