Word: lukoil
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Dates: during 2000-2009
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...hardware - to cut a series of clever deals. In 2006, for example, then President Vladimir Putin flew a delegation of oil, gas and defense executives to Algeria. Putin negotiated to sell $7.5 billion worth of combat jets, missiles and tanks to the government, while Russian energy giants Gazprom and Lukoil secured key oil and gas concessions in the North African nation. And Putin offered an extra sweetener: he wrote off Algeria's near $5 billion Soviet-era debt. Then there was the deal Putin cut with Libya just before he stepped down from the presidency to become Prime Minister: that...
...even wants the government to reduce the required two months' severance pay for laid-off workers to a single month. Meanwhile, in the past two months, Russia's hard currency reserves have plummeted $51 billion down to $546 billion. Putin has just given another $50 billion to Gazprom, Rosneft, Lukoil and other energy conglomerates to pay their accrued foreign debts by the end of this year. Russian companies and banks are to pay yet another $115.7 billion by the end of 2009. Furthermore, Moscow will have to pick up the tab for debts accrued by regional governments...
...like an enormous amount of money, but some of the major individual players in oil are bigger than the market itself: Sultan Hassanal Bolkiah Muizzaddin, of Brunei Shell Petroleum, is worth about $23 billion; Saudi Prince Alwaleed Bin Talal Alsaud is worth about $21 billion; Russian Vagit Alekperov of LUKoil is worth about $13 billion. No, we're not implicating any of these guys in market rigging; in fact the list of billionaires with that kind of swag is long. The point is that anyone in that category could clearly handle the risks of the oil futures market, and they...
...highest ranks. Zenit boasts a side of national stars, including Andrei Arshavin and Pavel Pogrebnyak, whose dizzying salaries are financed by energy giant Gazprom, the team's owner. Moscow clubs Spartak and Dynamo are sponsored by their corporate patrons - also from the oil and gas sector - Yukos and Lukoil, respectively. The war chests that such firms bring to the game have led to galloping salary inflation, says midfielder Alexei Smertin - who is leaving London's Fulham for a fatter contract with Lokomotiv in Moscow. Enormous sums are also being spent to build or renovate stadiums and training centers - cheered...
Companies in Europe, in Asia and elsewhere face no such restrictions. Many, like France's energy behemoth Total or Russia's Lukoil, are only too happy to sidestep American competitors as they pursue business in nations like Iran, which badly needs outside help for its oil industry. If the terror-free trend should spread, those companies could face significant divestment by U.S. shareholders. Other big-name international companies that have done business with outlaw states include Siemens, Hyundai, Alcatel, BNP Paribas and Statoil. The roster of some 400 global companies excluded by the FTSE/CSAG index includes many that trade...