Russia’s Reserve Fund, which protects the budget against falls in oil prices, decreased by 15.7% in August to $32.2 billion as of September 1, the Finance Ministry said in a statement. The National Wealth Fund, designed to secure the country’s pension system, rose by 0.7% to $72.71 billion. In ruble terms, the Reserve Fund fell…
DetailsOver 40 import contracts on the deliveries of defensive equipment for the Ukrainian army, with their total value of $1.5 billion, are currently carried out. Ukrainian President Petro Poroshenko said this during his annual address in the Verkhovna Rada on September 6. “We praise the support from the side of our western partners. Over 40…
DetailsThe 2015/2016 grain season is coming to an end in Kazakhstan (September 2015 – August 2016). High exports of basic grain crops and flour, was the main feature of the 2015/2016 marketing year in Kazakhstan, as well as in Ukraine and in Russia. However, in case of Kazakhstan, grain shipments did not reach all-time high,…
DetailsIn August 29 – September 4, export volumes of grains from the Russian seaports reached 637.1 thousand tons, against 203.1 thousand tons shipped in the previous week.
In particular, wheat shipments totaled 595.2 thousand tons, barley – 26.7 thousand tons, and peas – 15.2 thousand tons. (APK-Inform/Business World Magazine)
In July large and medium-sized enterprises of Ukraine produced 193 KMT of sunflower oil compared to 285 KMT in June and 207 KMT in July 2015. Since the beginning of the season sunflower oil production has totaled 3543 KMT, up by 77 KMT or by 2% YoY. This season (September-July) small enterprises are expected to…
DetailsAccording to preliminary figures of the association Ukroliyaprom, in 2015/2016 MY the production and export volumes of sunflower oil in Ukraine increased by 10% to 4.85 million tons and 4.4 million tons respectively, the press-service of the Association declared. According to the announcement, increasing of sunflower seed harvest in the country caused the reporting growth…
DetailsBelarus finished rapeseed sowing for 2017 harvest. According to Belarus AgMin farmers will increase rapeseed sowing area to 360 thousand ha. As of August 31, sowing has been carried out at 332.1 thousand ha or 92.3% from the total sowing area. Last year sowing area of rapeseed 264 totaled thousand ha. (UkrAgroConsult/Business World Magazine)
E.ON Connecting Energies LLC (ECE) – a joint venture of Unipro PJSC and E.ON Connecting Energies GmbH – launched an 800 kW combined heat and power plant (CHP) at the METRO shopping centre in Nizhny Novgorod. The CHP will heat the store and meet a portion of its electricity needs. The ECE experts developed a…
DetailsAs of September 1, cargo traffic within the Azov-Don Basin of Russia’s inland water ways climbed by 4% YoY, to 6,207,000 tons, says the Administration of Azov-Don Basin. In the reported period, transportation of heavy fuel oil fell by 8.8%, to 1,954,000 tons, that of sulfur went up by 19% to 1,002,000 tons, of diesel…
DetailsBridgestone Corp. plans to launch a 12.5 billion ruble tire plant in the city of Ulyanovsk in September, the government of the region said in a report. “Bridgestone’s first Russian and CIS tire plant will be launched on September 13, on the territory of industrial park Zavolzhye in Ulyanovsk. Deliveries of the produced goods, radial…
DetailsAgrarians of Belarus started the mass planting campaign of winter grains, the Ministry of Agriculture and Food of the Republic of Belarus declared. As of the reporting date, all regions of the country planted grains throughout the areas of 93 thousand ha, or 6.9% of the plan. The general planned areas for winter crops planting…
DetailsArmenia has banned imports of pigs and pork from Ukraine, the Ukrainian Agrarian Confederation reports. “The ban on imports implied to pigs and pork, as well as the whole genetic materials of livestock: bristles, intestinal materials, leather, various raw materials, and pork products as well as hunting trophies”, reads the report. In addition, Armenia imposed…
DetailsTraders are not glad with prices in the new season. World grain production continues to set new records, and puts pressure on prices. CBOT wheat futures fell to a ten-year low affecting the Black Sea export prices. Compared with early September 2015, grain prices lost no less than $10/MT. Given that Ukraine exports more than…
DetailsAccording to official statistics, in July Ukrainian barley exports rose by 19% YoY. In July Ukraine exported about 1011.6 KMT against 848 KMT in July 2015. More than half of the exported barley was shipped to Saudi Arabia. Large share of barley was exported to Libya (148.3 KMT) and China (90.2 KMT). Peculiar in the…
DetailsThe Ministry of Economic Development and Trade (MEDT) of Ukraine opens competitive selection for CEO positions at state-owned companies Ukrkhimtransamiak (operator of ammonia pipeline), Elektrovazhmash (electric machinery producer), Mariupol Commercial Seaport and Boryspil International Airport. The ministry has invited reputable recruiting agencies to help find top-class managers with an impeccable reputation and successful track record…
DetailsAzerbaijan’s state oil company SOCAR was focused on diversification of its investments even when the oil prices were high, and this strategy would ensure stability of the company’s revenues, President of SOCAR Rovnag Abdullayev said. “As a result of the right investment strategy, the value of SOCAR’s total assets increased from 9 billion manats to…
DetailsThe Belarusian mechanical engineering company OAO Gomselmash is getting ready to ship a batch of cotton harvesters to Cameroon. It will be the first shipment of agricultural machines to the remote African country, Yuri Rafayev, Head of the Non-CIS Sales Office at Gomselmash, said. According to him, the Belarusian company has been able to enter…
DetailsAzerbaijani state oil company SOCAR is not going to abandon the purchase of a share in the Greek gas operator DESFA, President of SOCAR Rovnag Abdullayev said. “We won the tender and we’re not going to abandon the deal [with DESFA]”, Abdullayev said. “We don’t talk about appealing to a court, but we will defend…
DetailsPresident of Azerbaijan’s state oil company SOCAR Rovnag Abdullayev took part in the opening of a gas distribution network in Girikhli village of Marneuli region in Georgia. Abdullayev, who was on a visit to Georgia, took part in the event together with the country’s Energy Minister Kakha Kaladze. As many as 259 users have been…
DetailsThe Russian government can raise about 700 billion rubles from privatization of the oil major Rosneft, Economic Development Minister Alexei Ulyukayev said. “I think that Rosneft has always been a priority because it is larger, more expensive, has more value to the budget. This is about 700 billion rubles which we can receive this way…
DetailsThe passenger traffic of Russian airlines can decline by up to 10% in 2016, Transport Minister Maxim Sokolov said. “The domestic market has increased significantly. The growth was about 6%, according to the data as of now. But still, the correction will be up to 10% due to a catastrophic fall of international traffic”, Sokolov…
DetailsFirst Shah Deniz 2 platform jacket sail is an important milestone and great achievement, Shah Deniz 2 projects Vice President Ewan Drummond said. “The first jacket sail away is an important milestone and we are pleased to have achieved this as we move towards completion of other areas of the project”, Drummond said. “I take…
DetailsAzerbaijani state oil company SOCAR is not in talks with the Russian Gazprom company on gas purchases, President of SOCAR Rovnag Abdullayev said. He said that SOCAR sent offers to the Gazprom, on the basis of which Azerbaijani state oil company could buy Russian gas, but currently no talks were being held. Earlier, Director General…
DetailsThe Azerbaijani state oil company SOCAR is supplying liquefied natural gas to new buyers. “SOCAR will possibly start “pure trading” in the next five years”, Arzu Azimov, chief executive officer of Geneva-based Socar Trading, said. “Until then it will focus on projects that involve using LNG to generate power in nations from Africa to Southeast…
DetailsTurkey attaches special importance to the development of the traditionally friendly and fraternal relations with Turkmenistan, Ahmet Arslan, Turkish minister of transport, maritime affairs and communication, said. Arslan made remarks at a meeting with Turkmen President Gurbanguly Berdimuhamedov in Ashgabat. The sides expressed confidence in further development of the interstate cooperation, which was initially based…
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