eik's stock talk

[eik]

August 22, 2007 15:15 No new free newspaper ads in the market
(Google translation)
Failures ended project for the Moscow market for the Russian version of a free weekly newspaper ads "Waseet", which is supposed to be "issue, the company for press and advertising" (UCPAD), created ZAO North-West Oil Group "with the founder of - Kuwaiti company Al Waseet International. "
According to the president of ZAO North-West Oil Group "Ernest Malyshev, at the eve of the general meeting of shareholders Kuwaiti partners were not willing to listen to proposals of Russian colleagues and expressed a desire to act on its pattern, which is that once the budget and the allocation of money project management has full control of all business processes, which caused disagreement Russian side.
"We for our part by allocating $ 3 million for the first year of operation of the project, would like to know what is happening in the company. But yesterday, we actually offered to withdraw from the project. We have even offered to buy it is if the Kuwaiti unleash his colleagues, but their perseverance has made this impossible, "said E. Malyshev.
The representatives of ZAO North-West Oil Group "under the impression that Kuwaiti partners wanted to use it as a company with an established reputation in Russia. ZAO North-West Oil Group, "said E. Malysheva, spent six months on marketing and cc scrap market used to move newspapers every respect, a presentation booklets and packets of documents, and therefore intends to apply for the costs of arbitration the court, if such precedents in the Russian market has already occurred.
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"This is a lesson for all companies wishing to do business with foreign companies, especially from local monopolists. We categorically reject this approach to the business. We believe that entering the market of a country should take into account the principles of business, which in this country taken, "he E. Malyshev. He decided to suspend the project and did not have any desire to have him continue. He believes that the Kuwaiti partners failed in their ambitions and, in some emotional state is not able to negotiate at the appropriate level.
"Our mentality is not in line with the mentality of people from the Middle East," observed E. Malyshev.
For its part ZAO North-West Oil Group "ready to continue with the project company, which it will be interesting.
In a newspaper ZAO North-West Oil Group "had in mind some political goals : a future of the Middle East contracts (such as the construction of refineries in the Syrian capital of Damascus), Russian businessmen felt that the newspaper will strengthen links Russia and the Middle East. Construction refinery in Syria implies investing $ 850 million buyout of the business and the government of Syria for 15 years. The plant will process 1.5 million tons of oil per year, with an emphasis on diesel oil and petrol. The project has the support of the government of Russia.
As E. Malyshev, the state recently insinuated that wants to control the oil market, and therefore ZAO North-West Oil Group "are already looking for ways to diversify its production-free investments in future projects not directly related to the oil and gas industry although oil reserves to last for another 25 years. Business ZAO North-West Oil Group is "highly quoted on the stock exchange subsidiary in the United States, is preparing to drill two new wells in the Saratov region with potential reserves of 1.5 million tons. As E. Malyshev, in the short-term plans the company has upgraded the outdated refinery in Jordan productivity 500,000 tons annually, which would cost $ 450 million, or construction of a new refinery.
In addition, the cost of ZAO North-West Oil Group was estimated in a range of $ 200 to $ 250 million, but negotiations with Western banks, foundations and affiliated companies has enabled it to attract significant funds for the intended project, said E. Malyshev.
Asked IA Alliance Media "is not whether it is easier to implement an international project through the Russian Chamber of Commerce and Industry, has stavivshey on deepening cooperation with the countries of Asia, Africa and the Middle East, E. Malyshev said that this turn of events seems to be very outlook : recently became an associate member of the Chamber of the Russian Federation, ZAO North-West Oil Group "managed to get many invitations to the press conference and continue to actively participate in the Chamber of the Russian Federation, including on the project.

IA Alliance Media "
http://www.mbm.ru/newsitem.asp?id=56588