Gazprom Plans 500 Mln Swiss Franc Eurobond
Russia's Gazprom plans to issue a five-year Eurobond worth 500 million Swiss francs ($533.62 million), the Interfax news agency reported on Tuesday, citing financial market sources. Gazprom has mandated Gazprombank, Renaissance Capital, UBS and VTB Capital to arrange meetings with bond investors in Geneva and Zurich from Monday…
Russian Oil Industry Pipe Maker TMK Prepares for U.S. Spin-off
TMK, Russia's largest maker of steel pipes for the oil and gas industry, is preparing its U.S. subsidiary IPSCO Tubulars for an initial public offering (IPO) of shares. The announcement comes amid concerns among some Russian officials about a potential expansion of U.S.
TMK Reviews Options for US Assets
TMK, Russia's largest maker of steel pipes for the oil and gas industry, is considering different options for its U.S. subsidiary IPSCO but intends to keep a controlling stake in the firm, it said on Tuesday. On Monday, TMK IPSCO told Reuters that it did not plan to sell…
Russian Tycoon Deripaska's En+ Considers IPO in 2017
En+ Group, a holding company for Russian tycoon Oleg Deripaska's assets, is considering conducting an initial public offering in 2017, two banking sources and one industry source told Reuters on Thursday. En+ holds assets in metals and mining, energy and coal, including a 48 percent stake in Rusal…
Rosneft Cannot Buy Bashneft - Russian Dy PM
Gas and oil giant Rosneft cannot take part in the privatization of state company Bashneft, Deputy Prime Minister Arkady Dvorkovich said Thursday. Dvorkovich told Russian newspaper Vedomosti that Rosneft would be excluded from the deal as the Kremlin indirectly controls the firm through parent company Rosneftgaz.
Sovcomflot Revises Pricing on USD 7-year Bond
Russian shipping company Sovcomflot has cut the yield on its seven-year U.S. dollar bond to 5.375 percent - 5.5 percent, according to a lead. The notes will price within that range. The latest level compares with guidance of 5.625 percent area and initial price thoughts of 5.75 percent area.
MIDEAST STOCKS: Oil's Retreat May End Gulf Rally
A rally on Gulf stock markets, which was already running out of steam on Sunday, may end on Monday after oil prices pulled back again and Chinese stocks dropped. Brent crude has fallen 1.8 percent to $49.16 per barrel in Asian trade on Monday morning as market players take profits after last week's rebound…
Russian Assets Surge as Oil Takes Off
Russian assets jumped on Thursday, supported by a lift-off in the oil price and rally on international markets, helping to erase the impact of a plunge in global shares earlier in the week. At 1515 GMT, the rouble was 3.7 percent stronger against the dollar at 66.25 and up 4.3 percent to 74.41 versus the euro.
Russian Assets Sink on Oil price Collapse
Russia's rouble and shares hit new lows on Friday as oil prices collapsed after OPEC decided to leave its output unchanged despite heavy oversupply. At 1000 GMT, the rouble was around 2.2 percent below the previous close at 49.72 roubles per dollar, and 1.7 percent weaker against the euro at 61.94 roubles .
Brent Steady, US Crude up on Supportive Economic Data
Brent crude futures ended flat on Friday as improving supply and concerns about tepid demand for oil in Europe and China offset concerns about the Middle East conflicts, while U.S. crude rose on supportive economic data from the United States. Brent's premium to U.S. crude…
Oil Prices Fall on Sluggish Demand, Ample Supply
Crude oil futures fell on Monday as ample supply and slowing economic growth in Europe and China outweighed expectations of a cut in oil output from the Organization of the Petroleum Exporting Countries (OPEC). Concerns over extended stagnation in Europe, which could pull down other economies…
Oil Below $98, Demand Sluggish, Ample Supply
Weak economic outlooks in Europe, China weigh; Investors look past possible OPEC output cut. Libya fighting closes refinery, cuts oil output. Brent crude oil fell below $98 a barrel on Monday, dropping for the third session in four, as sluggish demand and ample supplies…
Oil Hits Two-year Low Below $97
Brent crude dropped to a two-year low below $97 a barrel on Thursday, falling for a sixth straight session as mounting supply and weak demand outweighed speculation that conflicts in the Middle East could curb oil production. North Sea crude oil hit a high above $115 in June as Islamist insurgents swept across northern Iraq…
Brent Oil Back Below $100
Brent crude oil prices fell back below $100 per barrel on Tuesday in volatile trade, down for a fourth day and under pressure from strong supplies. Prices were not far above a recent 16-month low as feared cuts to supply due to violence in the Middle East have failed to materialise.
Oil Slips on Surprise ECB Rate Cut
Crude oil futures traded lower on Thursday after a surprise rate cut from the European Central Bank boosted the dollar and hit commodities priced in the U.S. currency. The ECB cut interest rates to a record low, unexpectedly bringing borrowing costs close to zero to lift…
Oil Climbs Toward $102, Rebounds from 16-month Low
Oil climbed towards $102 a barrel on Wednesday as the market bounced off a 16-month low hit in the previous session, although ample supplies and lingering demand worries limited the rally. A weaker dollar and expectations of a decline in U.S. crude stocks supported oil prices…
Oil Falls toward 14-month Low
Brent crude oil fell below $102 a barrel on Thursday, near a 14-month low, on plentiful fuel supplies and as Chinese economic data pointed to slowing demand, although prices steadied in early U.S. trading. U.S. crude oil prices fell to the lowest since January below $93…
Lower Oil Price Adds to Russian Economic Woes
Urals oil price falls below $100 per barrel; short-term impact on Russia limited by conservative budget. Long-term fiscal risks mount. A fall in the price of Urals crude oil, the benchmark on which Russia bases its budget calculations, is adding to the government's problems…
Oil below $103 on Easing Geopolitical Risks, Supply
Libya raises oil output to 535,000 bpd; Oil price fall follows spike on Friday. Oil fell more than $1 a barrel to trade below $103 on Monday as investor concerns over conflict in Ukraine and Iraq eased, and as higher Libyan oil output added to already ample supplies. Crude…
Brent Dips Below $108, Market Well-Supplied
China July factory sector grows at fastest pace in 18 months; weak demand from European refiners creating contango. Brent crude dipped below $108 a barrel on Thursday as unseasonably weak demand from European refiners and plentiful supplies offset strong Chinese factory data.
