OAO Novatek gained the most in three weeks on a report China Petroleum & Chemical Corp., China’s biggest oil refiner, may sign an agreement to buy a stake in the Russian gas producer’s Yamal LNG project.
Ziyavudin Magomedov became a billionaire with the help of state contracts during the ascent of former Russian President Dmitry Medvedev, whose deputy was the businessman’s college friend. Now Medvedev is down, Vladimir Putin is up, and Magomedov’s fortunes are waning.
Russian President Dmitry Medvedev plans to submit orders this week to remove government officials as chairmen of state companies in industries they regulate, said Arkady Dvorkovich , his chief economic aide.
Russia’s government, holder of the world’s third-largest reserves, discussed buying Spanish sovereign debt at a meeting with Finance Minister Elena Salgado, said Arkady Dvorkovich, the Kremlin’s top economic adviser.
First Deputy Prime Minister Igor Shuvalov’s working group is expected to reach agreement on the duty removal measure with other Custom Union members, Kazakhstan and Belarus, in days, Deputy Prime Minister Arkady Dvorkovich told reporters after govt meeting today. * Implementation of duty-free grain imports regime is expected no later than in April if Customs Union approves the measure, “otherwise this won’t have any sense,” Dvorkovich says * Russia’s govt decided today to spend some additional budget funds on spring grain sowing that started in March and on support of animal farms, which suffered from record grain prices earlier this season, Dvorkovich says * Total agriculture financing will be up to 42b rubles, including 30b rubles for spring sowing and animal farmers’ support, he says
OAO Lukoil’s offshore development proposal aligns with govt’s vision, Russian Deputy Prime Minister Arkady Dvorkovich says in interview in Kommersant. * President Vladimir Putin to hold meeting on offshore energy rights for non-state companies, including Lukoil: Kommersant * Natural Resources Ministry wants cos with rights to offshore blocks to select which energy deposits to develop, then give up rights to any remaining deposits so other cos can be invited to explore: Kommersant