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Rosneft has achieved restoration of legal actions on the suit of BP-TNK minority shareholder against BP for 288 billion rubles

The Federal Arbitration Court of the West-Siberian area (Tyumen) has cancelled the verdict of the lower court that stopped legal actions on the case of the  BP-TNK Holding minority shareholder A. Prokhorov about charging of 288 billion rubles in favor of the company from BP Investment Limited (BPRI) and BP p.l.c., the representative of the court says.

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Rosneft has bought out BP’s share in Elvari Neftegaz

Rosneft has bought out BP’s share in Elvari Neftegaz CJSC engaged with geological exploration at the Kaigano-Vasyukan block in Sakhalin-5. Before December 17 2012, Rosneft used to hold 51% in Elvari Neftegaz, and BP used to hold 49%. Thus, now Rosneft holds 100% in Elvari Neftegaz.
The Kaigano-Vasyukan site is located in north-eastern part of Sakhalin. Sea depth is 90-120 m. They have drilled 4 wells at the block. Extractable oil and gas condensate reserves by ABC1 are 16.14 million tons at the site. Rosneft is going to start its development in 2017.

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Authorities ask Vladimir Potanin to buy a shareholding in ALROSA

Authorities asked Interros of Vladimir Potanin to become one of anchor investors during placing of 14% of ALROSA shares at the market. The shareholding is preliminary assessed in 24-48 billion RUR. The officials apprehend that foreign competitors of ALROSA can buy the part of its capital, though foreign companies reject their interest in the securities. Analysts have different opinions about the attractiveness of the shares and note that the state needs a guaranteed loyal investor.
Interros obtained the proposal to take part in the public offering of ALROSA’s shares, information agencies reported on Friday. A source close to Interros confirmed the information and said, the investment department was dealing with the analysis of the proposal. The amount of shares is not specified. Interros, ALROSA and Goldman Sachs (the organizer of selling of 7% federal shareholding) provided no official commentaries.

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Rosneft modifies its dividend policy after merger with BP-TNK

Rosneft modifies its dividend policy for the united company after merger with BP-TNK. The corporative standards are 25% of net profit by ISA. On Wednesday, the President of Rosneft I. Sechin met with the investors and claimed that in near time the company would not make any offers for shares buying out from minority shareholders but it could be understood from his words that the shareholders would probably be able to get their dividends. On Wednesday, Rosneft securities declined in price by 2.27% at the background of common decline of the market; the index at MICEX  declined by 1.22%.

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Norilsk Nickel looks better than the market in current situation

In compliance with Wednesday major trading session MICEX index closed at the level of 1,335.89, having reduced by 1.22%.
The amount of the index calculation base securities tender made up 31.350 billion RUR per day. Thus, negative dynamics at Russian market remains. Growing trading volume reflects the process of curtailing of Stop-loss investment positions after reaching next level – now 1,350 points at MICEX.

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Mechel-Trans concludes a call option for 29% of the authorized capital of the stevedore for $174.6 million with the co-owner of Port Vanino Plc.

Mechel-Trans LLC has concluded a call option with one of the co-owners of Port Vanino Plc. for 29% of the authorized capital of the stevedore. The point is in redemption of 22,707 ordinary shares and 16,039 preference shares for the maximum total price of $174.6 million.

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Gazprom Board of Directors will discuss purchase of Kamchatkagazprom

At the session on April 23, Gazprom  Board of Directors will discuss purchase of Kamchatkagazprom. They are going to discuss the strategy of the electric energy assets development, the indices of the economy efficiency of Gazprom’s investment to electric energy assets in Russia and abroad, about the gas market development  in Russia and the measures for improve of repayment discipline in gas payments and the measures for improve of efficiency of associated gas use in Russia.

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Rosneft purchases the minority shareholding in Saras S.p.A.

Angelo Moratti S.a.p.a. of Jean Marco Moratti and Massimo Moratti signed a  contract with Rosneft JV Projects S.A. (100% belongs to Rosneft Plc. indirectly) in order to sell 130,290,883 shares of Saras S.p.A. (about 13.70% of the shareholders’ capital of Saras S.p.A. and about 21.5% of the total amount of the sellers’ shares) to the above-mentioned buyer for 178,498,510 EUR, the press service of Rosneft reports.

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Novatek bought back 317,250 of its shares within the period from April 8th to the 12th

Novatek bought back 317,250 of its shares including GDR within the period from April 8th to the  12th. Currently 10 Novatek’s GDR's were price at $107.9 at LSE and the price at MICEX is 314.97 rubles per stock.
In June 2012, Novatek’s Board of Directors decided the program of the buy back of equal shares and/ or GDR's of the company for a total sum of $60 million. The buy back will last for a year from July 7 2012.

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Norilsk Nickel charges off $1 billion and is ready to pay large dividends

The new management of Norilsk Nickel changed the company’s accounting policy and charged off about $1 billion, having created more favourable basis for further dynamics of the indices. At the same time, in 2012 the net profit of Norilsk Nickel proved to be much lower than forecasted, however other results were as the market expected, thus the company can pay its shareholders at least $2 billion of dividends, as it is presupposed by the amicable settlement agreement. The company will most likely have to attract money to pay $7 billion more by 2015 and analysts see no problem in it.
On Friday Norilsk Nickel published the consolidated financial results for 2012. The company’s proceeds reduced by 15% and made up $12 billion, EBIDTA – by 32% - to $4.93 billion, EBIDTA margin made up 41% (-10%), the net profit reduced by 41% - to $2.14 billion (the consensus forecast of Interfax is $2.94 billion), however the company explains it by non-financial charging off at the amount of $975 million. First of all it is conditioned by reduction of the market value of the company’s 11% of Inter RAO and other securities - $525 million. Besides, reduction of metal concentration in the ore of Norilsk Nickel assets in Australia and Botswana resulted in their depreciation by $151 million and $110 million respectively; it is said in the report that in 2013 conservation of the pits in these countries is expected. Reduction of the proceeds is conditioned by the market conjuncture, i.e. nickel prices (47% of the proceeds) reduced by 23% in 2012, copper prices (26%) and palladium prices (16%) – by 13%.

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