Russia 101216 Basic Political Developments
VTB hires three bankers for corporate and investment team
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VTB hires three bankers for corporate and investment teamhttp://www.emergingmarkets.me/2010/12/vtb-hires-three-bankers-for-corporate-and-investment-team/ December 16, 2010 By Ivan Anderzhanov. Russian state-controlled lender VTB has three bankers to supervise corporate clients in its corporate and investment business unit. Nikolay Ustinov, a senior vice president previously at MDM Bank, will work in a department in charge of large customer relationships in such industries as metals, transport, trade and agribusiness. Andrey Pinus, also a senior vice-president formerly at Home Credit & Finance, will supervise VTB branches and sub-offices in Moscow and the Moscow region. Andrey Kuznetsov has also been hired from MDM as head of Moscow and the Moscow region directorate. VTB is combining its corporate and investment banking arms in a bid to extract synergies. For the Recordhttp://www.themoscowtimes.com/business/article/for-the-record/426802.html 16 December 2010 The Moscow city government will spend 200 billion rubles ($6.5 billion) a year on transportation infrastructure starting in 2011, will announce $6 billion of tenders for goods and services next year, and welcomes foreign investors, Mayor Sergei Sobyanin said Wednesday. (Bloomberg) VTB Group hopes to gain control of Bank of Moscow in the first half of 2011, RIA-Novosti reported. (Bloomberg) Tatneft said Wednesday that nine-month profit slumped 35 percent on taxes and foreign exchange losses, with net income falling to 30.4 billion rubles ($989 million) from 46.4 billion rubles, and sales rose 24 percent to 338 billion rubles. (Bloomberg) The inflation rate will be 8.3 percent to 8.5 percent this year, compared with an earlier government forecast for a 7 percent to 8 percent pace, Deputy Economic Development Minister Andrei Klepach said Wednesday. (Bloomberg) DRB-Hicom, a Malaysian auto and financial services group, signed an provisional agreement with KamAZ to assemble and distribute its right-hand drive trucks, the Business Times reported Wednesday. (Bloomberg) Gazprom chief Alexei Miller said a natural gas pipeline to China might cost $14 billion to build, Interfax reported Wednesday. (Bloomberg) Activity in the Oil and Gas sector (including regulatory)Gas transport tariffs to rise 12.5% in 2011 http://www.bne.eu/dispatch_text13888 Troika Dialog December 16, 2010 The Federal Tariff Service (FTS) plans to raise the tariff that Gazprom charges independent producers for gas transportation by 12.5%, an official told Interfax. The final decision will be made on Friday. We and the Street had modeled a 15% increase, in line with the hikes in industrial domestic gas prices next year. The slower increase in transport tariffs would mean a 1.5% accretion in EBITDA for NOVATEK against what we model. For Gazprom itself, the transport tariffs for independent producers are not a core revenue source and therefore largely irrelevant to our estimates. Oleg Maximov 11:02
http://www.interfax.com/news.asp 10:54
http://www.interfax.com/news.asp Turkish, Russian firms sign oil cooperation deal http://www.worldbulletin.net/news_detail.php?id=67452 Calik Holding and Rosneft, Russia's state oil company, have agreed to establish a partnership company for oil trade in Turkey and the Mediterranean. Thursday, 16 December 2010 10:10 Turkey's Calik Holding signed an agreement with Rosneft on Wednesday for cooperation in trade of oil. The agreement was signed after extensive talks at the Ciragan Palace. Chairman of the Executive Board of Calik Holding Ahmet Calik and President of Rosneft Eduard Khudainatov signed the agreement on behalf of their companies. The signature ceremony was attended by Turkish Minister of Energy and Natural Resources Taner Yildiz and Russian Deputy Premier Igor Sechin. Calik Holding and Rosneft, Russia's state oil company, have agreed to establish a partnership company for oil trade in Turkey and the Mediterranean. The new partnership will work for oil trade in the Mediterranean and distribution of oil in Turkey. Calik Energy and Rosneft will also work in selling oil to naval vessels.
Thu Dec 16, 2010 6:18am GMT * Rosneft President Khudainatov says firm undervalued * Needs 2-3 years before attracting strategic foreign partner MOSCOW Dec 16 (Reuters) - Russia's largest state-owned oil producer, Rosneft , is looking to bring on a strategic foreign investor in 2014-15, Rosneft President Eduard Khudainatov told Interfax during a work visit to Istanbul. "The management needs 2-3 years to prepare the company, because we think that today it is three times undervalued," said Khudainatov, who has rarely spoken to the press since taking the reigns at Rosneft in September. Russia is planning to sell 15 percent of Rosneft sometime between 2012 and 2015 as part of a more than $50-billion privatisation drive intended to plug the budget deficit and spur economic growth ahead of the 2012 presidential elections. Rosneft has a new strategic growth plan in the works that the company hopes will raise its value ahead of the 15-percent stake sale, Khudainatov said. To read an interview with Rosneft's vice president, Peter O'Brien, on the company's preparations ahead of the asset sale see [ID:nLDE69P2BT] Khudainatov also told Interfax that Rosneft was not in discussions with mid-size Russian oil firm Bashneft on partnering to develop the giant Trebs and Titov oilfields in Russia's Arctic Yamal Nenets region. (Writing by Jessica Bachman; Editing by Lincoln Feast)
http://www.ukrainianjournal.com/index.php?w=article&id=11662 Journal Staff Report
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