NEWS & EVENTS

July 2. Vladimir Lisin has consolidated management of his transportation assets (four ports and two river shipping companies).

July 2. Turkmen President Gurbanguly Berdymukhamedov has proposed his Russian counterpart Dmitry Medvedev to meet in Ashgabat

July 2. Two Russian assembly lines of foreign car makers – Ford and General Motors – halted production as of July 1

July 2. The Duma members have adjusted the draft law on additional bank capitalization via OFZs

July 2. In global petroleum market headlines, oil prices dipped below USD 70 a barrel Wednesday after government data showed a build in US gasoline inventories ahead of the Independence Day holiday

July 1. TNK-BP reported stronger 2Q 2009 financials

July 1. The mechanism of additional capitalization for Russian banks via OFZ (federal bonds) could be extended

July 1. Seventh Continent’s board appointed on Tuesday

July 1. Federal Grid System (FSK) could more than halve its 3-year investment program

July 1. In global petroleum market headlines, oil prices tumbled below USD 70 a barrel Tuesday after a steep drop in US consumer confidence data in May rekindled concerns over a potential economic

June 30. Bank VTB, Russia’s No. 2 lender, could launch an SPO next year

June 30. The share of overdue loans in the credit portfolio of Russia’s second largest state-run bank VTB has tripled over the last six months to nearly 6%,

June 30. Business entities of Russia’s largest businessman Mikhail Prokhorov are prepared to revise its takeover offer for RBC media holding facing financial problems,

June 30. Russian Gazprom will purchase 500 mn cu m of gas per year from Azerbaijan effective 2010, with supply volumes to be ramped up at a later time,

June 30. In global petroleum market headlines, oil prices surged nearly 4% to above USD 71 a barrel Monday, stoked by news of fresh rebel attacks on oil installations in Nigeria and gains in equity

June 29. Gazprom sees demand picking up from European consumers

June 29. Russian PM Vladimir Putin proposed not allocating budget funds to new construction projects starting in 2010.

June 29. The Bank of Russia is mulling a refinancing rate cut,

June 29. Gazprom Neft, which began buying up Sibir Energy shares in spring, has gained control over the company, adding to a 34% stake consolidated on the market another 23.5%

June 29. OGK-1’s shareholders voted at Friday’s AGM to assign operational management of the company to state-run Inter UES which promised to find cash to finance the investment program.

June 29. In global petroleum market headlines, oil prices fell more than USD 1 to settle below USD 70 on Friday on the back of a sell-off on Wall Street and news top African oil producer Nigeria wo

June 26. VTB, Russia’s second largest state-controlled lender, which failed to gain the desired prices on the dollar-denominated Eurobond market is attempting to find investors on the Swiss franc d

June 26. Gazprom contracted NNPC Wednesday to set up a JV with investments of at least USD 2.5 bn.

June 26. Russian mining and metallurgical company Mechel will supply 2 mn tons of coking coal concentrate to clients in China, Japan and South Korea in 2009

June 26. In global petroleum market headlines, oil surged above USD 70 a barrel on Thursday after rebel attacks on Nigerian oil facilities disrupted supply, political turmoil continued in Iran, the

June 25. Novatek, Russia’s No. 2 gas producer, and French Total intend to invest around USD 1 bn into the development of the large Termokarstovoye field in the Yamal-Nenets Autonomous District.

June 25. The European Central Bank pumped on Wednesday EUR 442 bn (USD613 bn) into the money market in the form of one-year loans, which is an all-time high injection of financial resources.

June 25. Russian mining and metallurgical company Mechel is confident that it will be able to successfully restructure or refinance not only a USD 1 bn loan raised to acquire British Oriel but also

June 25. In global petroleum market headlines, oil fell towards USD 68 a barrel on Thursday, after US fuel inventories rose by more than expected and the dollar held steady, as concerns over the he

June 24. Belarusian President Alexander Lukashenko threatened to revise the list of oil suppliers

June 24. The best rollout option for Svyazinvest’s mobile business would to merge its assets with a Big3 operator,

June 24. Sberbank of Russia projects modest net profit in 2009, although its reserves could top RUB 500 bn and is quite sure that there will be no need to raise additional capital this year.

June 24. Russian PM Vladimir Putin met top managers of French oil company Total and Russian gas producer Novatek Wednesday to discuss cooperation of the two companies in Russia,

June 24. In global petroleum market headlines, oil rose nearly 2% Tuesday as the dollar weakened and disruptions from OPEC member Nigeria stoked supply concerns.

June 23. Interros owner Vladimir Potanin is prepared to buy up 25% of Norilsk Nickel that Oleg Deripaska’s Rusal holds

June 23. ECB head Jean-Claude Trichet called upon EU member states not to be overly exuberant at the first signs of a slowdown in the economic crisis

June 23. The pace of decline in the German economy has eased, however, the bottom will be reached in mid-2010, at the earliest,

June 23. Gazprom’s oil arm Gazpromneft has no plans to boost a recently purchased stake in Sibir Energy but mulls other acquisitions, including stakes in the largest Slovenian gas station chain Pet

June 23. Negotiations between Chinese steel makers and iron ore suppliers over pricing will not be finalized before the end of June, China’s national radio reported quoting an unnamed official at C

June 23. In global petroleum market news, oil steepened losses below USD 67 a barrel on Tuesday, after a fall of nearly 4% the previous day, as renewed worries over the uncertain outlook for major

June 22. Aeroflot intends to downsize staff,

June 22. The Russian authorities will support Surgutneftegaz in its intention to enter management bodies of Hungarian MOL in which the Russian company acquired a 21.2% stake in March,

June 22. MMK’s subsidiary has sued Oleg Deripaska’s developer Glavmosstroy for bankruptcy,

June 22. The second largest Russian oil producer Lukoil has for the first time gained a footprint on the refining market of North-West Europe, after reaching an agreement with French Total on a buy

June 22. In global petroleum market news, oil prices fell 2.5% to below USD 70 a barrel Friday, dragged lower by a sell-off in the gasoline market as dealers bet there would ample fuel supply in th

June 19. VolgaTelecom forecasts a 11.5% rise in 2009 net profit to RUB 3.3 bn by rolling out the VAT segment,

June 19. The European Commission urged Thursday Gazprom and Naftogaz to reach a “stable and long-term” gas arrangement,

June 19. The Moscow Arbitration Court (MAC) ruled Thursday to declare Incom-Lada bankrupt and initiated bankruptcy proceedings,

June 19. In 2009 Rostelecom intends to lift capex by 11.5% to RUB 8.7 bn,

June 19. In global petroleum market headlines, oil prices headed north on Thursday as data raised hopes of an economic turnaround and disruptions from OPEC member Nigeria stoked supply concerns.

Sovkomflot could be technically prepared to go public by 2008, CEO Sergey Frank said.

Russian Railways Company (RRC) is looking to raise a $1 bln syndicated loan in February-March 2008.

TGC-2 shareholders to address the SPO issue on December 5, 2007.

Rosneft intends to spend some Rub 3 bln to carry out the first stage of the Syzran Refinery’s revamping program in 2007-2010.

Magnit is set to open hypermarkets in Solnechnogorsk (Moscow region), as well as in Kingisepp (Leningrad) and Kamyshin (Volgograd region), by the end of 2007.

Gazprom could take French O&G giant Total onboard to tap the Astrakhan gas condensate field.

Rosnedra's commission for premature license revocation issued an order to Ulyanovskneft, a subsidiary of Russneft, to eliminate violations at the Zimnitsky acreage within 3 months.

GAZ Group intends to triple auto component purchases from manufacturers in the State of Michigan (USA) to $1.2 bln by 2010.

Russian President Vladimir Putin thinks it's reasonable to work out a concept for macro regions of Russia and does not rule out that this will change boundaries of federal districts.

It's advisable for Ukraine to form a portion of currency reserves in Russian rubles, since at a certain point in the future Russia could switch to the ruble in export supplies, first vice PM and Finance Minister Nikolay Azarov believes.

UES expect to see the capacity market as part of the wholesale electric power market launched as of January 1, 2008.

UES has not dropped plans to place WGC-6's GDRs on LSE.

UES will have to perform revaluation of MUEGC and MCEGC ahead of their subsequent merger.