Eastern Europe


  • By Robin Paxton and Mariya Gordeyeva ASTANA, Oct 2- U.S. oil major ConocoPhillips. Asked on Tuesday whether ConocoPhillips would sell its stake in the consortium, Kazakh Oil and Gas Minister Sauat Mynbayev told reporters: "They have informed that they have the intention of selling."

  • MOSCOW, Oct 2- Russia's second largest oil producer, LUKOIL, has signed an agreement with Ivory Coast to explore for oil off the West African country's shore, the company said on Tuesday. LUKOIL's production in Russia has been falling due to declining output at depleted oilfields in Western Siberia.

  • Eccentric billionaire likely to lead country Tuesday, 2 Oct 2012 | 10:13 AM ET

    Bidzina Ivanishvili, a onetime barefoot village boy turned eccentric billionaire philanthropist, is poised to become the new leader of Georgia, a strategic South Caucasus country that lives in the shadows of giant neighbor Russia.

  • Rosneft CEO to meet investors in London on Friday Tuesday, 2 Oct 2012 | 10:07 AM ET

    MOSCOW, Oct 2- Igor Sechin, chief executive of Rosneft, a contender to buy BP's stake in a Russian rival TNK-BP, will meet with minority shareholders in London on Friday, a Rosneft spokesman said. The CEO has said BP could use some proceeds from a planned sale of its stake in TNK-BP, its Russian joint venture, to buy a direct equity stake in Rosneft.

  • SOFIA, Oct 2- The International Monetary Fund praised Bulgaria's plans to keep its budget deficit at 1.3 percent of gross domestic product next year but urged the government to resist pressures to increase spending in an election year.

  • MOSCOW, Oct 2- Inter RAO Lietuva, a Baltic electricity trader 51 percent owned by Russia's Inter RAO, plans to hold an initial public offering in Warsaw at the end of 2012 or the beginning of 2013, an Inter RAO official said.

  • Poland sets final terms on EUR1.75bn July 2024 Tuesday, 2 Oct 2012 | 9:56 AM ET

    LONDON, Oct 2- The Republic of Poland has set final terms on its EUR1.75bn 12 year bond due July 9 2024 via Commerzbank, HSBC, ING and SG CIB. Order books for the A2/A-/A- rated deal closed at EUR3.5bn before reconciliation. The bonds will have a spread of 143 bp over mid-swaps once priced, which will occur shortly, a manager said.

  • PRAGUE, Oct 2- Czech and Slovak spot prices plunged on Tuesday ahead of a national holiday in Germany that sapped demand in the region while Hungary day ahead surged as the central European country remained short of supply, traders said.

  • TEXT-S&P summary: TENEX-Service Tuesday, 2 Oct 2012 | 9:19 AM ET

    Oct 02-=============================================================================== Summary analysis-- TENEX-Service--------------------------------- 02- Oct-2012=============================================================================== CREDIT RATING: BBB-/Stable/A-3 Country: Russia Primary SIC: Misc. business credit institutions=============================================================================== Credit Rating History: Local currency Foreign currency 20- Jan-2012 BBB-/A-3 BBB-/A-3 14- Jul-2011 BB+/ B BB+/ B=============================================================================== Rationale.

  • WARSAW, Oct 2- Environmental group ClientEarth, which has been opposing the construction of a 11.6 billion zloty coal-fired power plant by Polish utility PGE, may again move to block the project, a ClientEarth representative told Reuters.

  • At the same time, the agency has downgraded Denizbank's Long-term local currency IDR to' BBB-' from' BBB'. The rating actions follow the announcement on 28 September 2012 by Belgian-based bank Dexia that it has completed the sale of a 99.85% stake in Denizbank to Russia's Sberbank.

  • Mexicans puzzled by Azerbaijan leader monument Tuesday, 2 Oct 2012 | 8:19 AM ET

    MEXICO CITY-- The appearance of a life-size statue of Azerbaijan's "founder of the nation" on Mexico City's elegant Reforma Avenue, not far from Mahatma Gandhi, Abraham Lincoln and Mexico's national heroes, is raising eyebrows and protests.

  • SOFIA, Oct 2- The International Monetary Fund praised Bulgaria's plans to keep its budget deficit at 1.3 percent of gross domestic product next year and urged the government to resist spending pressure in an election year to protect fiscal stability.

  • MOSCOW, Oct 2- Russia's economy should sustain its current 4 percent growth rate over the next three years, President Vladimir Putin said on Tuesday, playing up its relatively strong performance as the global economy slows.

  • KIEV, Oct 2- Ukraine will buy two offshore platforms to boost domestic natural gas output, state oil and gas firm Naftogaz said on Tuesday, as the country seeks to ease its dependence on imports from Russia.

  • INTER RAO Lietuva plans Warsaw IPO - shareholder Tuesday, 2 Oct 2012 | 7:44 AM ET

    MOSCOW, Oct 2- INTER RAO Lietuva, a Baltic electricity trader 51 percent owned by Russia's InterRAO, plans to hold an initial public offering in Warsaw at the end of 2012 or the beginning of 2013, an InterRAO official said.

  • UPDATE 1-Strong BCP cash call keeps state away Tuesday, 2 Oct 2012 | 7:32 AM ET

    LISBON, Oct 2- A 500 million euros cash call by Portugal's Millennium BCP, was fully subscribed by private investors, meaning the state will not become a shareholder, the bank's chief executive said.

  • *Commission cannot force member states to apply recommendations. BRUSSELS, Oct 2- Europe's nuclear reactor fleet needs investment of 10 billion to 25 billion euros, a draft Commission report said, following a safety review designed to ensure there is never a repeat of the Fukushima nuclear disaster.

  • Imofinanz to invest 115 mln euros in Polish retail Tuesday, 2 Oct 2012 | 7:26 AM ET

    VIENNA, Oct 2- Austrian property group Immofinanz. Immofinanz said it planned to start construction this month with the opening scheduled for 2014. It said it was already in intensive negotiations with international and local retailers for occupancy of the centre's 150 retail units and food outlets.

  • Asia Naphtha/Gasoline-Naphtha margins snap gains Tuesday, 2 Oct 2012 | 7:15 AM ET

    SINGAPORE, Oct 2- The Asian naphtha price extended losses on Tuesday to reach a three-session low of $966 while margins snapped four sessions of gains and fell to $124.95 a tonne as squeezed petrochemical margins overshadowed the firm gasoline prices in the West.