NEFTE Compass articles from December 2004

NEFTE Compass archives from December 2004

Taking Aim: Gazprom To Bid For Glory With Yuganskneftegas Takeover.
December 1, 2004... Russia is turning the clock back on its oil industry by positioning gas monopoly Gazprom to swallow up the key production asset of Yukos, once the country's most efficiently run oil company. The takeover, along with the merger with...

Knife Edge: Ukrainian Crisis Could Disrupt European Supplies.
December 1, 2004... Ukraine's deepening crisis could be catastrophic for vital oil and gas supplies that transit the troubled nation on their way from Russia and the Caspian to Europe. Europe relies on Russia for one-third of its gas, which is transported by...

Guarded Welcome: Foreign Investors Mostly Positive On Draft Law.
December 1, 2004... The draft of the new law on subsoil usage that has been just presented by Russia's Natural Resources Ministry, has in general received the support of foreign investors, though some concerns still remain. Oleg Rumyantsev, vice president of...

Big Chill: Products Exports Decline In Winter Slump.(Russian fuel exports)(Brief Article)
December 1, 2004... Russian fuel oil exports experienced their usual seasonal decline in November as it closed the "summer" river navigation season and diverted the fuel to the domestic market for winter heating. All the Black Sea ports cut fuel oil exports,...

Merger Weapon: New Company To Advance Gazprom-Rosneft Merger.(Brief Article)
December 1, 2004... The Russian government is establishing a legal and financial framework to finalize the merger of Gazprom and Rosneft. It has set up Rosneftegas, a subsidiary of its Technopromexport company, to help facilitate the deal at the least possible...

China Gap: Lukoil Starts China Crude Shipments.(Brief Article)
December 1, 2004... Russian Railways plans to sign by the end of 2004 an agreement with Lukoil on rail crude shipments to China, according to the president of Russian Railways, Gennady Fadeyev, who visited Beijing last week to negotiate cooperation with the...

Latin Link: Lukoil Gains A Foothold In Venezuela.(Brief Article)
December 1, 2004... In a bid to underpin its presence in the Western Hemisphere, Russia's Lukoil signed last week a memorandum of understanding with state Petroleos de Venezuela (PDV). Although if it falls short of specifying concrete plans, the MoU provides...

Imperial Exchange: TNK-BP Links Up With London University.(Memorandum of understanding )(Brief Article)
December 1, 2004... TNK-BP has signed a five-year memorandum of understanding with the University of London's Imperial College to explore cooperation in raising the standards of petroleum engineering in Russia. Larry McVay, TNK-BP's chief operating officer,...

Magnetism: Deripaska's Basic Element Moves Into Oil.(Oleg Deripaska)(Brief Article)
December 1, 2004... Metals magnate Oleg Deripaska's Basic Element (Basel) has revealed plans to set up a small vertically integrated oil company. According to a Basel official, the company has acquired the small Afipsky refinery in Russia's Krasnodar region as...

Burning Issue: Japanese Power Plant Takes First Sakhalin Crude.(Tokyo Electric Power Co., Sakhalin-2 consortium)(Brief Article)
December 1, 2004... The Sakhalin-2 consortium last week kick-started relations with Japan's Tokyo Electric Power Co. (Tepco) by delivering 170,000 bbl of light sweet crude oil from the Vityaz offshore production complex. The delivery was made to Tepco's power...

Crying Uncle: Moscow May Show Mercy On Export Tariffs.
December 1, 2004... Responding to a barrage of complaints from oil companies, the Russian government says it is thinking about lowering crude export tariffs. Deputy Finance Minister Sergei Shatalov said that the government is aware that the state's current...

Go Gas: Gazprom Advances At Urengoi.(Brief Article)
December 1, 2004... Russia's Gazprom is moving forward with plans to develop the Achimovsk reservoir of the Urengoi gas field in Western Siberia together with Germany's Wintershall. The signing of a basic agreement between Gazprom, its subsidiary...

Russian Crude Loading Programs For December 2004.
December 1, 2004... Novorossiysk Crude Loading Program For December 2004

Caspian Swapshop: Iranian Crude Swaps Regain Momentum.
December 1, 2004... After hitting rock bottom in October, shipments of Russian, Kazakh and Turkmen crude to Iran's Caspian port of Neka have regained some momentum this month but are still well short of the levels of around 120,000 b/d achieved early this year. To...

Azerbaijan: Statoil Hints At Shah Deniz Expansion.(Brief Article)
December 1, 2004... Statoil senior vice president Bjorn Jacobsen has hinted at possible plans to expand the planned Shah Deniz development, in which it has 25% equity. The venture has contracted a total 8 Bcm/yr in its first phase due to start 2006-07 into Turkey,...

Kazakhstan: Nelson Set To Claim Two Auction Prizes.(Brief Article)
December 1, 2004... Nelson Resources is poised to boost its production and reserves by buying up stakes in two fields auctioned off last week by state oil company Kazmunaigas. The Canadian independent submitted the highest bid -- of $10.8 million -- for a 50%...

Lithuania: Primorsk May Take Crude Away From Butinge.(Russia's Primorsk oil port on the Baltic Sea may result in Russian crude volumes being diverted from Lithuania and its Butinge export terminal)(Brief Article)
December 1, 2004... The expanded capacity of Russia's Primorsk oil port on the Baltic Sea may result in Russian crude volumes being diverted from Lithuania and its Butinge export terminal, Russian Energy Agency sources say. Lithuanian sources earlier told...

Azerbaijan: Lukoil Abandons First Yalama Well.(Brief Article)
December 1, 2004... Lukoil has decided to abandon the first exploration well it started drilling a month ago on the Yalama (D-222) block in the northern part of the Azeri Caspian shelf. The company's drilling activities will be moved to another location. "In...

Salym Shuffle: Shell Approves Budget To Start Salym Output In 2005.
December 1, 2004... Salym Petroleum Development (SPD), a Royal Dutch/Shell joint venture with Sibir Energy-controlled Evikhon, will allocate $278 million for the development of its Salym group of fields in Western Siberia in 2005. The decision was made by...

Crude Oil: Pushed And Pulled.
December 1, 2004... Brent futures made it to an inter-week high of $46.70 before a combination of a sell-off into the expiry on Nov. 30 of the New York heating oil December futures and a bearish heating oil inventory report on Dec. 1 pulled the rug from under the...

Products: Gas Oil Plummets With Falling Futures.(Brief Article)
December 1, 2004... Russian gas oil prices took a hammering this week from a sharp drop in futures, which was exacerbated in Northwest Europe by falling differentials. The drop was partially mitigated in the Mediterranean by rising differentials. Exports of...

Indian Spice: Putin Backs Indian Bid For Yuganskneftegas.(Vladimir Putin, Oil and Natural Gas Corporation Ltd.)
December 7, 2004... The prospects of India's Oil and Natural Gas Corp. (ONGC) submitting a bid for Yukos' main production unit have gotten a boost, as Russian President Vladimir Putin has given his public blessing to the state-owned concern's participation in the...

French Whine: Total Faces Difficulties In Russia.(Total Petroleum Inc.)
December 7, 2004... With deals similar to the TNK-BP joint venture off the table any time soon, alliances and partnerships will become the most common types of relationship between Russian and foreign companies. Mikhail Fridman, chairman of TNK co-owner Alfa...

Waiting Game: No Breakthrough On West Qurna Contract.(OAO Lukoil)
December 7, 2004... Lukoil is still frustrated in its efforts to keep a hold on its contract to develop the West Qurna field in Iraq. The Russian oil company apparently failed to make any progress in talks with a high level delegation from Iraq visiting Moscow...

To-Do List: Fridman Outlines Priorities For TNK-BP.(Mikhail Fridman)(Brief Article)
December 7, 2004... Upstream development remains TNK-BP's top priority in Russia and exports are the main challenge, says Mikhail Fridman, chairman of Alfa Group, which co-owns TNK. Addressing an investment forum in Moscow last week, Fridman pointed to...

Mudslide: Russian Crude Exports Slide In November.(Brief Article)
December 7, 2004... Russian crude exports via the Transneft pipeline system slid by 34,000 b/d in November from the previous month as winter storms hammered loadings out of the Black Sea ports. November exports totaled 3.595 million b/d (14.715 million metric...

New Bid: Tatneft To Bid For Acreage In Libya.(Brief Article)
December 7, 2004... Tatneft is submitting a bid to explore for oil and gas in Libya, in a further effort to expand beyond the limited scope of its resource base in Tatarstan. The company has acquired materials on Libya's exploration areas being offered under...

Island Romance: Urals Energy Buys Petrosakh From Alfa Eco.
December 7, 2004... After selling its oil holdings in a scuffle with Lukoil last year, Urals Energy is buying its way back into the Russian oil industry. Urals Energy has diversified from trading into the upstream, having reached an agreement to purchase a...

Sticker Shock: Moscow Wary Of Sakhalin-2 Costs.(Sakhalin Energy)(Brief Article)
December 7, 2004... The Russian government is upset with Sakhalin Energy's cost overruns and is urging the Royal Dutch/Shell-led consortium to do something about it. The state-appointed expert study group overlooking the Sakhalin-2 project has asked the operator...

Turkish Delight: Putin's Turkey Visit Yields Gas Deals.(Vladimir Putin)
December 7, 2004... Energy cooperation was high on the agenda of Russian President Vladimir Putin's historic visit to Turkey. Putin and his Turkish counterpart President Ahmet Necdet Sezer on Dec. 6 signed important agreements in the gas and banking spheres....

Gentle Nudge: TNK-BP Pushes For Kovykta Decision.
December 7, 2004... Gas from Russia's projects in Kovykta and Sakhalin should not be viewed as competing against each other for markets in Asia, because the they would be targeting different regions in China, says Harry Griffith, deputy general director of Rusia...

Name Game: Bank Menatep Changes Name, Severs Yukos Ties.(Group Menatep and OAO NK Yukos departs)(Brief Article)
December 7, 2004... The financial arm of Group Menatep has disentangled itself from Yukos' main shareholders and is ready to start a new life on its own, following a name change and a management buyout. Stung by the stigma associated with the government's...

Round Two: Ankara To Launch New Tupras Sale.
December 7, 2004... Turkey has announced it is planning a second attempt at selling off a 66% stake in state-run refiner Tupras, after an Ankara court voided the original auction won by Tatneft. Turkish Finance Minister Kemal Unakitan confirmed the government...

Poland: Lukoil Finds Itself In Middle Of Scandal.(OAO Lukoil)
December 7, 2004... Lukoil has vehemently denied its involvement in the corruption scandal that has dominated the Polish political scene since the summer. The Polish media has alleged that the Russian oil company either paid or promised to pay a $5 million...

Lithuania: Vilnius Rejects Yukos Appeal.(OAO NK Yukos)(Brief Article)
December 7, 2004... Vilnius has rejected a plea by Yukos to postpone its option to increase its stake in Mazeikiu Nafta (MN), citing the embattled Russia oil major's financial woes. A Lithuanian state official confirmed that Yukos, which controls and operates...

Turkmenistan: Ashgabat Hikes Gas Prices.(Brief Article)
December 7, 2004... Turkmenistan is planning to hike the price at which it sells gas to Russia and Ukraine by over 36% in 2005, citing high international prices and increased production and transport costs. Currently, Turkmen gas is sold at the republic's...

Ukraine: Naftogas Ukrainy Buys Into Kalmneft.(Kalmneft Joint Stock Co.)(Brief Article)
December 7, 2004... State-run Naftogas Ukrainy is pushing ahead with plans to farm into upstream projects in Russia. The company plans to buy a 50% stake in independent crude producer Kalmneft, which is located in the Russian autonomous republic of Kalmykia....

Kazakhstan: Crude Output Climbs To New Record High.(Brief Article)
December 7, 2004... Kazakh crude and condensate production hit yet another record high in November of 1.267 million b/d as BG and Eni further ramped up output from the Karachaganak field. The joint operators of Karachaganak were able to boost condensate...

Shopping List: Gazprom Delays Investment Plans For Yugansk Bid.(Yuganskneftegas)(Brief Article)
December 7, 2004... Gazprom is pushing back its capital investment plans and seeking bank loans to make cash available to bid for Yuganskneftegas. The gas giant's executive board has approved a revised 2005 draft investment program, slashing planned spending...

Tongue Tied: Yukos May Have Problems Declaring Bankruptcy.(OAO NK Yukos)(Brief Article)
December 7, 2004... The situation for Yukos is becoming ever more desperate. Investigators again raided the offices of its core producer Yuganskneftegas in the West Siberian town of Nefteyugansk on Dec. 8. Yugansk was also slapped with another tax claim this...

Equities And Currencies.
December 7, 2004... Share Prices Closing On December 7, 2004

Crude: An Uncertain Recovery.
December 7, 2004... Energy futures continued to implode during the week with Brent futures crashing from a $45.43 high on Dec. 1 to a $37.30 low on Dec. 8 for a fall of almost 18% before staging an uncertain recovery. This latest tumble was triggered last week...

Products: Russian Gas Oil Plunges Alongside Futures.
December 7, 2004... The continuing dive in futures took its toll on Russian gas oil prices this week, particularly in Northwest Europe, despite a seasonal rise in demand. The Mediterranean faired better, due to tight supply and strong bids from a few buyers. ...

Last Resort: Yukos Makes A Last Stand Before Judgment Day.(OAO NK Yukos's filing for bankruptcy protection)
December 14, 2004... Like the defenders of the Alamo in 1836, Yukos is making a last-ditch stand in Texas, President George W. Bush's home state, by filing for bankruptcy protection in a Houston court. But it, too, seems doomed, destined to be overrun by the...

First Stop: Russia Puts The Brakes On Six-Year Production Growth.
December 14, 2004... Russia is planning to put an end to a six-year production growth streak as it enters the new year. Industry and Energy Minister Viktor Khristenko has signed off on the first quarter 2005 crude balance targeting production of 9.61 million...

Take A Hike: Transneft Hoists Crude Pumping Tariffs.(Brief Article)
December 14, 2004... State pipeline operator Transneft has won Moscow's blessing to hike its crude pumping fees by an average of 11.2% starting Jan. 1 to help finance its pipeline capacity expansion projects. After last week's decision by Russia's Federal...

Stop Sign: Government Again Delays Pipeline Decisions.
December 14, 2004... The government has sent a letter to President Vladimir Putin saying that a decision on the East Siberian oil pipeline is going to be delayed. Earlier, the Industry and Energy Ministry informed the cabinet that this decision could not be...

Meg Deal: Slavneft Buys Lundin Out Of Megionneftegas.(Brief Article)
December 14, 2004... Slavneft, which is jointly owned by Sibneft and TNK-BP, has acquired a controlling stake in its core oil-producing unit Megionneftegas. A 6.4% stake -- 3.96% in ordinary shares and 2.44% in preferred shares -- was purchased from minority...

Pipe Squeak: Russians Lose Greek Pipeline Monopoly.(contract between Depa and Ghizzoni)(Brief Article)
December 14, 2004... Russian firms no longer enjoy a de-facto monopoly on laying gas pipelines in Greece. Greek state-controlled gas company Depa late last month contracted Italy's Ghizzoni to build a strategic 33 km section of what will become the first gas...

Greek Yarn: Trans-Balkan Pipeline Discussed in Moscow.
December 14, 2004... Russia and Greece have agreed to promote construction of the trans-Balkan Bourgas-Alexandroupolis oil pipeline, which would link Bulgaria's Black Sea coast to the Greek Aegean Sea. The issue was discussed last week at a Moscow meeting of...

Forward Spin: Gazprom Briefs Putin On European Pipeline.(Brief Article)
December 14, 2004... Gazprom CEO Alexei Miller met with Russian President Vladimir Putin to discuss the gas monopoly's plans for next year. According to Miller, the company plans early next year to determine partners and financing for Gazprom's proposed North...

Ten Years After: Shell Brings West Salym Field On Stream.(Salym Petroleum Development)
December 14, 2004... Ten years after securing the license to the Salym group of fields in Western Siberia, Royal Dutch/Shell's Salym Petroleum Development (SPD) joint venture has finally brought on stream the biggest of the three fields, West Salym. It expects...

Top Rank: Seven Russian Firms Feature In Top 50.(Brief Article)
December 14, 2004... Seven of Russia's top oil companies feature in this year's ranking of the world's Top 50 oil companies by Nefte Compass sister publication Petroleum Intelligence Weekly (PIW). Saudi Aramco remains the world's leading oil company, followed by US...

Top Marks: New EU Czar Commends Russia Dialogue.(Andris Piebalgs, European Union)(Brief Article)
December 14, 2004... In one of his first duties as European Union energy commissioner, Latvia's Andris Piebalgs this week presented the findings of a report of four years of energy dialogue with Russia. Launched at an EU-Russia summit in 2000, he said the dialogue...

Price Cut: Lukoil Leads Cut In Domestic Fuel Prices.
December 14, 2004... President Vladimir Putin's move last week to rein in rising domestic gasoline prices has quickly paid off. Lukoil, the country's second-largest crude producer, has decided to curb prices by 5% in its retail operations all over Russia, the...

Offshore Focus: Gazprom, Norsk Hydro Sign Gas Memo.(Brief Article)
December 14, 2004... Gazprom chief executive Alexei Miller and Norwegian firm Norsk Hydro's president Eivind Reiten signed a memorandum of understanding (MOU) this week to conduct a series of joint studies about gas projects. The parties agreed to continue to...

No Worries: Exxon Not Worried About State Control Of Gazprom.(Rex Tillerson, Exxon Mobil Corp.)(Brief Article)
December 14, 2004... Exxon Mobil president Rex Tillerson does not view the Russian government's efforts to gain a controlling stake in the country's natural gas giant Gazprom as a significant concern. Of more importance to Exxon is the government's view on the...

Azerbaijan: Lukoil Wins Socar Urals Tender.(OAO Lukoil)(Brief Article)
December 14, 2004... Russian oil major Lukoil has been announced the winner of a tender by Azeri state Socar to lift a Urals cargo in January. The cargo of 140,000 metric tons (1 million bbl) will load out of the Russian Black Sea port of Novorossiysk on Jan....

Azerbaijan: EBRD Backs Socar Gas Projects.(European Bank for Reconstruction and Development)(Brief Article)
December 14, 2004... The European Bank for Reconstruction and Development (EBRD) is lending $170 million to Azeri state oil company Socar to help the company participate as a commercial player in two key gas projects. The bank is lending $110 million toward the...

Ukraine: Trans World Group Buys Downstream Assets.(Sea Group International)(Brief Article)
December 14, 2004... New York-based Trans World Commodities has acquired a controlling stake in Sea Group International, a minority shareholder of Ukraine's largest refinery, the Kremenchug refinery, according to a statement by the Registration Chamber of...

Dog Days: Equities Battered By New Corporate Tax Bills.(Vimpelcom)
December 14, 2004... After a year dogged by Yukos worries, Russian investors had hoped to start 2005 with a clean slate, but the market remains as jittery as ever. In another potential blow to Russia's already tarnished investment image, the Audit Chamber...

Equities And Currencies.
December 14, 2004... Share Prices Closing On December 14, 2004

Crude Oil: Futures Hit As Market Dismisses Opec Cut.(Organization of the Petroleum Exporting Countries)
December 14, 2004... Brent futures traded a dizzy $5.10 range between $37.00 and $42.10. The sell-off started last week in technical trade with speculators liquidating length despite Opec's decision to cut 1 million b/d of production in defense of falling prices....

Products: Despite Rising Futures, Gas Oil Holds Steady.(Brief Article)
December 14, 2004... A slight rise in gas oil futures this week had a minimally positive effect on differentials in Northwest Europe and the Mediterranean. Prices in NWE rose slightly on the week due to cold weather and arbitrage to the Med. For political...

Murky Business: Surgutneftegas, Gazprom Seen As Likely Masters Of Yuganskneftegas.
December 21, 2004... Hopes that Russia's oil business was becoming more transparent were dashed when a completely unknown company made a $9.35 billion winning bid in the Dec. 19 auction for Yuganskneftegas, Yukos' main producing subsidiary. As the murk starts...

Clear Views: Kazakh President Urged To Improve Investment Climate.
December 21, 2004... Kazakhstan has made great strides in shifting from a command to a market economy, but the transition phase has created new problems that could undermine the republic's drive to attract foreign investment. That was the view put forward by...

Euroland: Russia Switching Reserves To Euros, But Not Oil Prices.
December 21, 2004... As the US dollar continues to weaken against the ruble and other major international currencies, Russia is beginning to shift its foreign currency reserves from dollars into euros. In making the switchover, Moscow is following the suit of...

Seasonal Greetings.
December 21, 2004... This issue of Nefte Compass is published a day earlier than usual because of the forthcoming holiday season. The next issue will be published on Jan. 6.

Inching Up: Crude Shipments To CIS Set To Edge Higher.(Brief Article)
December 21, 2004... Russian oil shipments to the CIS are set to increase a shade in the first quarter of 2005 to 12.79 million metric tons (1.041 million b/d) from 12.685 million tons (1.033 b/d) scheduled for the same period of 2004 (see p9). Under the...

Eco OK: Environmental Experts Bless Pacific Oil Pipeline.
December 21, 2004... The scheme to build the East Siberian oil pipeline to the Russian Pacific port of Nakhodka has been given the thumbs-up from environmental experts, but the official document is still to be revealed. At the same time, the Industry and...

Shipwreck: In Wake of Auction, Yukos Cargoes Falter.
December 21, 2004... Amid the turmoil over the auction of Yukos' main production unit Yuganskneftegas, the shattered oil major's export business has started to take some flak. Yukos has cancelled the loading of the Governor Farkhutdinov oil tanker, which was...

Step Back: Lithuania Seeks To Prise MN Away From Yukos.(Brief Article)
December 21, 2004... Lithuania's new government is looking at ways to regain control over oil company Mazeikiu Nafta (MN), which is currently controlled and operated by embattled Russian major Yukos. New Economy Minister Viktoras Uspaskikh said the state, which...

Baltic Brother: Surgut Eyes Latvian Export Assets.(Brief Article)
December 21, 2004... In a bid to expand its export openings, Surgutneftegas is trying to buy into the Latvian Baltic Sea port of Ventspils. According to insiders in Latvia, the talks are under way between the Russian oil major and Ventspils Nafta's (VN)...

Building Blocks: Sibneft Wins Auction For Three Siberian Fields.(Brief Article)
December 21, 2004... Sibneft has made a few additions to its upstream arsenal, winning an auction for exploration and development rights for three fields -- Yuzhno-Udmurtskoye, Chatylkinskoye and Khlmistoye -- in the Yamal-Nenets Autonomous District in Western...

Chop Chop: Sibneft, TNK-BP Follow Lukoil In Cutting Fuel Prices.(Brief Article)
December 21, 2004... Sibneft and Russian-UK joint venture TNK-BP are to follow Lukoil's lead and cut wholesale prices for oil products. Local news agencies report that Sibneft intends to reduce wholesale prices for its oil products by 5%-7%, depending on the...

Overproducer: Bashneft Probed Over License Violations.(Brief Article)
December 21, 2004... Russia's Bashkortostan Prosecutor's Office last week initiated a criminal case against Bashneft for allegedly violating license terms for fields in the Volga-Urals region. According to the acting prosecutor of the autonomous republic of...

Output Holiday: Sakhalin Oil Season Ends.(Brief Article)
December 21, 2004... Sakhalin Energy has completed its sixth oil production season with total output of 11.69 million bbl. Oil production is carried out during the ice-free season, which this year started on May 28 and finished on Dec. 11. Last year, the...

Azerbaijan: BP Aims To Rein In Shah Deniz Cost Overruns.(Brief Article)
December 21, 2004... The weak dollar and inflation caused by high oil prices have pushed the cost of the Shah Deniz gas project way over its budget of $3.2 billion, but operator BP said it aims to keep the cost overrun to around 25%. BP said factors relating...

Kazakhstan: Lukoil Prepares For Spring Drilling On Caspian Shelf.
December 21, 2004... Russia's Lukoil has announced the completion of engineering and geological works on the Caspian Sea's Tyub-Karagan Block offshore Kazakhstan, as part of preparatory operations for drilling the first well on the acreage. The first 2,500...

Romania: Regal Spuds First Well On Suceava Block.
December 21, 2004... UK independent Regal Petroleum has commenced a drilling program on its Suceava Block. Suceava is one of the largest exploration blocks in Romania with an area of over 4,000 sq km, in the northeast of the country. Following a seismic...

Bumpy Ride: Gazprom Keeps New Rosneft Merger In Circulation.(Brief Article)
December 21, 2004... The mega-merger of Gazprom and Rosneft was never likely to go smoothly. Though the union has yet to be completed, Gazprom announced on Dec. 21 that it had sold the holding structure for the newly created subsidiary, Gazpromneft. It said...

Tapping: Novatek Floats IPO Ahead Of Total Acquisition.(Initial public offerings)(Brief Article)
December 21, 2004... Novatek, Russia's largest independent natural gas producer, is taking the first step in tapping financial markets by distributing 3% of its shares among institutional investors, the company announced last week during a teleconference of Moscow...

Equities And Currencies.
December 21, 2004... Share Prices Closing On December 20, 2004

Crude Oil: Futures Rally Supported By Icy US Blast.(Brief Article)
December 21, 2004... Brent futures traded a less volatile but still impressive $2.30 range between a $41.15 low early in the short six-day reporting period and a $43.15 high reached on both Dec. 20 and Dec. 21. The continuation of the rally, which started last...