- Gazprom (OGZPY.PK, OGZRY.OB) reportedly is increasing its capex program by 46% to $32B for the current year, heightening concerns about its ability to rein in rising costs.
- Interfax news agency reports the Russian state-run company has increased its planned investments to 1.03T rubles ($32B) from a previous 705B rubles, mainly due to growing long-term financial costs.
- It's not clear where the rise in investments comes from, but earlier this year Gazprom acquired 90% of Moscow power generation company MOEK, with a bid of ~$3B.
From other sites
Video at CNBC.com (Mar 2, 2015)
at CNBC.com (Feb 13, 2015)
at CNBC.com (Dec 31, 2014)
at CNBC.com (Dec 17, 2014)
at CNBC.com (Dec 16, 2014)
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