Bob Dudley gets another chance to succeed in Russia’s oil market January 17, 2011 BP’s latest attempts to expand in Russia will be a chance for chief executive Bob Dudley to mend his relationship with the country, following his troubled time as president of TNK-BP, the firm’s ongoing joint venture in the country. Dudley was forced to leave Moscow in 2008 when his visa was not renewed, following a [...]
UK listing for Severstal gold mining group January 17, 2011 RUSSIAN steel company Severstal yesterday announced plans to float its Nord Gold unit in London to raise more than $1bn (£629m). It values the company at over $4bn. The premium listing of at least 25 per cent of the gold miner is set to be the biggest mining float since Nate Rothschild’s $1bn offering of [...]
Russian billionaire’s stellar rise to the top January 17, 2011 AS THE SON of Soviet-era mill workers, Alexey Mordashov’s rise to become one of the richest men on the planet has been astronomical. The steel baron in charge of Russia’s second largest steel producer and gold miner Severstal, in which he has a controlling share, rose from humble beginnings to become one of the world’s [...]
Vimpelcom bid threatens Telenor ties January 17, 2011 NORWAY’S Telenor raised the prospect of yet another legal fight and the possibility of severing ties with Vimpelcom over a proposed bid by the Russian firm for Egyptian tycoon Naguib Sawiris’ telecoms assets. Telenor said yesterday it was disappointed by Vimpelcom’s board approval of a revised bid for Italy’s Wind and Cairo-based Orascom Telecom from [...]
Russians hold the key to the coolest sushi spot in Mayfair January 17, 2011 Sumosan 26 Albemarle Street, W1S 4HY Tel: 020 7495 5999, www.sumosan.com FOOD SERVICE ATMOSPHERE Cost per person without wine: £40 ALMOST entirely lacking the fanfare of Nobu, Roka and Zuma, Sumosan is nevertheless one of the best Japanese dining spots to name drop. It certainly ticks the boxes: a Russian-operated, clubby restaurant in the heart [...]
Mid morning wrapup January 17, 2011 Oil giant BP saw its shares rise by two per cent this morning as its deal with Russian company Rosneft for arctic exploration boosted the stock. Analysts said the tie-up with state-controlled Rosneft opened up massive reserves in the arctic, a region they said was believed to contain one fifth of the world’s undiscovered oil. [...]
BP shares up after Rosneft exploration deal January 17, 2011 Shares in BP rose two per cent following the share swap and arctic exploration deal that the London-based oil major signed with Russia’s largest oil producer Rosneft late on Friday. Analysts said the deal with state-controlled Rosneft opened up massive reserves in the arctic, a region they said was believed to contain one fifth of [...]
BP’s Russia deal comes under fire January 16, 2011 BP’S HISTORIC tie-in with Russia’s state oil company came under intense scrutiny yesterday, as politicians and businessmen piled in to examine the merits and dangers of the deal. The share swap, announced late on Friday, sees BP hand a five per cent stake to Rosneft in exchange for a 9.5 per cent holding in the [...]
BP deal with Russia sparks controversy January 16, 2011 CONCERNS grew yesterday about the political implications of BP’s $16bn (£10bn) share swap with Russia’s state-owned oil firm Rosneft. Shadow justice minister Chris Bryant said in an interview that BP needs “a strong anti-corruption” strategy to work with the company. Labour leader Ed Miliband said he was “pretty worried” about the environmental aspect of the [...]
BP in deal talks with Russia’s Rosneft January 14, 2011 ENERGY giant BP is in talks with Russian state-owned oil company Rosneft over a possible deal, it has announced. BP, which owns 1.4 per cent of Rosneft, has called an emergency press conference at its London headquarters at 9pm tonight to announce full details of the deal. Reports have suggested the deal would be in [...]