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Moscow to Keep Sibir Stake
Moscow has no plans to sell its 18 percent stake in domestic oil company Sibir Energy to TNK-BP, Deputy Mayor Vladimir Silkin said, Kommersant reported Monday.
"We had discussions with our fellow shareholder Igor Kesayev, and we decided that our strategy will be to hold onto our packages," Silkin said in article that appeared in Monday's edition.
London's Sunday Times reported that TNK-BP is preparing a ?2.3 billion ($3.39 billion) offer for Sibir, without saying where it obtained the information. (Reuters)
Turkmens Start Probe
Turkmenistan may seek damages after a blast on a gas pipeline cut supplies to Russia last week, Turkmenistan's Foreign Ministry said in a statement posted on the web site of the Turkmen Embassy in Russia on Monday.
President Gurbanguly Berdymukhammedov ordered his government to organize an international probe into the accident, the statement said.
"Decisions will be made on further actions by the Turkmen side, including those connected with compensation of damages caused by the accident," the ministry said in the statement. (Bloomberg)
Producer Prices Down
Russian producer prices, an early indicator of inflation, fell less than expected in March as industrial production slowed and the global economic crisis pushed prices of commodities lower.
The cost of goods leaving factories and mines declined an annual 2.8 percent after dropping 5.7 percent in February, the State Statistics Service in Moscow said Monday. Prices rose 4.1 percent in the month, compared with a revised 2.8 percent increase in February. (Bloomberg)
Gazprom to Fine Ukraine
Gazprom may seek as much as $530 million in fines from Ukraine for failing to import contracted volumes of natural gas in March, Kommersant-Ukraine reported, citing an unidentified Gazprom official.
Gazprom notified Naftogaz Ukrainy that it intended to levy fines at the end of last week, Kommersant said. In March, Naftogaz bought 0.95 billion cubic meters of the fuel compared with 2 billion cubic meters that was envisioned by a January contract. (Bloomberg)
OGK-1 to Cut Investment
OGK-1 plans to cut investments in three new plants by as much as 15 percent, Interfax said, citing an unidentified company official.
OGK-1 needs to invest 83 billion rubles ($2.5 billion) by 2012 to spend on projects at the Kashirsk, Nizhnevartovsk and Urengoi sites, the news agency reported.
The company still lacks 46 billion rubles and will cut planned spending on materials and equipment, Interfax said. (Bloomberg)
Norilsk to Hold Treasuries
Norilsk Nickel suspended a plan to sell treasury shares that it holds to its unit OGK-3, Vedomosti reported, citing unidentified people familiar with the situation.
Norilsk may sell the shares at a later date, the newspaper said. Last year, Norilsk spent 48.4 billion rubles ($1.44 billion) to buy back the shares, which amount to about 4 percent of the company's stock. (Bloomberg)
