Daily review

NOVATEK provided IAS report for 2009. 2009 IAS net profit of NOVATEK reduced by 11% versus 2008 and formed 820 mn USD, as follows from the report of the company (profit grew by 13.7% in ruble turns). Net profit of NOVATEK formed 318 mn USD in 4Q, which is 35.6% higher than the 3Q result and higher than we expected.

MOESK reported by RAS for 2009. Sales of MOESK grew by 35% by the results of 2009 and totaled 85.2 bn RUR, cost of the company grew by 23% and formed 69.4 bn RUR.

AvtoVAZ might conduct an additional emission for 320 mn euro. Shareholders of AvtoVAZ are discussing the additional emission of company’s shares for 320 mn euro in 2010 within the frames of restructuring.

Surgutneftegas built up the volume of its investment program in 2009 by 9.2%. Capital investments of Surgutneftegas in 2010 will form 118 bn RUR, imparted to the journalists CEO of the company Vladimir Bogdanov, announced Interfax. Growth versus 2009 investment program forms 9.2%.

Authorities negotiated features of long-term market of power. Profile authorities reached an agreement on the principal price features of the long-term market of power, announced several sources within the branch to Interfax. In particular, the price cap has been negotiated on the proposal of MEDT – on the first price zone (European part of RF and Urals) the price cap will form 110 thousand/MW per month, and on the second zone (Siberia) – 120 thousand/MW per month for all types of heat energy.

From April 1 export duties will add 6.1%. Export duty for the oil export from Russia from April 1 2010 might up by 6.1% versus March duty and might form 268-269 USD per ton, that follows from the calculations based on monitoring oil prices from February 15 to March 10 2010, provided by the ministry of finance of RF to Interfax. Note, from March 1 the oil export duty forms 253.6 USD per ton.

Financial results of Gazprom Neft for 2009 did not meet the expectations. Net profit of Gazprom Neft for 2009 reduced by 35.3% to the level of 3.01 bn USD, profit for 4Q 2009 slipped versus 3Q by 24.6% and formed 638 mn USD (corrected profit was at 3Q level), comes from the output US GAAP report of the company. Financial results on the net profit turned out to be lower than expected, we forecasted annual estimate in the amount of 1 bn USD.

Board of directors of AvtoVAZ adopted a program of development till 2020. Board of directors of AvtoVAZ, JSC approved at the Wednesday session the enterprise’s development program till 2020 in sum total volume of about 3 bn euro, announced one of the board members to Interfax.

KAMAZ plans to reach the pre-crisis volume of manufacturing by 2013. KAMAZ, JSC plans reaching the pre-crisis volume of manufacturing by 2013, announced the press-cutting service of the company referring to CEO of the JSC Sergey Kogogin.

Severstal closed 4Q 2009 with IAS net loss in the amount of 162 mn USD. Severstal closed 4Q 2009 with IAS net loss in the amount of 162 mn USD versus net profit of 71 mn USD a quarter before, imparts the report of the company. Net loss for the entire 2009 formed 1.037 bn USD.

Severstal completed 4Q 2009 with net loss by IAS in the amount of 162 mn USD. Severstal closed the 4Q 2009 with net loss by IAS in the amount 162 mn USD versus net profit 71 mn USD a quarter earlier, imparts the report of the company. Net loss within the entire 2009 formed 1.037 bn USD.

Transneft is working in advance on BTS-2. Transneft might complete the construction of the liner section of the BTS-2 oil pipeline till the end of 2010, imparts the message of the company, announced Interfax.

Strong results of WGC-6 by RAS by the results of 2009. Sales of WGC-6 in 2009 by RAS dropped versus 2008 by 1% and formed 41.9 bn RUR. Cost of WGC-6 dropped 10% and formed 34.6 bn RUR.