Sistema: Detsky Mir Stake Sale Cancelled
Russian business conglomerate Sistema said on Wednesday the offering of Detsky Mir shares had been cancelled, after its stake in the country's largest toy retailer was frozen by court at the request of Rosneft. "Due to investor concerns triggered by…
Sistema: Rosneft Lawsuits Merely Offset Bashneft Costs
Russia's Sistema said on Thursday state oil company Rosneft was using lawsuits against the conglomerate to offset the cost of Rosneft acquiring mid-sized oil company Bashneft. The company has had no talks with Rosneft about an amicable settlement of the legal dispute…
Trelleborg Suite Supplied to Prelude FLNG
Trelleborg’s marine systems operation has supplied a suite of products to Shell’s Prelude FLNG facility, the largest offshore facility ever constructed. Prelude, which is 488 meters long, 74 meters wide, and made with more than 260,000 tons of steel…
Sistema to Pay Rosneft $2.3 Bln in Damages
A Russian court ruled on Wednesday that conglomerate Sistema should pay more than 136 billion roubles ($2.3 billion) to oil major Rosneft in a dispute over oil producer Bashneft. Sistema controlled Bashneft until 2014 when the government seized its stake, saying Bashneft's privatisation had been illegal.
Rosneft Files Lawsuit Against Sistema
Russian oil major Rosneft filed a lawsuit on Tuesday seeking 106.6 billion roubles ($1.87 billion) from business conglomerate Sistema over assets Rosneft says were removed from oil company Bashneft, Russian news agencies reported. Rosneft bought a controlling…
Russia's Bashkortostan May Get 25 pct Stake in Bashneft
Local authorities in Russia's Bashkortostan region may be given a 25 percent stake in mid-sized oil firm Bashneft, Alexei Texler, Russia's deputy energy minister, said on Wednesday. Russia's Federal Agency for State Property currently has a stake of almost 74 percent in Bashneft, once owned by Sistema .
Russia Extends Yevtushenkov House Arrest
A Russian court extended the house arrest of Vladimir Yevtushenkov, chairman of the Sistema business conglomerate, on Friday for four months. Yevtushenkov, one of Russia's richest men, was placed under house arrest on suspicion of money laundering related to Sistema's acquisition of Bashneft, an oil producer.
Central European Spot Power Mixed as Prices Converge
Central European day-ahead power prices converged on Tuesday as limited nuclear supply lifted Czech and Slovak prices, while increased import capacity helped push Hungarian prompt power lower, traders said. On regional exchanges, Czech electricity for…
Russia to Seize Bashneft Shares
Russia moved to seize shares in Bashneft from a billionaire businessman on Thursday over what a court said was the oil producer's "improper privatisation", deepening investors' fears that the Kremlin wants to reclaim prized assets. Moscow's Arbitration Court ruled in favour of prosecutors…
Rosneft CEO: No Plans to Buy Oil Assets in Russia
Igor Sechin, chief executive of Russia's top crude oil producer Rosneft, said on Thursday he does not see any oil assets inside the country that could be an attractive purchase for the company. Last month's seizure by a Russian court of shares in oil company Bashneft…
Bashneft: Operations Unaffected After Court Seized Sistema-Owned Shares
Russian oil company Bashneft says its operational activity has not been affected after a Moscow court seized shares owned by its parent-company oil-to-telecoms conglomerate Sistema. Sistema is controlled by oligarch Vladimir Yevtushenkov, who is under…
Russia Moves to Take Sistema
Sistema's main owner is under house arrest; faces charges over acquisition of Bashneft. Investors fear more state intervention in economy. Russia moved to wrest control of an oil company from oligarch Vladimir Yevtushenkov on Friday, seizing his conglomerate…
Russian Businessman Freed From House Arrest
Russian billionaire Vladimir Yevtushenkov was freed from house arrest on Friday, a company spokeswoman said, but the tycoon will have to stay in Russia to face money laundering charges over a deal to acquire a regional oil company. There were conflicting…
Sistema Says Restrictions on Bashneft Shares Expanded
Russian oil-to-telecoms conglomerate Sistema said it had been notified of new restrictions on selling its shares in mid-sized oil producer Bashneft, which hamper plans for a share offering in London. Sistema said on Wednesday that the OJSC REESTR registry had notified its subsidiary…
Bashneft IPO in Doubt After Share Restriction Notice
Plans by Russia's mid-sized oil producer Bashneft to list its shares in London this year look to be in doubt after its owner, Sistema conglomerate, said it received a notice about a restriction on share transactions, analysts said. Bashneft has been…
Cooler Temperatures, Less Wind Output Lift Spot Prices
Expectations of higher demand due to cooler temperatures and falling renewable supply lifted central European day ahead power on Monday with mild weather likely to limit spot price gains during the week, traders said. On regional exchanges, Czech and…
