16 June 2004 22:49
Yesterday in Brief for June 16, 2004
The following is a digest of headline news from June 15 to 11:30 a.m. on 6: YUKOS PLUMMETS 7.7% AHEAD OF KHODORKOVSKY
TRIAL
Yukos shares plummeted 7.7% to 171.6 rubles a share by 11.00 a.m. on the Moscow Interbank Currency Exchange (MICEX)
ahead of Wednesday's opening of the trial of former CEO Mikhail Khodorkovsy and Menatep financial group chief
Platon Lebedev.
On Tuesday evening, the MICEX composite dropped 3.64% to close at 507.07 and the RTS index dropped 4.28% to 542.57
points, its level in mid-December 2003, on news that Yukos management had asked the government to restructure tax debts.
Yukos said it could clear about 70% of its tax debt this year if assets were unblocked and is reported to be considering
a share issue.
Yukos shares fell 8.5% on the RTS to $6.32 - their level at the end of January 2002 - slicing $1.6 billion from the
company's market capitalization. Yukos was down about 9% on the MICEX to about 185 rubles. KHRISTENKO SAYS
EASTBOUND PIPELINE FINANCING TO BE SET IN FALL
The method for financing construction of an oil pipeline to countries of the Asia-Pacific region could be known this
fall, said Russian Energy and Industry Minister Viktor Khristenko.
The Industry and Energy Ministry said in a press release
that building a northern oil pipeline with a terminal on the
In addition, the Russian Natural Resources Ministry is verifying how much oil and gas East Siberia holds, Khristenko
told the Gazeta newspaper.
Khristenko said the trunk pipeline system should be state- owned. PROBLEMS WITH BLACK SEA OIL EXPORTS COST RUSSIA
$400 MLN
Problems exporting oil through Black Sea ports cost Russia $400 million a year and could be resolved by diversifying
oil export routes, the Transport Ministry and Union of Russian Ship Owners said at a meeting at the Industry and Energy
Ministry.
Barents Sea would make it possible to use tankers with deadweight of up to 300,000 tonnes to ship oil to the North
American market and would help increase prices for Russian oil on the European market. RUSIA PETROLEUM MAY LOSE SIBERIAN
GAS FIELD LICENSE
Russian gas giant Gazprom plans to increase the price of gas
deliveries to the Baltic countries, Deputy CEO of Gazprom
Russia's Natural Resources Ministry may soon consider revoking the license held by TNK-BP holding Rusia
Petroleum to develop Kovykta the largest gas condensate field in eastern Siberia, a ministry source said.
"We intend to pull the Baltic countries to prices closer to
the EU," he said. The average price for gas deliveries to the
The source said Rusia Petroleum could be issued a license annulment warning if it is found to have violated its
contractual obligations, such as the deadline for the start of production, at Kovykta. If it fails to meet a new
deadline, it could then lose its license.
TNK-BP's press service declined to make any comments. GAZPROM TO UP GAS DELIVERY PRICES TO BALTICS
Alexander Ryazanov said on Tuesday.
Baltic countries is currently $80-$85 per 1,000 cubic meters. This price is much lower than the price per 1,000 cubic
meters in Poland, which is $120.
Increasing delivery prices to the Baltics should be done fairly carefully, since these countries have great
possibilities for using alternative types of fuel. CONTROLLING STAKE IN SVYAZINVEST SHOULD BE SOLD - MINISTER
The government should sell at least 50% minus two shares from its 75% stake in telecoms holding company Svyazinvest
in 2004, Telecommunications Minister Leonid Reiman told the press at an economic forum in St. Petersburg.
The tender was delayed on several occasions last year due
partly to differences between the Nigerian government and
Svyazinvest General Director Valery Yashin told Interfax at the forum that the sale makes little sense: Svyazinvest
would not bring "huge revenue" for the government and the loss of influence in the sector would be
considerable, he said. RUSAL LOSES NIGERIAN SMELTER TENDER
The U.S. consortium BFI Group Corp. won a June 14 tender for 77.5% of Aluminium Smelter Co of Nigeria (Alscon),
outbidding Russian aluminum giant Rusal, a source close to the tender told Interfax. BFI bid $410 million while Rusal
made a conditional offer of $210 million, which did not meet the tender conditions.
"We offered a price and terms which we think correspond entirely to the value of the asset," a Rusal
representative told Interfax.
minority shareholders Ferrostaal AG of Germany and Alcoa of the United States. BRITISH COUNCIL TOLD TO PROVIDE
FINANCIALS WITHIN WEEK
The Interior Ministry expects the administration of the British Council in Russia to provide the Federal Service for
Economic and Tax Crimes with financial documentation on its activities within a week's time, a source in the
Interior Ministry told Interfax on Tuesday.
It may take about a month to check the documentation, the source said. "If the British Council is found to be in
breach of the tax legislation, sanctions will be imposed on it," the source said. RUSSIA TO HAVE 50 MILLION
INTERNET USERS BY 2010
Russia will have 50 million Internet users by 2010, Telecommunications Minister Leonid Reiman said at an economic
forum in St. Petersburg on Tuesday.
The number of users has increased 35%-40% annually over the past four years and currently stands at 14 million, he
said. OIC WILL DEFINE FORMS OF COOPERATION WITH RUSSIA - YAKOVENKO
Russia's cooperation with the Organization of the Islamic Conference (OIC) should be defined above all by the
organization itself, Russian Foreign Ministry spokesman Alexander Yakovenko told journalists on Tuesday.
Russian Foreign Minister Sergei Lavrov is heading a delegation to the meeting of OIC foreign ministers and intends to
discuss the possibility of Russia's receiving observer status. Russian President Vladimir Putin attended the OIC
summit in fall 2003, he said. CHECHEN INTERIOR MINISTER TAKES LEAVE FOR ELECTION CAMPAIGN
Chechen Interior Minister Alu Alkhanov took a leave of absence to run in the Chechen presidential election and asked
Russian President Vladimir Putin to appoint Ruslan Alkhanov acting minister in his place.
He said that Russia is interested in Georgia remaining a
unified state and a partner along its southern border and in
Putin said Ruslan Alkhanov's candidacy will be discussed when Russian Interior Minister Rashid Nurgaliyev
returns from the meeting of CIS interior ministers in Chisinau, Moldovia.
Putin left Alu Alkhanov in charge of creating a mechanism of public control over funds allocated for rebuilding
Chechnya and compensation payments for lost housing. RUSSIAN, GEORGIAN DEPUTIES TO DISCUSS SOUTH OSSETIA AT PACE
SESSION
Russian and Georgian parliamentarians will discuss South Ossetia at the upcoming PACE session, head of the Federation
Council's committee on foreign affairs Mikhail Margelov told Interfax.
preventing war on Georgian territory.
A senior Russian general dismissed allegations on Tuesday from a Georgian minister that Russian peacekeepers
stationed on the border between Georgia proper and its breakaway region of South Ossetia were refusing to carry out
their duties. MOSCOW CRITICIZES NORWAY FOR ALLOWING ZAKAYEV FREE ENTRY
The Russian Foreign Ministry said in a statement that the Norwegian authorities' agreement to let Chechen rebel
emissary Akhmed Zakayev visit the country casts a shadow on Russian- Norwegian relations. COURT RETURNS RELIGION CASE TO
PROSECUTORS FOR CLARIFICATION
According to preliminary data, the OSCE intends to send no
less than 200 observers to the Ukrainian presidential
Moscow's Tagansky District Court on Wednesday returned to the city prosecutor a criminal case against Sakharov
museum and public center director Yury Samodurov, museum employee Ludmila Vasilovskaya, and artist Anna Mikhalchuk, who
have been charged with fuelling religious discord, with orders to "correct all inaccuracies in the indictment"
within five days.
The court said it is unclear from the indictment drawn up by the prosecutors "in what form and against what
group the fuelling of religious discord was expressed."
The investigation was launched after an exhibition titled "Beware: Religion" was ransacked. The alleged
vandals were acquitted. CIS AND THE BALTICS OSCE TO SEND OVER 200 OBSERVERS TO UKRAINIAN ELECTIONS
elections, said Vadim Zhdanovich, elections councilor of the OSCE's Office for Democratic Institutions and Human
Rights. BELARUS ECONOMY EXPANDS 10.2% IN JAN-MAY
Belarus saw its economy expand 10.2% year-on-year in January-May 2004, the Statistics and Analysis Ministry said.
Industrial production grew 14.4%, and fixed capital investment rose 21.2%.
Foreign trade turnover (including services) grew 24.9% year-on-year in January-April 2004, with exports up 26.5% and
imports up 23.4%.
[Interfax] |
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