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MOSCOW, September 10 (RIA Novosti) - Viktor...

MOSCOW, September 10 (RIA Novosti) - Viktor Vekselberg, one of the four major Russian shareholders in TNK-BP, said Wednesday that the Russian-British joint venture was worth at least $60 billion. "I have always said that the company would be worth $60 billion," he told reporters. According to RTS quotes, TNK-BP"s capitalization is now around $24 billion. However, some industry watchers say the company has been undervalued by 40-45%. TNK-BP posted a net profit of $4.7 billion in the first six months of 2008, a 128% increase on the same period last year. The British oil giant and the Alfa Access-Renova consortium of Russian billionaire shareholders signed last week a memorandum of understanding that should put an end to their protracted dispute over the joint oil venture"s management. It includes an option to sell up to 20% of a TNK-BP subsidiary through an IPO on international financial markets. The deal is a concession by BP to a number of its Russian partners" demands, including the removal of BP-appointed chief executive Robert Dudley, whom they accused of acting in only BP"s interests, and the appointment of three independent executives. The British oil major earlier accused the Russian shareholders of orchestrating a state harassment campaign against TNK-BP, Russia"s third largest producer, and seeking to seize control of the venture.


Nord Stream AG and two German environmental...

Nord Stream AG and two German environmental organizations have agreed on measures to protect the Baltic Sea, the gas pipeline operator said Friday.


Russia was defeated 2:1 in overtime and...

Russia was defeated 2:1 in overtime and penalty shots by Slovakia during the Olympic men"s hockey preliminary in Group B.

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The G20 is ready to send immediate aid to...

While there are as yet no firm figures on the death toll, the island nation"s Prime Minister Jean-Max Bellerive told CNN earlier on Thursday that he believed "well over 100,000" people died in Tuesday"s quake.

"We the G20 reaffirm our readiness and commitment to send immediate economic and in kind assistance to attend to the basic human needs of the Haitian population at this time of hardship," a statement said.

The quake, whose epicenter was located only 10 km from the capital of Port-au-Prince, also destroyed many buildings, including the UN headquarters and the presidential palace.

The Group of 20 leading economies is made up of Australia, Argentina, Brazil, Britain, Germany, India, Indonesia, Italy, Canada, China, Mexico, Russia, Saudi Arabia, the United States, Turkey, France, South Africa, South Korea, Japan and the European Union.

MOSCOW, January 14 (RIA Novosti)




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