The Ukrainian government has ordered the national energy holding Naftogaz Ukrainy to store 17 billion cubic meters of gas underground until November 1, in order to ensure uninterrupted supplies of Russian gas to the E.U. CEO Andrei Kobolev said earlier that Naftogaz Ukrainy planned to put 14.5 billion cubic meters of gas in storages, while…
As of August 26, grains and pulses (including corn) had been harvested from 9772 thousand ha (68% of the intended area) compared with 10305 thousand ha as of August 26, 2015. Farmers obtained 38.223 MMT with average yields at 3.91 MT/ha (at the same date in 2015 – 37.027 MMT with average productivity at 3.59…
Ukraine’s NNEGC Energoatom plans to hire South Korean nuclear plant operator Korea Hydro & Nuclear Power (KHNP) to complete construction of No. 3 and No. 4 blocks at the Khmelnytsky nuclear power plant and implement the Ukraine-EU Energy Bridge project, the Energy and Coal Industry Ministry said in a statement. Energoatom and KHNP signed a…
Ukraine’s Ministry of Energy and Coal Industry, the Energy Ministry of Kazakhstan and Kazakh National Nuclear Company Kazatomprom have agreed to establish a joint venture (JV) for uranium mining in both countries, Ukrainian Energy Minister Ihor Nasalyk has said, commenting on the results of his visit to Kazakhstan in mid-August. “Kazakhstan has the best desalination…
Rapeseed harvesting is complete in Ukraine. According to UkrAgroConsult estimates, rapeseed production is likely to be 30% lower than last year. Reduction of harvesting area due to significant winter rapeseed losses (234 thousand ha) was the main reason for production decline. Nevertheless, rapeseed average yields appeared to be higher than expected and even higher than…
As of August 29, Ukrainian agrarians harvested 38.266 million tons of grains and pulses throughout the areas of 9.793 million ha, or 68% of the plan. The average yield totaled 3.91 ton/ha, the Ministry of Agrarian Policy and Food of Ukraine reported. At the same time, on the same date last year the production volumes…
The Government is engaged into work to prepare for the introduction of Ukraine’s international trade support mechanisms that will help promote domestic producers on the international arena. Prime Minister of Ukraine Volodymyr Groysman announced this during the meeting of the National Council of Reforms under the chairmanship of President of Ukraine Petro Poroshenko on Monday.…
An article “Tajikistan Mulls EEU Membership, Feels Pull of Russia” posted on EurasiaNet.org’s website notes that many Tajiks oppose economic integration with Russia Abdufattoh Ghoib, the head of Tajikistan’s Customs Service, announced on July 19, that the Tajik government was considering making an application to enter the Eurasian Economic Union (EAEU). Ghoib’s declaration followed an…
The price of Russian crude oil supplies to Belarus dropped by 25.4% YoY in January-June to $208, Belarus’ National Statistical Committee (Belstat) said in a report. Belarus’ expenditures on crude oil imports from Russia decreased by 24.8% YoY to $2.398 billion. In H1 2016 Belarus purchased 11.522 million tons of Russian crude, up by 0.9%…
Russia plans to increase grain exports to Palestine from 70 thousand tons to 250-300 thousand tons, the Russian-Palestinian intergovernmental commission on trade and economic cooperation declared. The Palestinian party is interested in cooperation in the sphere of energy, health care, culture and agriculture. The first contract with the Palestinians for the supply of 70 thousand…
Russia will abandon the wheat export duty until July 2018, Deputy Agriculture Minister Dzhambulat Khautov said. “The export duty on grain will be abolished in Russia until July 2018”, he said. Khautov said that the ministry’s proposal to abandon the Russian wheat export duty had been approved at a meeting held by Deputy Prime Minister…
As of August 29, Russian agrarians continued harvesting grains and pulses. Agrarians harvested grain crops throughout the general areas of 30.8 million ha (on the same date in 2015 – 25.7 million ha), or 65.3% of the planned areas (47.3 million ha). The produced volumes reached 89.3 million tons of grains, with the average yield…
The Russian central bank could reduce its key rate at the next meeting on September 16, CEO of the country’s biggest lender Sberbank German Gref said. “If inflation goes down, there are chances”, Gref said. The board of directors of the ruler decided on July 29, to keep the interest rate at 10.5% after a…
According to official data, as of August 26, Russian farmers had threshed 29.2 million ha (61.9%) of grains and legumes against 25.7 million ha on the same date in 2015. 86.2 MMT was harvested with average yield of 2.95 MT/ha (in 2015 – 69.3 MMT with 2.7 MT/ha). Wheat was threshed from 18.1 million ha…
Ukrainian President Petro Poroshenko has stated that the investors from the South-East Asia are willing to invest in the Ukrainian economy. The President said this at the meeting of the National Council of Reforms. “We have not only European investors. Our talks during the visits to the South-East Asia show that today the investors are…
Plans have been made to implement a pilot project of the United Nations Organization to develop social entrepreneurship in several areas in Grodno region. The information was released during the latest meeting of UN Resident Coordinator in Belarus Sanaka Samarasinha and Grodno region Governor Vladimir Kravtsov. Sanaka Samarasinha explained: “It is a new project that…
Kazakhstan intends to gather over 100 participating countries and over 5 million visitors during the EXPO 2017 that will take place in Astana, the Ambassador Extraordinary and Plenipotentiary of Kazakhstan to Belarus Yergali Bulegenov said. As many as 97 countries and 18 international organizations have confirmed they are going to participate in the EXPO 2017.…
In 2016 Moldova will decrease the harvest of sunflower seed by 30-40% compared with the previously expected indices, due to weather conditions, the Ministry of Agriculture and Food Industry of Moldova declared. Agrarians noted that the oilseed yield dropped below 2 tons/ha, while the previously expected level totaled 3.5 tons/ha. July drought and heat became…
The CIS financial and economic forum will take place in Minsk in October, head of the CIS election observation mission Sergei Lebedev said. “The financial and economic forum will be held as part of the meeting of the CIS Heads of Government Council in Minsk. Almost every member state expressed its readiness to take part”,…
In Kazakhstan oilseeds planted area for 2016/2017 crop increased to 2118 thousand ha compared to 2101 thousand ha last year.
Planted area approached the 2014/20015 season’s level, when the acreage reached all-time high at 2413 thousand ha. Despite rains, weather conditions allowed farmers to conduct seeding within optimum time. (UkrAgroConsult/Business World Magazine)
National Iranian Oil Company (NIOC) has signed oil contracts with a range of companies, including Russian oil producer Lukoil.
Other companies included OMV, Total and Pertamina.
Earlier in August, Russian ambassador to Iran Levan Dzhagaryan said Lukoil was considering development of two deposits near the Iranian city of Ihvaz. (Prime/Business World Magazine)
Belarus’ move to adopt International Financial Reporting Standards (IFRS) and clarifications on January 1, 2017 will contribute to increasing the transparency of Belarus’ corporate sector for investors and creditors, Pavel Laschenko, EY Belarus Managing Partner, believes. The IFRS standards will acquire the same legal status as guidelines and provisions of the Finance Ministry of Belarus…
The government’s committee for economic, financial and legal policy has approved of a list of enterprises to be privatized in 2016-2017, among them are Turboatom, Electrotyazhmash, the United Mining and Chemical Company, the State Food and Grain Corporation, and a state stake in Zaporozhye Titanium and Magnesium Combine LLC. A respective draft resolution was approved…
Since the start of the year the Belarusian mechanical engineering company Gomselmash has delivered 150 grain and forage harvesters to Ukraine, up by 50 vehicles YoY, the First Deputy Director of the company’s regional sales department Igor Korotkevich reported. The exports mainly consisted of grain harvesters, including KZS-1218, KZS-812 that have already made a good…
Member states of the Eurasian Economic Union (EEU – Russia, Belarus, Kazakhstan, Armenia, Kyrgyzstan) plan to launch a single market of medical goods and medications in 2016, Anton Azarov of the Eurasian Economic Commission’s Department for Integration and Development said in a statement. According to him the EEU is due to launch a single market…
ZAO Belarusian Oil Company (BelOil) – a designated exporter of Belarusian petroleum products – is determined to promote direct shipments of petroleum products to the end customer as opposed to shipments via seaports, a source in the profile ministry said. BelOil’s strategy is to sell a maximum of its products on high-premium markets of the…
In H1 2016 resident companies in Belarusian free economic zones (FEZ) secured a surplus of foreign trade in merchandise as large as $452.6 million, up by 14.6% YoY, the National Statistics Committee of Belarus reported. In H1 2016 their merchandise export reached $1,718.3 million, up by 2.1% YoY. The top exports were tires, mixed mineral…