April 2020 | ISSUE No. 268| USRCC Business Newsletter

The U.S.-Russia Chamber of Commerce  Invites You to Attend

The 10th Annual Welcome Reception Honoring Russian and CIS Delegations  to the Breakbulk Americas 2020 Breakbulk Americas has been the established hub for the project cargo and breakbulk industry for more than 30 years. Based in Houston, it hosts more than 5,000 professionals from across the industrial supply chain based primarily in Canada, U.S. and Latin America, including the America’s largest EPCs and oil & gas companies. The conference provides shippers with the opportunity to meet and develop relationships with the leading specialized carriers, forwarders, ports, terminals and packers who have the expertise and resources to handle oversized cargoes with unique handling requirements. U.S.-Russia Chamber of Commerce invites you to join the welcoming Russian and CIS delegations to the  10th Annual Breakbulk Americas Reception . This annual event draws decision makers in U.S.- Russia trade and investment, including senior representatives from major shipping and logistics companies, leaders in the oil and gas industry, government officials, elected officials and more.

Wednesday, November 4, 2020  6:00 PM - 8:00 PM  Four Seasons Hotel, Whitney Room  1300 Lamar Street, Houston, TX 77010 USRCC Members - $30/Non-Members - $60

CLICK HERE TO REGISTER

Please note: Refunds will not be issued after November the 2nd, 2020

For sponsorship opportunities please contact:  The U.S.-Russia Chamber of Commerce 2900 Wilcrest Drive, Suite 133, Houston, TX 77042  Phone:  713.429.4680  Email: info@usrussiacc.org

USRCC Business Survey Amid the uncertainty of the COVID-19 pandemic, the USRCC is launching the  Business Survey.  We want to hear how your company is doing during this ever-changing time. Your responses will not only help us keep a pulse on the current situation but will also advance our understanding of the issues your businesses are facing.   The survey should take no more than 3-5 minutes to complete. We want to assure you that your responses to our survey are completely confidential. Thank you in advance for your participation! Please click below to begin.

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◾ USRCC Membership

Are you taking advantage of your USRCC Member Benefits? The U.S.-Russia Chamber of Commerce provides a variety of Membership options to fit your business needs and goals. Renew your membership or join for the first time today! For more information   click here

◾ Member's News

Shell Invests in Arrow Energy’s Surat Gas Project Shell.com, April 17, 2020:  Shell Australia (Shell) has taken a final investment decision to develop the first phase of Arrow Energy’s Surat Gas Project in Queensland, Australia. This decision will bring up to 90 billion cubic feet per year of new gas to market at peak production, which will flow to Shell-operated QGC to be sold locally and exported through its plant on Curtis Island. Read more...

Weatherford VERO™ Automated Connection Integrity Successfully Completes 100 Runs and 33,000 Tubular Connections Weatherford.com, April 21, 2020:  Weatherford International plc (OTC Pink: WFTLF) today announced its Vero™ automated connection integrity has successfully completed 100 runs and 33,000 tubular connections in operations worldwide since its market debut. Vero applies artificial intelligence to minimize safety risks and validate well integrity from the wellhead to total depth. Read more...

Emerson Reports Second Quarter 2020 Results and Updates Full Year 2020 Guidance Emerson.com, April 21, 2020: Emerson today reported results for the second fiscal quarter ended March 31, 2020 and announced updated guidance for the fiscal year. Second quarter net sales were down 9 percent and underlying sales were down 7 percent excluding unfavorable currency of 2 percent and no impact from acquisitions or divestitures. Growth was below management expectations in both business segments due to the unforeseen and rapid deterioration of demand in March. Read more...

Rosneft Board of Directors Recommended Payout of Record Dividends for 2019 Amounting to 354.1 Bln Rubles. Rosneft.com, April 23, 2020:  On April 21, 2020 a regular meeting of Rosneft Board of Directors was held in Moscow to discuss items related to the Annual General Shareholders Meeting of the Company on 2019 results. The Board of Directors resolved to call Rosneft Annual General Shareholders Meeting and vote in absentia on June 2, 2020. The record date for the list of eligible participants of the Annual General Shareholders Meeting of Rosneft is May 8, 2020 (COB). Read more...

◾ This Week in Review Russia Takes 6th Place in Billionaire Growth in 10 Years — Forbes Tass.com, April 23, 2020:  Russia ranks 6th in the list of countries in which grew most billionaires in the past decade, according to the information  published  by the Forbes magazine on Thursday. Russia has 38 more people whose fortune is estimated at $ 1 billion or more: in 2010 there were 61, now, according to the magazine there are 99.   Read more...

Russian Businesses Ask for Environmental Regulation Reprieve Amid Pandemic – Kommersant Themoscowtimes.com, April 21, 2020:  Russian businesses have asked the government to suspend its enforcement of environmental regulations during the coronavirus pandemic, the Kommersant business daily reported Tuesday. The Russian Union of Industrialists and Entrepreneurs (RSPP) warned that existing regulations would lead to an “uncontrolled spread of the disease,” according to RSPP chief Alexander Shokhin’s April 15 letter to Prime Minister Mikhail Mishustin cited by Kommersant. Its 73-point list reportedly includes requests to halt environmental supervision, to eliminate industrial pollution fines and to push back new permits and payments until next year. Read more...

Russia Cuts Key Interest Rate amid Coronavirus Lockdown & Plunging Oil Prices Rt.com, April 24, 2020:   The Bank of Russia slashed its interest rate by 50 basis points on Friday, for the first time since October 2019, to 5.5 percent. The regulator said that further reductions may follow soon. The Bank of Russia added that it has reviewed the baseline forecast scenario and is shifting to an accommodative monetary policy. According to the bank forecast, given the monetary policy stance, annual inflation will reach 3.8-4.8 percent in 2020 and will stabilize around four percent later on. Read more...

Russia’s National Welfare Fund to Drop to 7 Trillion Rubles by Year-End Russiabusinesstoday.com, April 20, 2020:  By the end of 2020, about 7 trillion rubles will remain in the National Welfare Fund (NWF), said Finance Minister Anton Siluanov. As of April 1, the volume of the NWF was 12 trillion 855 billion, Kommersant reported. “Taking into account all the expenses of the current year, at the end of the year we expect about 7 trillion rubles. in the National Welfare Fund,” Siluanov said. Read more...

Russian Energy Ministry Negotiated Quotas With Oil Producers, Sources Say Tass.com, April 20, 2020:   The Russian Energy Ministry negotiated the distribution of oil production reduction quotas within the framework of the OPEC+ deal with national oil companies, two sources in the industry told TASS on Monday. "All the levels were brought subject to arrangements within the OPEC+ framework. The Ministry of Energy has communicated information on cuts in full compliance with conditions," one of the source said, without detailing terms. Read more...

Repair, Abandon, Burn: Russia Explores Options for Historic Oil Cut Reuters.com, April 23, 2020:   In just a week, Russia has to find ways to cut a fifth of its oil output under a deal to tackle the market glut and is looking at all options, including putting wells on repair and maintenance to abandoning them entirely and even burning oil, four oil industry sources said. Read more...

◾ Houston-Tyumen Sister Cities

Tyumen Deputy Governor Announces New Help for Entrepreneurs and Accuses Banks of Inaction Newdaysnews.ru, April 23, 2020:   The government of the Tyumen region is developing a second package of financial assistance for entrepreneurs. This was during an online conference with representatives of the banking sector and entrepreneurs, said Deputy Governor Andrei Panteleev. Read more...

◾ CIS Business News

President Nixes Helicopter Money Idea, Appeals to Business Community Eurasianet.org, April 22, 2020:  The president of Uzbekistan has abandoned the idea of the government pumping money directly into the economy to help the country out of the current coronavirus-induced crisis and has turned instead to the business community to support the needy and unemployed. Read more...

Mozyr Oil Refinery Getting Ready to Commission Hydrocracking Plant Eng.belta.by, April 20, 2020:  Mozyr Oil Refinery is getting ready to commission its hydrocracking plant, the company's representatives told BelTA. The installation of fresh-feed pumps of the hydrocracking plant has been finished. The pumps represent a critical link in the hydrocracking technology process. The fresh-feed pumps are some of the unique pieces of equipment at the hydrocracking plant. Read more...

Azercosmos Increases Revenues by Third in Q1 2020 Azernews.az, April 21, 2020:   In January-March 2020, the revenues of Azerbaijan’s state-owned satellite operator Azercosmos generated $11.7 million from the provision of telecommunication and Earth Observation services, which is 33 percent higher compared to the same period of 2019, the official website of the operator reported on April 20. Read more...

◾ US-Russia Related News in Russia ◾ Новости недели Сколько Кислорода Добавлено в Экономику Kommersant.ru, April 21, 2020:   Правительство систематизировало меры первого и  второго  пакетов поддержки экономики в связи с антиэпидемическими ограничениями экономической активности — опубликован краткий отчет Белого дома, подготовленный по данным Минэкономики, в котором впервые раскрыты данные о уже реализованных объемах поддержки с 17 марта (дата подписания первых документов по первому пакету) по 18 апреля. Читать далее...

Цены на Brent и Urals Обрушились Вслед за Ставшей Отрицательной WTI  Rbc.ru, April 21, 2020:   Фьючерсы на нефть Brent подешевели на 25%, а цены на российскую нефть Urals обновили двадцатилетний минимум. Нефть, скорее всего, продолжит падение: спрос на фоне пандемии упал на треть, и уже в мае хранить сырье будет негде. Читать далее...

Новак Рассказал о Механизме, Который Пополнит Бюджет РФ на 1 Трлн Рублей Radiosputnik.ria.ru, Апрель 22, 2020:   Российский бюджет при цене на нефть в 20 долларов за баррель пополнится на 1 триллион рублей благодаря действию демпфирующего механизма на топливном рынке, заявил министр энергетики Александр Новак, передает РИА Новости. Министр отметил, что в 2018 году возглавляемое им ведомство выбрало механизм демпфера, который заключается в обеспечении стабильных цен на АЗС независимо от цен на мировых нефтяных рынках. Читать далее...

Bloomberg: Власти США Пока не Могут Снять Санкции с "дочки" "Роснефти" Tass.ru, Апрель 22, 2020:   Власти Соединенных Штатов пока не могут снять санкции с дочерней компании "Роснефти" Rosneft Trading, поскольку не обладают достаточными свидетельствами того, что та прекратила свою деятельность в Венесуэле после продажи активов. Об этом сообщило в среду агентство  Bloomberg  со ссылкой на представителя американской администрации высокого ранга. Читать далее...

Bloomberg и Reuters Узнали Условия Сокращения Добычи Нефти в России Forbes.ru, Апрель 21, 2020:   Минэнерго поручило российским нефтедобывающим компаниям с 1 мая сократить добычу примерно на пятую часть. Об этом сообщили источники Bloomberg и Reuters. Речь идет о сокращении на 20% от уровня февраля этого года, когда Россия добывала 11,29 млн баррелей нефти и газового конденсата, уточняет Reuters. По данным Bloomberg, после нескольких дней консультаций российским компаниям поручили пропорционально сократить добычу на 2,5 млн баррелей в сутки. Читать далее...

GET INVOLVED The USRCC is looking for new team members! Volunteers play a key role and the contributions they make impact the day-to-day functions of the chamber and shape the future of the relationship between Russia and the U.S. There are many ways you can get involved with the USRCC. Whether you are an experienced leader or a student, there is a place for you. By volunteering you can be at the very center of our high-profile events held in Houston, Chicago and New York City and interact with influential leaders in the U.S.-Russia trade and investment. To learn more about the position  click here or contact us directly at info@usrussiacc.org    call 713.429.4680

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U.S.-Russia Chamber of Commerce 2900 Wilcrest Drive Suite 133 Houston, TX 77042 713-429-4680 info@usrussiacc.org http://www.usrussiacc.org

The U.S.-Russia Chamber of Commerce (USRCC) is a 501(c)(6) not for profit corporation with its headquarters in Houston, Texas, and offices in the Midwest and the Northeast. The USRCC was established in 2009 to promote trade and investment between the Russia n Federation and the U.S.A.   The information contained in this newsletter is provided for general information purposes only and does not constitute legal or other professional advice on any subject matter. USRCC does not accept any responsibility for any loss that may arise from reliance on information contained in this newsletter. The views and opinions expressed in this publication are those of the authors. They do not reflect the opinions or views of the USRCC or its members. Links within this newsletter lead to other websites, including those operated and maintained by third parties. The linked sites are not part of the USRCC newsletter. USRCC includes these links solely as a convenience to the newsletter subscribers, and the presence of such links does not imply a responsibility for the linked site and its operator. USRCC cannot certify the accuracy of the material provided by the original source . Copyright 2017. All Rights Reserved.