International energy prices will start growing very soon, Russian gas giant Gazprom CEO Alexei Miller said at an International Gas Forum. “The current level of international prices does not allow the world’s economy to solve tasks that may be solved only with the help of gas. And this means that we will definitely see a…
DetailsRussia is in general ready to back a freeze of oil production, Economic Development Minister Alexei Ulyukayev reported. “We’ve already said that we are ready to support efforts in freezing oil production. The level of the freeze is a question that has to be discussed, but in general we are ready to support the idea”,…
DetailsDTEK Energy Operating Company in the framework of restructuring its loan portfolio will transfer Obukhovskaya mine directorate (the Russian Federation) together with borrowings of $436 million to DTEK strategic holding for direct control. According to the press service of the holding, this will allow to reduce the loan portfolio of DTEK Energy that will improve…
DetailsBritain’s Crown Agents will not be able to supply three out of 214 pharmaceuticals from the procurement list bought using 2015 national budget funds. There is no alternative to the drugs in Ukraine today. Crown Agents reported that Lamivudinum (1,200 mg, 69th on the list) would not be bought due to the impossibility of buying…
DetailsVTB Capital, an investment advisor in privatization of the government’s 50.08% stake in Russian oil company Bashneft, has recommended selling the stake in a single lot, Economic Development Minister Alexei Ulyukayev said. “The advisor’s recommendation is a sale in a single lot”, he said. “We are completely ready for that, and I mean VTB Capital,…
DetailsThe downward trend in Ukrainian export market changed to some price growth. Last week wheat export prices strengthened. The prices for 2nd grade wheat (12.5% protein) grew by $1 to $168-170/MT FOB, while 3rd grade wheat prices (11.5% protein) reached $161-164/MT FOB for October delivery. Some recovery of importers’ demand for October-November was observed on…
DetailsUkrainian broiler meat production is growing even faster than thought, thanks to record exports and steady consumer demand, US officials said. The improving economic situation in Ukraine is allowing producer to up their output, and the bumper grain harvest this year will help margins next year, the US Department of Agriculture’s Kiev bureau said. The…
DetailsRussia’s Natural Resource and Environment Ministry and the U.N. have approved the first document that will bring the country’s classification of oil and gas resources closer to the U.N. classification, the ministry said in a statement. This document has become the first document that has tied the U.N. framework classification with a national system. The…
DetailsUkraine is waiting for the fourth tranche of the U.S. government-secured $1 billion. “Along with the proposal on technical assistance we hope to continue cooperation in getting the new U.S. government-secured $1 billion. The credit guarantees are used to settle urgent needs of the budget and they are provided at very low rates after the…
DetailsThe government is making all necessary steps to ensure that over the next 4-5 years Ukraine could become a country with a strong national economy, Prime Minister of Ukraine Volodymyr Groysman announced during the opening ceremony of electrical equipment and automotive parts plant of the Fujikura company in the Lviv region. The Prime Minister stressed…
DetailsIn August large and medium-sized enterprises produced 11.5 KMT of margarine against 15.7 KMT in the previous month. August volume was almost in line with production in August 2015 (11.6 KMT). The lag is only 0.1 KMT, which is minimal in January-August. Since the beginning of 2016 (January-August) Ukrainian enterprises produced 108.2 KMT against 128.8…
DetailsThe last week of September has come to the end with moderately warm weather conditions and low amount of precipitations. Average air temperature was within +9.5 ..+13.9 C, down by 1-6 C from the norm. In the northern regions temperature of upper soil layer lowered to -2 C in some places. Precipitations did not replenish…
DetailsUkraine and Netherlands agreed to strengthen cooperation in the sphere of internal waterways development and port infrastructure. According to the results of meetings with Ministry representatives and Ambassador of Netherlands in Ukraine, agreements were reached concerning the visits of responsible Ukrainian ministry representatives to the Netherlands so as to gain experience in internal waterways management.…
DetailsOn October 3, Ukraine and Korea held a sitting of the joint governmental commission for trade and economic cooperation. First Deputy Economic Development and Trade Minister Yulia Kovaliv posted this on her Facebook page. “I’ve opened the Ukrainian-Korean business forum. Main messages for the Korean business: the Ukrainian government is open for investors and business,…
DetailsOn September 26 – October 2, Ukraine exported 1.02 million tons of grains from the seaports, against 648.4 thousand tons on the previous week.
In particular, wheat shipments reached 804 thousand tons, barley – 153.8 thousand tons, and corn – 65.7 thousand tons. (APK-Inform/Business World Magazine)
On September 30, the minister of Agrarian Policy and Food of Ukraine Taras Kutovyi signed the Annex #1 to the Memorandum of Understanding between the Ministry of Agrarian Policy and market participants – grain exporters for 2016/2017 MY. The document settles voluntary coordination of the possible volumes of grain exports from Ukraine in 2016/2017 MY,…
DetailsRussia’s Finance Ministry has suggested the government cut spending on a state agriculture program by 9.4% to 214.791 billion rubles in 2016, according to the ministry’s draft amendments to the 2016 budget published on the government’s web site for disclosure of legal information. The ministry also offered a 9.8% cut of financing of the state…
DetailsRussia’s Transport Ministry will prepare proposals to sale national flag carrier Aeroflot’s 75% minus one share stake in Rossiya Airlines by October 10, minister Maxim Sokolov announced.
“I think that the deadline for that is set for October 10, in accordance with the government ruling”, Sokolov said. (Prime/Business World Magazine)
The Russian government will resume preparations for a sale of its stake in oil company Bashneft and has launched the sale of 19.5% in oil major Rosneft, Deputy Prime Minister Igor Shuvalov said. “After an additional study of the privatization issue of Bashneft and Rosneft, the government decided to restart preparations for the sale of…
DetailsRussia has set a new record in oil production by increasing output by 4% MoM to 11.11 million barrels per day (bpd) in September, Reuters reported on October 2, citing the latest data of the Energy Ministry. Bloomberg also reported citing the data that Russia’s daily production of natural gas increased by 5.15% YoY and…
DetailsSince the beginning of 2016/2017 MY, and as of September 28, the volume of grain exports from Russia totaled 9.436 million tons, down by 3% YoY (9.777 million tons), the Ministry of Agriculture of the Russian Federation declared, referring to the data of the Federal Customs Service of Russia. According to the announcement, the wheat…
DetailsAs of September 1, Russian agro enterprises had 722.8 KMT of oilseeds, down by 94.2 KMT or by 11.5% YoY (817 KMT). In August oilseed stocks were 366 KMT higher. Agro companies had 245.4 KMT of sunseed, down by 29.4 KMT and by 10.7% YoY (274.8 KMT). In August sunseed stocks were 95.1 KMT higher.…
DetailsIn 2017 Russia will keep the general grain harvest at the level expected for the current year – 113-116 million tons, the Minister of Agriculture of the Russian Federation Alexander Tkachev declared. In accordance with the State program, in 2017 it is planned to produce 107 million tons of grains. However, the Ministry will try…
DetailsCancellation of the export duties on Russian wheat has to be unlimited, the Deputy Prime Minister of the Russian Federation Arkady Dvorkovich declared. According to him, the government canceled the customs duties for 2 years, but the officials do not plan to restore the duties at all. They requested grain exporters to set any possible…
DetailsRussian Internet giant Mail.Ru Group acquired 100% of mobile game developer Pixonic for $30 million, the group said. “We’re sure that we’ve been joined by one of the strongest teams of mobile game developers in the world. We’re confident that the merger will enforce the division of the international mobile development and release, and we’ll…
DetailsRussia and Belarus will discuss their natural gas dispute, but not a discount some time, Deputy Prime Minister Arkady Dvorkovich said. Belarusian President Alexander Lukashenko said earlier in September that Moscow and Minsk had almost agreed on the price of Russian gas supplies, but Yury Yaroshevich, minister-councilor of the Belarusian embassy in Russia, said shortly…
DetailsUkrainian President Petro Poroshenko has congratulated the Kyiv-based government-run Luch Design Bureau on its successful test of the Sarmat new remote weapon system with anti-tank missiles.
The head of state said that Ukrainian Armed Forces were the main guarantee of the country’s independence. (Interfax/Business World Magazine)