Mar
10
Daily Russian Gaz review - March 10, 2009
Filed Under Trader’s view |
Despite the coming long week-end and the unfavorable external background the trades opened rather positively at the Russian share market. Climbing continued almost all day long with small intermissions, when the market was lateral, but still no serious slips were indicated. Optimistic open of the American markets, due to statistics output that turned out being not worse than the market expected, might be indicated among the positive matters. The shares of oil-and-gas sector were among growth leaders. Along with that, we assume there actually was no reason for climbing.
Main Russian Gaz News
GAZ will reduce its staff in half.
GAZ group reduced its staff by 25% and by the middle of the year there is to remain almost half of the staff, that operated before the crisis.
Other Russian Gaz news
LUKOIL looses supplies.
Proved oil supplies of LUKOIL according to SPE-PRMS reduced in 2008 by 8% to 14.458 bn barrels from 15.715 bn barrels in late 2007, imparts the message of the company. The proved supplies of LUKOIL grew by 5% to 29,253 bn cubic feet. Supplies audit has been conducted by Miler and Lents.
NOVATEK reduced extraction to 83 mn cubic meters per day.
Extraction of the largest independent gas producer NOVATEK stabilized at the new reduced level, imparts Interfax, referring to CMD of FEC.
RusAl signed an agreement on time displacement of main debt discharge.
The united company Russian aluminum signed an agreement on time displacement of main debt discharge on the credits from international banks, from the coming two months to later times. Later on the parties might negotiate another one month delay.
AvtoVAZ disagrees with SOK.
AvtoVAZ, JSC suspended Samara group SOK from managing its largest subsidiary dealer holding Lada-Service, JSC, states Kommersant newspaper.
Daily Russian Gaz review - March 10, 2009 (PDF)