NEFTE Compass articles from April 2003

NEFTE Compass archives from April 2003

Relative Merits: Russia And The US Seek To Reconcile Mixed Feelings.
April 1, 2003... Differences over Iraq have put relations between the US and Russia in a state of high tension, not reached since the bombing of Kosovo four years ago. Despite the tough talking, however, both sides are trying to safeguard the achievements...

Mixed Blessing: Siberian Light Lives To Fight Another Day.
April 1, 2003... A firestorm of protest has led the government to seek a compromise on its plans to mix Urals blend crude with the Siberian Light that it sends to Tuapse. National pipeline operator Transneft has already begun mixing Urals into the Siberian...

Hard Knocks: Khristenko Deals A Blow To PSAs.(Viktor Khristenko)
April 1, 2003... In a blow to Royal Dutch/Shell, Deputy Prime Minister Viktor Khristenko has announced that the Sakhalin offshore projects will remain subject to Russia's anti-monopoly legislation. Formally, this means that the Russian government intends to...

Warm Front: Russia Targets Closer Energy Ties With Japan.(Brief Article)
April 1, 2003... The Russian Energy Ministry has formulated an official 10-year program outlining cooperation between the Japanese and Russian energy sectors. The plan envisages continued Russian collaboration with Japan on the Sakhalin-1 and Sakhalin-2...

On The Road: Lukoil And Gazprom Sign Landmark Gas Deal.(Nakhodkinskoye gas field)
April 1, 2003... Oil major Lukoil and gas monopoly Gazprom have signed an important cooperation agreement for gas supplies from the Nakhodkinskoye gas field in the far northern Yamal-Nenets autonomous region. In the absence of a major strategy to liberalize the...

Clouded Issue: Lukoil Deal Leaves Urals Energy Fate Uncertain.
April 1, 2003... A deal by Lukoil to purchase the upstream assets of Urals Energy in the northern Komi Republic has left the future of the group hanging in the air. Urals Energy CEO Williams Thomas earlier said the company was not going to leave Russia or...

Lucky Break: Ex-Rosneft Man Survives Gangland Shooting.(Gadzhi Makhachev)(Brief Article)
April 1, 2003... A gangland shooting has left wounded parliamentary deputy and former oilman Gadzhi Makhachev. Makhachev was leaving Dagestan State University in Makhachkala when a gunman fired on him. His life was saved by a call on his mobile phone. Just...

Moving In: Slavneft Looks For Control Packet Of Belarus Refinery.(Mozyr refinery)(Brief Article)
April 1, 2003... In a bid to gain control over the 240,000 b/d Mozyr refinery, Slavneft has asked the Belarus authorities to allow it to raise its stake in the plant. Both Slavneft and the Belarus government hold about 43% of the refinery's shares, with...

King Of The Castle: Lukoil Sets Out The Strategy For Russia's No. 1.(Leonid Fedun)(Interview)
April 1, 2003... Lukoil has repelled a challenge from Yukos to remain Russia's biggest oil producer, says Leonid Fedun, Lukoil's vice president on strategic development and securities, who disagrees with Energy Ministry statistics putting Yukos ahead. In a...

Russian Crude Loading Programs For April 2003.
April 1, 2003... Novorossiysk Crude Loading Program For April 2003

East Germany: Gazprom Eyes Gas Distributor.(Verbundnetz Gas)(Brief Article)
April 1, 2003... Russian gas monopoly Gazprom is looking to boost its profitability by accessing the German retail gas market directly. The gas giant is considering teaming up with Germany's Wintershall to buy a 26.6% stake in eastern German gas supplier...

Hungary/Slovakia: Mol Finalizes Purchase of Slovnaft.(Mol Rt; Slovnaft Bratislava)(Brief Article)
April 1, 2003... Hungarian oil and gas group Mol has finalized the majority takeover of the lone Slovak refiner Slovnaft, increasing its stake to 70% in a deal valued at $360 million in cash and shares (NC Mar.27,p9). The deal ran into last-minute...

Kazakhstan: New Pipeline Opens Export Options.(Brief Article)
April 1, 2003... A new pipeline has come on stream that will open up new export options for oil producers in the northwest Aktyubinsk region that have had to rely on rail shipments to get their crude to market. It also has a future role to play in any moves to...

Kazakshtan: Giffen Arrest Overshadows US Oil Cooperation.(Giffen, James)(Brief Article)
April 1, 2003... The arrest in the US of James Giffen, a former key advisor to President Nursultan Nazarbaev, on charges of bribing senior Kazakh officials, could prove a setback for recent moves by the US to step up energy cooperation with Kazakhstan. US...

Bash-o-Rama: Minority Shareholders Seek Changes At Bashneft.(Brief Article)
April 1, 2003... In an attempt to bring greater transparency to Bashneft, the national oil producer of the autonomous republic of Bashkortostan, minority shareholders have nominated two independent directors for the company's board. Bermuda-based minority...

To The Rescue: Yukos Gets Mazeikiu On Road To Recovery.(Mazeikiu Nafta, Yukos Oil Co.)
April 1, 2003... Lithuania's Mazeikiu Nafta has found that it pays to cooperate with Russia. The Yukos-controlled company reduced its net loss in 2002 by 58% to $31 million from the previous year, in audited accounts prepared according to US GAAP standards. ...

Equities And Currencies.(Brief Article)
April 1, 2003... Share Prices Closing On April 1, 2003

Crude Oil: Urals Showing An Upside Bias.(Brief Article)
April 1, 2003... Oil markets continued to be in thrall to headline writers with May Brent futures trading a $2.16 range over the six-day reporting period. Prices firmed on the continuing outage of some 800,000 b/d of Nigerian crude as a result of ethnic strife...

Products: Northwest And Med Gas Oil Levelling.(Northwest Europe, Mediterranean)
April 1, 2003... As shipping loosens up, gas oil differentials have fallen to parity levels in Northwest Europe and the Mediterranean. Fuel oil prices have moved in the other direction on the back of crude. Ukraine has slapped a temporary ban on products...

Trial Run: Giffen And Co. To Face The Music Over Kazakh Charges.
April 9, 2003... Oil companies in Kazakhstan are still digesting the indictments handed down in early April by a New York judge against two prominent players in the country's oil bonanza: the former head of trading at Mobil Oil, J. Bryan Williams, and his close...

Fast Track: BP Sees 10% Production Growth For TNK Venture.(British Petroleum Company PLC)(Tyumenneft)
April 9, 2003... The joint venture of BP and Tyumen Oil Co. (TNK) will be fully operational from the day the deal is completed in the summer, with 10% production growth seen in the first year and major aspects of future development already decided, according to...

China Doll: TNK Sends Crude VLCC To China.(very large crude carrier)
April 9, 2003... Tyumen Oil Co. (TNK) is branching out in new directions to market crude, sending a cargo to China and joining Lukoil as one of the few Russian oil companies to tap Asian markets with long-haul shipments. TNK is making the shipment in a...

Deals On Wheels: TNK Hungry For More Farm-Ins.(Tyumenneft)(Brief Article)
April 9, 2003... Tyumen Oil Co. (TNK) is on the verge of signing joint venture deals with two Western oil companies -- a US independent and a European integrated company -- to develop medium-sized greenfield projects in Western Siberia, according to Stan...

London Gaffe: Rosneft President Protests At UK Airport Search.
April 9, 2003... A controversy has blown up after the president of Russian state-owned oil company Rosneft, Sergei Bogdanchikov, refused to enter the UK after being thoroughly searched on arrival. Bogdanchikov had traveled to London to take part in the Russian...

Russian Reserve: National Reserve Could Only Be Commercial.(Brief Article)
April 9, 2003... Russia's Energy Ministry has sent a letter to the government in which it admits that a national strategic petroleum reserve could be set up only on a commercial basis. The conclusion was reached by a special working group set up by the...

Green Light: Exxon Gets Go-Ahead For Sakhalin-1.
April 9, 2003... Exxon Mobil's Sakhalin-1 oil and gas venture took a big step forward last week after a group of representatives from the Russian federal and regional governments approved the project's development program and investment plan. The approved...

Sitting Pretty: Murmansk Is Favored For LNG Exports.(Brief Article)
April 9, 2003... Russia's ice-free port of Murmansk on the Kola peninsula is emerging as the favored location for a liquefied natural gas (LNG) plant to be built with an eye to supplying the US market. Leonid Fedun, Lukoil vice president for strategic...

Rival Bid: Rosneft Bid Marks Setback For Total.(TOTAL S.A.)
April 9, 2003... Total Fina Elf's plans to expand its presence in Russia could be set back if state-owned Rosneft succeeds in its plan to buy Anglo Siberian Oil. Rosneft on Apr. 4 made a cash offer for the existing and planned share capital of...

Shipping Out: Russia To Ramp Up Crude Deliveries To Ukraine.(exports)(Brief Article)
April 9, 2003... Russia's second-quarter schedule for crude exports to Ukraine has been increased by 18% from the first-quarter schedule to 5.65 million metric tons (455,000 b/d). Planned crude shipments to Belarus are set to rise by 9% to 3.5 million tons...

Top Dog: Germany Sucks In More Russian, Caspian Crude.(Brief Article)
April 9, 2003... German crude oil import data for the first two months of 2003 continues to show continued growth in imports from Russia and Caspian states. Russia was the biggest supplier, delivering 670,000 b/d, up 1.5% from the first two months of 2002....

Station Master: Lukoil Builds Northern Export Scheme.(facilities, reloading station )(Brief Article)
April 9, 2003... Facing oil export infrastructure constraints, Lukoil is developing an alternative scheme to get its incremental crude output to world markets. The company is building a reloading station in the Komi Republic, northern Russia, for completion in...

Go West: Lukoil Taps US Expertise On Associated Gas.(Syntroleum Corp.)(Brief Article)
April 9, 2003... As independent producers begin to play a more important role in Russia's gas industry, and Russian oil majors try to increase their presence in the natural gas market, Lukoil has turned to the West to get expertise on how to better utilize its...

Equal Opportunity: Products Exports Set For Shakeup.
April 9, 2003... The Energy Ministry is gunning to inject some transparency into the murky world of oil products exports. The ministry wants to set the rules for transporting oil products by pipelines operated by state company Transnefteproduct, much in the...

Light Show: Saga Over Tuapse Draws To A Close.(Crude loadings)(Brief Article)
April 9, 2003... Crude loadings out of Tuapse will not rise in volume as a result of the decision to mix Urals crude into the pipeline running to the Black Sea port, but the sulfur content will nearly double to 0.65%. Additional crude volumes will simply be...

Events.(Brief Article)(Calendar)
April 9, 2003... CIS Oil & Gas Transport & Supply, Moscow, Apr. 23-24, EuroForum, www.ef-international.co.uk 1st International Gas Forum/Gas of Russia 2003, Moscow, Apr. 28-29, Oil & Gas Vertical, www.gasforum@ngv.ru Caspian & Black Sea Oil & Gas...

Revised Russian Crude Loading Programs For April 2003.
April 9, 2003... Revised Novorossiysk Crude Loading Program For April 2003

Georgia: US Agency Buys Into Batumi Port.(Brief Article)
April 9, 2003... Naftrans, the London-based parent of Alegratrans, the company that owns the Black Sea Batumi oil terminal, has found a new equity partner in Great Circle Capital, a private investment fund majority owned by the US government's Overseas Private...

Turkmenistan: India Invited To Join Gas Pipeline Party.(Brief Article)
April 9, 2003... Turkmenistan, Afghanistan, and Pakistan have formally invited India to participate in their central Asia gas pipeline project, the Asian Development Bank says. The letter of invitation was extended after a meeting this week in Manila of oil...

Kazakhstan: Hurricane Changes Name To PetroKazakhstan.(Hurricane Hydrocarbons Ltd.)(Brief Article)
April 9, 2003... Hurricane Hydrocarbons, the Canadian minnow that has become a bellwether for foreign investment in Kazakhstan, is changing its name to PetroKazakhstan. The Calgary-Alberta based company plans to ask shareholders to approve the name change...

Azerbaijan: Lukoil Bolsters Yalama Stake, Mends Fences.(investment contract)(Brief Article)
April 9, 2003... Russia's Lukoil has increased its stake in the Yalama/D-222 Block in the Azeri sector of the Caspian shelf from 60% to 80%. Azeri state-owned Socar reduced its shareholding in the project to 20%. The agreement was signed on Apr. 4 during a...

Fat Cats: Transneft Eyes $ 1 Billion Loan For BPS.(Baltic Pipeline System )(Brief Article)
April 9, 2003... National pipeline operator Transneft looks set to get backing from Russia's Central Bank to finance expansion of the Baltic Pipeline System (BPS). According to a Transneft official, the Central Bank has agreed to lend the operator up to $1...

Indebted: Rosneft Renegotiates To Avoid Default.(Brief Article)
April 9, 2003... State-owned Rosneft has avoided a technical default on its debt by renegotiating with its eurobond holders a restrictive covenant governing the terms of the bond, which limited the company's total debt to $1.25 billion. Rosneft breached...

Equities And Currencies.
April 9, 2003... Share Prices Closing On April 8, 2003

Crude Oil: Syrian Cuts Spur Urals Buying.(Brief Article)
April 9, 2003... Syria as good as admitted it had been illegally importing Iraqi oil when state market Sytrol this week notified lifters of a 40% cut in export volumes for full-year 2003, effectively halving exports from now on. Refiners hunting down...

Products: Differentials Fall As Crude Volatilty Slows Trade.(fuel oil prices)(Brief Article)
April 9, 2003... Russian gas oil trade has been thin with dealers hesitating to take positions because of volatility in crude futures. Differentials have fallen from last week's levels, as shipping rates continue to decline and no arbitrages have opened. Fuel...

Up We Go: Transneft Hikes Pumping Tariffs.(Brief Article)
April 16, 2003... Russia is set to raise its pipeline tariffs by an average of 0.63% to help state pipeline operator Transneft to service credits that it plans to raise to finance the expansion and maintenance of its sprawling system. The increase, which...

Long Term: Lukoil Sets Out 10-Year Targets.(Brief Article)
April 16, 2003... Lukoil plans to invest $19 billion to increase its oil production to 110 million metric tons (2.2 million b/d) by 2010-12, under a 10-year strategic development program approved by the company's board on Apr. 16. Lukoil also aims to hike...

Turkey Shoot: TNK Targets Turkish Refining Sell-Off.(Tyumenneft, Tupras)(Brief Article)
April 16, 2003... Tyumen Oil Co. (TNK) has set its sights on refining assets in Turkey, after TNK chairman Viktor Vekselberg held talks with Turkish Prime Minister Tayyip Erdogan to discuss privatization opportunities. The Turkish government plans to sell...

Lithuania: Tanker Shortage Hits Klaipeda Exports.(Klaipedos Nafta)(Brief Article)
April 16, 2003... After handling record exports in 2002, Lithuania's oil products export terminal operator Klaipedos Nafta (KN) has been forced to cut transshipments due to a shortage of tankers. In March Klaipeda cut its transshipment volumes to 681,100...

Hardheaded: Transneft Offers To Resolve Ventpils Dispute.(Ventspils Nafta)(Brief Article)
April 16, 2003... Russian pipeline operator Transneft has offered to invest $143 million to fix the technical glitch that it claims is preventing it from shipping crude to Latvia's Ventspils export terminal. However, Transneft would only make the investment in...

Skates On: Surgut Sets Tight Deadline For Refining Upgrade.(Surgutneftegaz Joint Stock Co.)
April 16, 2003... As part of a strategy to tackle rampant growth in crude production, Surgutneftegas is launching a $1.1 billion investment program to expand its oil processing and oil products transshipment facilities. The oil major is to build a $700...

Turkmengusher: Turkmen Strongman Ties Gas Future To Russia.
April 16, 2003... After years of procrastinating, the president of Turkmenistan, Saparmurat Niyazov u a man with a penchant almost second to none for erecting statues of himself u has decided to throw his lot in with Russia and sign a far-reaching 25-year...

Baywatch: Alliance To Build Oil Terminal In Ukraine.(Alliance Group)(Brief Article)
April 16, 2003... Russian independent Alliance Group, operator of the 140,000 b/d Kherson refinery in Ukraine, has announced plans to build a terminal in the Kherson bay in the Black Sea for reloading oil and refined oil products onto tankers. Alliance...

Kazakhstan: Nelson Resources Shares Out The Spoils.
April 16, 2003... Baltabek Kuandykov, president of Kazakh oil producer Nelson Resources, has increased his interest in the company to around 22% by buying shares from the other two main shareholders, Central Asian Industrial Holdings (CAIH) and Energy...

Kazakhstan: Third CPC Shipper Set To Embark.(Caspian Pipeline Consortium)(Brief Article)
April 16, 2003... Embamunaigas, a subsidiary of Kazakh state-owned Kazmunaigas (KMG), may finally become the third exporter to use the Caspian Pipeline Consortium (CPC) route, after signing a transportation agreement. KMGAEs trading house is due to start...

Romania: Russians Eye Petrom Privatization.
April 16, 2003... Russian Prime Minister Mikhail Kasyanov has given his backing to Russian companies that want to take part in the privatization of RomaniaAEs largest company, oil and gas holding Petrom. Romania, which holds 93% in the company, plans to sell...

Kazakhstan: Caspian Port Repairs Could Impact Exports.(Brief Article)
April 16, 2003... Major repairs are being carried out on two oil berths at the Caspian port of Aktau that could impact crude and product shipments over the coming months. Shipping sources say the closure of Berth 4, an outlet for heavy Buzachi and other...

Shell Winds Down In Ashkhabad.(Royal Dutch-Shell Group of Cos., Turkmenistan)(Brief Article)
April 16, 2003... Royal Dutch/Shell is to scale back staff at its office in Ashkhabad, though it intends to keep a foot in the door of Turkmenistan, which boasts some of the largest gas reserves in the world. "Shell is keen to move on its strategic alliance...

Rumor Mill: Takeover Talk Gives Russians Reason To Speculate.
April 16, 2003... The Russian equities market has been pulled to and fro by takeover rumors, as trading floors around Moscow buzzed with gossip. Speculation covered everything from a foreign takeover of Surgutneftegas to Sibneft selling out to a foreign...

Equities And Currencies.
April 16, 2003... Share Prices Closing On April 15, 2003

Crude Oil: Volatility Comes Down To Earth.
April 16, 2003... The feverish volatility that characterized oil markets before the war on Iraq has fallen in a manner not unlike that of Saddam Hussein's statue u reluctantly, but in the end decisively. Prior to the US army's arrival in Baghdad, front-month...

Products: Market Breaks Early For Easter.(fuel oil, gas oil)(Brief Article)
April 16, 2003... Russian gas oil and fuel oil trade has been anemic with neither buyers nor sellers willing to commit themselves. Russian gas oil shipments out of the Baltic Sea ports rose by 201,000 metric tons last week to 715,000 tons. Ventspils loaded...

Cashing Out: Sibneft Shareholders Cash Out In Merger With Yukos.(YukosSibneft Oil Co. merger increases share rate)
April 23, 2003... The announcement that Russian majors Yukos and Sibneft have agreed in principle to merge into one of the world's top oil producing companies could indicate that some Sibneft shareholders close to former Russian president Boris Yeltsin's inner...

Backing Up: Russia Changes Course To Support Murmansk Project.
April 23, 2003... The Russian government has given its backing to the project to build a new crude pipeline and export terminal at Murmansk, which would create a new deepwater outlet for long-haul oil deliveries mainly to the US. After its meeting last...

Marathon Man: Marathon To Buy Khanty Mansiisk Oil Co.(Brief Article)
April 23, 2003... US Marathon has signed a deal to purchase Khanty-Mansiysk Oil Co. (KMOC) for $275 million. The price includes taking on all of the Russian producer's debts. Marathon concluded the deal with the controlling shareholders of KMOC. However, it...

Firesale: Zarubezhneft To Hit The Block.
April 23, 2003... In a surprise move, the government has decided to privatize Zarubezhneft this year, selling up to 50% of the company, which specializes in overseas oil and gas projects. The government had not planned to sell off Zarubezhneft so soon, but...

Best Offer: Rosneft Closes In On Siberian Prize.
April 23, 2003... The board of UK-based Anglo Siberian Oil has recommended that its shareholders accept an offer from Russia's Rosneft to buy 100% of the company for $72.6 million (NC Apr.10,p5). Assuming the deal goes through, Rosneft would get control of...

Heavy Duty: Ministry To Raise Crude Production Tax.(Brief Article)
April 23, 2003... The Finance Ministry has proposed a 5% increase in the unified production tax -- a tax that oil companies pay based on their crude output -- from 340 rubles ($10.90) per metric ton to 357 rubles/ton ($11.45). The government predicts that...

Hard Line: Japan Lobbies Harder For Pacific Line.
April 23, 2003... Japan is stepping up its lobbying efforts to convince Russia to build a pipeline to the Pacific port of Nakhodka. Moscow, however, now appears to be leaning toward an alternative scheme to build a line to China. Transneft president Semyon...

Even Keel: Seaborne Crude Exports Flat In May.(Brief Article)
April 23, 2003... Russia is set to keep seaborne crude exports on an even keel in May from the previous month. In terms of volumes, the port schedules issued so far look nearly identical to the April programs (see page 6). The loading schedule for Tuapse has...

Francogaz: France Extends Gazprom Supply Contract.(Gazprom Russian Joint Stock Co.)(Brief Article)
April 23, 2003... Gazprom has signed a new agreement to extend the supply of Russian natural gas to Gaz de France (GdF) for seven more years until 2015. It extends an existing GdF purchase contract for 8 Bcm/yr. In 2002, Gazprom delivered around 12 Bcm of...

New Faces: TNK-BP Sets Up Management Structure.
April 23, 2003... The management structure of TNK-BP is falling into place as the new venture between BP and Tyumen Oil Co. (TNK) gears up to start operations, probably in June. TNK-BP will announce 60 appointments by the end of next week, TNK-BP president...

Streamlining: TNK And Sibneft Settle Up Over Onaco.(Orenburg Oil Co)(Tyumenneft)(Brief Article)
April 23, 2003... Sibneft and Tyumen Oil Co. (TNK) have reached an all-cash agreement to resolve an ownership dispute over Orenburg Oil Co. (Onaco). The deal streamlines the assets of both companies in the wake of TNK's venture with BP and Sibneft's tie-up with...

Thieves Of Baghdad: Russia And Eastern Europe Jostle For Iraqi Contracts.
April 23, 2003... As the dust settles in Iraq, Russia, which for years has lobbied for UN sanctions against Baghdad to be lifted, now opposes the move. And East European nations that supported the US are queuing up in the hope of winning postwar reconstruction...

Children Hospitalized After Refinery Leak.(Brief Article)
April 23, 2003... A criminal probe has been launched into a gas leak at Lukoil's Volgograd refinery that led to a number of children being hospitalized. A pressure gauge broke on a gasoline stabilization and gas rectification unit on Apr. 17, releasing a...

Iranian Religious Foundation Seeks To Woo Russians.(Brief Article)
April 23, 2003... The Mostazafan and Janbazan Foundation (MJF), the largest of the powerful religious bonyads that answer to Iranian Supreme Leader Ayatollah Khamenei, is looking to sign oil and gas contracts with Russia, one of Iran's closest allies. But the...

Draft Russian Crude Loading Programs For May 2003.
April 23, 2003... Draft Novorossiysk Crude Loading Program For May 2003

Azerbaijan: Turkey Allays BP Concerns Over BTC Pipeline.(Brief Article)
April 23, 2003... Turkey appears to have eased BP's concerns about progress on the Turkish end of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline. David Woodward, the head of BP's operations in Azerbaijan, and Mike Townsend, head of the BTC Pipeline Co., held...

Serbia: International Bids Invited For Retail Network.(Brief Article)
April 23, 2003... Consolidation of Eastern Europe's downstream oil industry is on the move again, after Serbia invited international companies to participate in the tender for a controlling interest in the country's second-largest fuel retailer, Beopetrol. ...

Belarus: Refineries For Sale In Partial Privatizations.(Brief Article)
April 23, 2003... In a bid to raise at least $1.15 billion, the Belarus government has finally approved plans to sell off six state-owned enterprises, including the Novopolotsk refinery (Naftan), fertilizer producer Azot, synthetic fiber maker Khimvolokno, and...

Azerbaijan: Aliev Guns For Reelection Despite TV Collapse.(Brief Article)
April 23, 2003... President Haidar Aliev appears on course to stand for reelection for another five-year term in November 2003 despite renewed concerns about his health after he collapsed during a live television broadcast on Apr. 21. Local television...

Payday: Lukoil Surprises With Big Dividend Payout.(Brief Article)
April 23, 2003... Lukoil has announced a dividend of $0.63 per share for 2002 that will amount to more than $530 million and comes in about 25% above what analysts expected the company to pay. Estimates place the payout at more than one quarter of Lukoil's 2002...

Frenzy: Surgut Shares At Center Of Takeover Speculation.(Surgutneftegaz Industrial Association)(Brief Article)
April 23, 2003... A flurry of interest in Surgutneftegas shares has aroused the suspicion of the Russian stock market watchdog, the Federal Securities Commission, which has said it would act immediately to investigate any indication of price-fixing. Surgut...

Equities And Currencies.
April 23, 2003... Share Prices Closing On April 22, 2003