BP’S Russian joint venture, TNK-BP, plans a surprise bid for a stake of almost 10 per cent in Russia’s second biggest oil major, state-controlled Rosneft.
The 9.44 per cent Rosneft stake formerly belonged to Yukos, a comp
any owned by Mikhail Khodorkovsky, the jailed oligarch and opponent of Russian President Vladimir Putin.
Yukos was forced into bankruptcy by […]

Russian state-controlled oil firm Rosneft may put shares back on the market to increase its free float if it wins an auction for a block of its equity next week, a company official said.
The 9.44 percent stake in Rosneft is held by bankrupt oil firm YUKOS and is going under the hammer to pay off […]

RBI today conducted an auction to sell 91-dayT-bills. At a multiple price-based auction, RBI received 118 bids worth Rs 50.35 billion for the papers. Out of them, only 18 competitive bids were accepted worth Rs 8.21 billion. However, the notified amount for the auction was Rs 20 billion, out of which Rs 15 billion were […]

eBay online payment system, PayPal, now has nearly 35 million accounts in Europe, about a quarter of the service’s worldwide total. Forrester Research also says that 23% of Europeans prefer PayPal to credit cards or alternate ways of making payments online.
PayPal is looking more and more like the future driver of the company’s earnings. eBay’s […]

The Russian Federal Property Fund has not yet received one application to take part in auctions for Yukos assets, Fund Chairman Yury Petrov told journalists.
“There is not yet one application either for the first lot or for subsequent lots,” he said.
He said that the deadline for applying for the first auction - for 9.44% of […]

Energy Minister, Edmund Daukoru says Nigeria will announce a new round of exploration licenses for around 30 oil and gas blocs over the next two weeks.
Edmund Daukoru, speaking in Vienna ahead of an Organization of Petroleum Exporting Countries meeting Thursday, told disclosed that the licenses will include both offshore and onshore blocks, including some in […]

Celanese Corporation (NYSE: CE), a global hybrid chemical company, today announced a comprehensive plan to refinance its existing senior credit facilities, senior subordinated notes and senior discount notes and to repurchase approximately $400 million of its common stock.
Upon completion, the proposed refinancing plan will reduce the Company’s debt by over $200 million, lower net interest […]

The average weighted price for Bank of Russia Bond (OBR) series 04001-7 (maturing on October 18, 2007 and with a built-in put option) offered at auction Thursday was 97.3403% of face value, which corresponds to yield of a annual 5.36%.
The Central Bank reported that 76.169 billion rubles (face value) worth of the bonds were sold […]

Colombia’s borrowing costs increased in a local fixed-rate debt auction as concern defaults among U.S. home lenders will curb growth in the world’s biggest economy, limiting appetite for riskier emerging-market assets.
The yield on the benchmark fixed-rate bond due July 2020 rose to 9.8 percent from 9.64 percent at the last auction on Feb. 28. […]

Brazil’s federal government has delayed to June from May the country’s two main power auctions and will try to auction licenses for the 6,445MW Madeira complex in July, a mines and energy ministry spokesperson told BNamericas.
The government wants to give project developers more to time prepare documentation for the auctions, the spokesperson said.
The government had […]