International rating agency Moody’s expects the Russian economy to rise by 1.5% in 2017 after a 1% fall in 2016, the agency said in a statement. In July, the agency expected Russia’s gross domestic product (GDP) to fall by 1.5% in 2016 and to rise by 0.5-1.5% in 2017. Moody’s also expects the asset quality…
Kaliningrad Railway is looking into launching a train for 40-foot containers from the Port of Gdansk (Poland) to Moscow and other regions of Russia via the Kaliningrad region, Victor Golomolzin, head of Kaliningrad Railway, said. According to him, this project can become an alternative to transportation of containerized cargo delivered to Gdansk from China and…
The joint venture of Power Machines and Toshiba will deliver transformer equipment for a 500 kV substation of ZapSybNeftekhim, a fuel and petrochemical refinery under construction in Tobolsk (part of SIBUR Holding PJSC) – Russia’s most ambitious petrochemical project. Power Machines – Toshiba. High-Voltage Transformers (PMTT), a Russian company established in 2011, with operational assets…
The share of hard-to-recover oil in Russia’s reserves has reached 65% of the total volume, according to a draft 2030 strategy for development of the country’s mineral resource base released by the Federal Mineral Resources Agency. The total amount of oil in place under the A, B and C1 categories in Russia exceeds 18 billion…
Ferryboat Baltijsk is planned to be returned to Ust-Luga-Baltijsk line in September, Andrei Moshkov, Deputy Director General of Rosmorport’s North-West Basin Branch referring to ferryboat operator Trans-Exim Ltd., said. Andrei Moshkov says the ferryboat’s engine is under repair. Ust-Luga – Baltijsk line was earlier serviced by three ferryboats: Baltijsk and Peterburg operated by Trans-Exim Ltd.…
Russia’s recession is not over yet and the gross domestic product (GDP) growth will be limited to 1-1.5% over next five years even if oil prices are high, the Analytical Credit Rating Agency (ACRA) said in a revised economic forecast until 2020. “The social and economic statistics for January-July shows that the recession is not…
Milling wheat price reduction was observed in Russian export market. Last week prices for milling wheat with 12.5% and 11.5% protein decreased by $1-2 to $171-172/MT FOB and $165-167/MT FOB in Novorossiysk port, respectively, for delivery in September. The world market was again the main factor of pressure. High supply of feed wheat and wheat…