With oil's price collapse, we can now declare that OPEC's reign as king of the market is over.» Read More
Oct 12- Fitch Ratings has affirmed the Long-term Issuer Default Ratings of Russia's Home Credit and Finance Bank at' BB-', and thereby resolved the Rating Watch Positive on the ratings. Fitch placed HCFB's ratings on RWP on 23 May 2012, reflecting the view that the bank's stand-alone credit metrics warranted a higher rating than the' BB-' level.
LONDON, Oct 12- Russian Urals crude extended its rally on Friday, trading in the Baltic at a discount of less than $1 a barrel to dated Brent for the first time since late August, as refiners scrambled to pick up remaining scarce volumes. In the Platts window, BP continued to bid for an Oct 22-26 cargo in the Baltic at dated Brent minus $1 but found no sellers, traders said.
LONDON, Oct 12- Russian oil firm TNK-BP will likely award its 2013 crude sale tender to six oil companies and trading houses, up from three last year, effectively diluting the influence a buyer can have on prices, trading sources said on Friday.
WASHINGTON, Oct 11- The U.S. military could act pre-emptively if it detects an imminent threat of cyber attack, U.S. Defense Secretary Leon Panetta said on Thursday, urging stronger action to bolster America's defenses against such plots. He said a presidential executive order was being considered "while we wait for Congress to act."
SINGAPORE, Oct 12- U.S. crude rose towards $93 a barrel on Friday, supported by escalating tensions between Turkey and Syria and supply disruptions at North Sea oil fields. climbed 25 cents to $92.32 a barrel in early Asia trading, after gaining nearly a dollar the previous session.
Magistrate George Hanks Jr. in Houston ordered Alexander Fishenko and two other defendants to federal custody in Brooklyn, N.Y., where they face numerous charges. Fishenko, owner of Houston- based Arc Electronics Inc., and seven of his employees were arrested last week. Another man arrested in Houston, Shavkat Abdullaev, waived the bail request.
*Turkey, Syria fighting reinforces worry over Middle East supply. NEW YORK, Oct 11- Oil prices rose on Thursday to their highest levels in weeks as tensions between Syria and Turkey escalated, while maintenance on North Sea oilfields pushed the premium for Europe's Brent crude to another one-year high.
*Greece's biggest company CCH quits for Switzerland. that it was switching its primary listing from Athens to London and moving its corporate base to stable, low-tax Switzerland is a bitter blow to the debt-crippled nation.
ALGIERS, Algeria-- Algeria's Finance Ministry and central bank have announced the country is contributing $5 billion to the International Monetary Fund. In April, Algeria said the IMF had asked for Algeria's participation in the international lending institution. Algeria is the third largest supplier of natural gas to Europe after Russia and Norway.
MOSCOW, Oct 11- MegaFon said the make-up of its board would reflect its focus on good corporate governance, as it sought to attract investors for its planned initial public offering after Goldman Sachs dropped out as an underwriter.
*BP may sell TNK-BP stake to Rosneft, AAR may stay or sell. MOSCOW, Oct 11- The head of upstream at Russian oil firm TNK-BP will leave the company, the highest-ranking executive to depart in an exodus of staff as a potential sell-off by its main shareholders looms, sources close to TNK-BP said on Thursday.
*Turkey, Syria fighting reinforces worry over Middle East supply. NEW YORK, Oct 11- Oil prices rose on Thursday as tensions between Syria and Turkey escalate, reinforcing concerns about risks to the region's supply, and maintenance curbs on North Sea output continue.
MOSCOW, Oct 11- The head of upstream at Russia's TNK-BP will leave the company, the highest-ranking executive to depart in an exodus of staff as a potential selloff by the main shareholders looms, sources close to TNK-BP said on Thursday. Alexander Dodds joined TNK-BP from ExxonMobil Qatar, where he had served as president, in October 2011.
*Plans to maintain plants in Greece but most activity abroad. ATHENS, Oct 11- Greece's biggest company, Coca Cola Hellenic, is leaving the country, the drinks bottler said on Thursday as its move to Switzerland and a London listing for its shares dealt a blow to the crippled Greek economy.
BAKU/ LONDON, Oct 11- Azerbaijan accused BP on Wednesday of making "false promises" on oil output and said the state had missed out on $8 billion of potential revenues from what is one of the company's biggest projects in the world.
Oil prices rose Thursday as tension between Turkey and Syria raised concerns that crude oil supplies from the Middle East could be disrupted. On Thursday, Turkey claimed that it forced a Syrian passenger plane to land because it was carrying banned cargo from Russia.
MOSCOW, Oct 11- Russian private healthcare provider MD Medical Group will sell shares at no less than $12 per global depositary receipt at its London initial public offering later this month, financial market sources said on Thursday.
MOSCOW, Oct 11- Russian stocks edged up on Thursday, shrugging off morning losses as escalating tension over Syria pushed up oil prices, which also helped lift the rouble and Russian bond prices. Russia's markets were lifted by a rising oil price, on a day when Turkey intercepted a Russian plane bound for Syria, provoking a diplomatic row between Moscow and Ankara.
KAYSERI, Turkey, Oct 11- Syria had stopped electricity imports from Turkey while it repairs its power network and there is no political reason for the interruption of the supplies, which last year met a fifth of Syrian needs, Turkish officials said.
*Greece's biggest company, bottler CCH, quits for Switzerland. ATHENS, Oct 11- Greece's jobless rate topped 25 percent and its biggest company said it would quit the country on Thursday in a fresh blow to an economy that German experts warned cannot be "saved" without writing off more debt.