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The Moscow Times Moscow Guide – Winter 2008

Since the middle of autumn one of the most important topics of discussion, could only be … no, not the financial crisis… New Year! The winter issue of The Moscow Times Moscow Guide is entirely devoted to New Years celebrations. Seven great ideas for celebrating the “Night of Nights” will help readers finalise their plans and choose how and where to party, give fresh ideas and lots of practical advice.

And don’t forget – problems will come by themselves, but happiness and luck need an invitation. That why the more cheerful and light-hearted your celebration of the coming holiday is, the happier and more successful 2009 will be for you.

The Crisis: Signs of a Kremlin Fearful Of Unrest
Sociologist Yevgeny Gontmakher has painted a disturbing picture of what might emerge from the financial crisis, forecasting continued unemployment, huge protests and spreading violence.

Market Matters: Huge Grain Harvest No Boon for Farmers
This year Russia is enjoying the biggest grain harvest it has ever seen -- and farmers couldn't be more worried.



Tuesday, January 06, 2009 Updated at 31 December 2008 22:36 Moscow Time.

The Moscow Times » Issue 4002 » Business

Urals Energy Shares Fall on Venture Talk

03 October 2008LONDON -- Urals Energy fell the most since listing in 2005 after the oil explorer said it was considering "different options" for the Taas-Yuriakh asset in Siberia.

The company fell 8.5 pence, or 23 percent, to 28.5 pence in London on Thursday afternoon, the biggest decline since listing its shares in August 2005. "No agreement has been reached with any company, and there can be no assurance that any such agreement will be reached," Urals said in a statement.

Kommersant reported that Royal Dutch Shell was in talks to form a joint venture with Urals Energy and buy half of the Taas-Yuriakh oil production company, which develops the Sredne-Botuobinskoye field in eastern Siberia. Spokespeople at Shell and Urals declined to comment.

"Despite the potential positive development, we continue to be cautious on Urals Energy because of its short-term debt of $624 million, which the company has to refinance," Artyom Konchin and Ilya Balabanovsky, analysts at UniCredit, wrote in a report. It is a "challenging task given the current loan market conditions."

Urals' debt as of Sept. 30 comprised two loans from Sberbank. The largest is a one-year, $500 million loan with a 14 percent interest rate, which expires in November, Urals said.

Taas-Yuriakh's main asset is the license to develop the Sredne-Botuobinskoye field, which may hold more than 100 million tons of oil, the company's web site says.