Key Developments: ANK Bashneft' OAO (BANE.MM)

BANE.MM on Moscow Interbank Currency Exchange

1,777.00RUB
8:04am EST
Change (% chg)

руб27.00 (+1.54%)
Prev Close
руб1,750.00
Open
руб1,747.00
Day's High
руб1,778.00
Day's Low
руб1,717.00
Volume
48,783
Avg. Vol
--
52-wk High
--
52-wk Low
--

Search Stocks

Latest Key Developments (Source: Significant Developments)

Moody’s confirms ANK Bashneft’s CFR at Ba2, positive outlook
Wednesday, 19 Nov 2014 07:00pm EST 

ANK Bashneft' OAO:Moody’s Investors Service has confirmed Bashneft’s corporate family rating (CFR) and probability of default rating (PDR) at Ba2.The positive outlook is due to credit metrics and the approximate 10 pct year-on-year growth in production in the first nine months of 2014.Prior to the start of the legal proceedings with regard to Bashneft’s owner Sistema, the outlook on the company’s ratings was positive.  Full Article

FAS brings action against ANK Bashneft' OAO, NK Rosneft' OAO, NK Lukoil OAO for manipulation on oil exchange-Interfax
Wednesday, 5 Nov 2014 08:19am EST 

ANK Bashneft' OAO:Russia's Federal Anti-Monopoly Service (FAS) has brought action against Bashneft, Rosneft, Lukoil and LLC Lukoil-Rezervnefteprodukt on grounds of manipulation on the oil product exchange, FAS said in a statement on its website-Interfax.More specifically, this concerns part 4 of article 11 on protecting competition, the FAS said.The FAS established during analysis of oil product market monitoring that in the Jan.-Sept. period in wholesale trading off the exchange, prices for Ai-92 and Ai-95 gasoline rose about 20 pct.The price increase in the same segment on the exchange over the same period was an increase of 34 pct for Ai-92 and 35 pct for Ai-95.  Full Article

ANK Bashneft' OAO could boost oil production to 19 million tonnes in 2015-Interfax
Thursday, 30 Oct 2014 11:13pm EDT 

ANK Bashneft' OAO:Bashneft could increase oil production to about 19 million tonnes in 2015, according to preliminary data, the Russian oil company's president, Alexander Korsik told reporters-Interfax."According to preliminary data, if everything works out for this company, on the horizon of 2015 production could reach 19 million tonnes," Korsik said.Korsik said earlier that Bashneft might produce 17.8 million tonnes of oil in 2014.The company produced 16.1 million tonnes of crude in 2013.  Full Article

Aktsionernaya Finansovaya Korporatsiya Sistema OAO announces statement regarding ANK Bashneft' OAO proceedings
Thursday, 30 Oct 2014 08:30am EDT 

Aktsionernaya Finansovaya Korporatsiya Sistema OAO:Announces that the Arbitrazh (Commercial) Court of the City of Moscow ruled in favour of the civil claim seeking to return the shares of ANK Bashneft' OAO owned by Sistema and its subsidiary Sistema-Invest to the Russian Federation.Under Russian law, Sistema has a period of one month from the date of issue of the written decision to appeal.Sistema disagrees with the decision and is considering an appeal.If Sistema does appeal, the decision will not come into effect until such time as the appeal is determined.Sistema emphasizes that its investments continue to operate as normal, and the majority are profitable and require no funding from Sistema.Their activities are unaffected by the court's decision.However, the ongoing litigation could have a negative impact on the investment strategy, financial condition and financial obligations of Sistema itself, particularly if the decision to return the Bashneft shares, owned by Sistema and Sistema-Invest, comes into force.Sistema is in discussions with relevant stakeholders to determine the potential impact of the litigation and potential outcomes.  Full Article

Moscow court rules in favor of returning Aktsionernaya Finansovaya Korporatsiya Sistema OAO shares in ANK Bashneft' OAO to state-Reuters
Thursday, 30 Oct 2014 04:27am EDT 

Aktsionernaya Finansovaya Korporatsiya Sistema OAO:The Moscow Arbitration court ruled that shares in ANK Bashneft' OAO owned by Russian conglomerate Sistema should be returned to the state after an "improper privatisation"-Reuters.A Reuters correspondent at the court said the judge had ruled in favor of the General Prosecutor's office, which argued that oil producer Bashneft was unlawfully privatized in the early 2000s and subsequently sold to Sistema in 2009.Sistema's main owner and chairman Vladimir Yevtushenkov was placed under house arrest in Sep. for alleged involvement in money laundering related to the Bashneft sale.  Full Article

ANK Bashneft' OAO divests its stake in Mobel-neft' OOO
Thursday, 30 Oct 2014 12:56am EDT 

ANK Bashneft' OAO:Decides to divest its stake in Mobel-neft' OOO, because of its liquidation.Date of the Board of Directors meeting at which the relevant decision was taken Oct. 29.  Full Article

FAS allows ANK Bashneft' OAO to acquire Bashkir and Samara filling stations-Interfax
Wednesday, 22 Oct 2014 06:33am EDT 

ANK Bashneft' OAO:Russia's Federal Anti-Monopoly Service (FAS) has approved a request of ANK Bashneft' OAO to acquire 100 percent of AZS Aktan OOO, FAS said-Interfax.According to FAS materials, AZS Aktan is registered in Samara and its main activities are lease of its own property and retail trade of fuel.According to SPARK-Interfax database, over 80 percent in AZS Aktan is owned by Aktan OOO, which is controlled by three private investors.Also, FAS has approved a request of Bashneft'-Roznitsa OOO to acquire main manufacturing assets of AZS-Aktiv ZAO.According to FAS materials, AZS-Aktiv is registered in Ufa, and is engaged in the lease of its own property and retail trade of fuel.According to SPARK-Interfax database, AZS-Aktiv is privately owned.  Full Article

ANK Bashneft' OAO to raise oil production 10.5pct to 17.8 million tons in 2014-Interfax
Tuesday, 7 Oct 2014 11:21pm EDT 

ANK Bashneft' OAO:Plans to produce 17.8 million tons of oil in 2014, the oil company's President, Aleksandr Korsik said in an interview with TV channel Rossiya 24-Interfax.The company produced 16.1 million tons of oil in 2013, so it could increase production by 10.5pct in 2014.  Full Article

Aktsionernaya Finansovaya Korporatsiya Sistema OAO announces statement regarding its stake in ANK Bashneft' OAO
Monday, 29 Sep 2014 03:38am EDT 

Aktsionernaya Finansovaya Korporatsiya Sistema OAO:Says that it has received a notice from OJSC REESTR relating to the shares of ANK Bashneft' OAO owned by Sistema and CJSC Sistema-Invest (the Bashneft Shares).According to the notice, the Moscow Court of Arbitration has imposed a restriction on transactions relating to the Bashneft shares.The restriction is in connection with a civil claim against Sistema and Sistema Invest resulting from an investigation reportedly related to the privatisation of BashTEK Group.The restriction does not affect Sistema's and Sistema-Invest`s voting rights, but prevents transactions in Bashneft shares and the receipt of dividends, which will be paid into an escrow account pending resolution of the investigation.The restriction is effective from Sep. 25 and is independent to the one announced on July 15 in connection with a separate criminal investigation.Says Sistema was not party to the privatisation of BashTEK Group and will use all available legal means to defend its rights.Says Sistema is continuing to cooperate fully with the investigations and will update the market as appropriate.  Full Article

ANK Bashneft' OAO approves acquisition of AZS AKTAN ZAO
Wednesday, 24 Sep 2014 01:19am EDT 

ANK Bashneft' OAO:Says that its Board of Directors has approved acquisition of 100 percent stake in AZS AKTAN ZAO.  Full Article

UPDATE 1-Moscow court awards Sistema $1.1 bln for Bashneft losses - RIA

MOSCOW, Feb 16 - A court has awarded Russia's Sistema industrial conglomerate damages of 70.7 billion roubles ($1.1 billion) for losses related to the seizure of the Bashneft oil company, RIA news agency reported on Monday.

Search Stocks