Archive for January 2012

Russian Crude Oil Forecast For 2012   Leave a comment

January 21, 2012: The Russian Energy Ministry expects crude oil production to edge up by 1 percent this year to a new record as a decline in output at traditional fields will be offset by a rise in new deposits, a deputy minister said today.

Last year, oil output in Russia, the world’s top crude producer, edged up 1.2 percent to reach a new post-Soviet high of 10.27 million barrels per day (bpd), or 511 million tonnes.

“Taking into consideration companies plans, this would be around 1 percent. We will add some 5 million tonnes,” said Sergey Kudryashov. The growth would slow further from 2.2 percent in 2010.

 

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RADA conducts due diligence and business intelligence investigations in Russia, Ukraine, Belarus, Poland, Romania, Moldova, Latvia, Lithuania, Estonia, Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan.

RADA: Russian Due Diligence Case Study (St. Petersburg Technology Company)   Leave a comment

RADA was approached to perform due diligence on a technology company based in Saint Petersburg, Russia.

A preliminary check of Russian corporate records showed that the company was, in fact, registered at the address given on their website.

A call to the phone number listed on the website, however, did not connect to the company in question, but rather to a credit company. The people at the credit company were very helpful, they advised that they had had the phone number for several years, and that they had never heard of the other company.

Various search engines showed that the number was, in fact, connected to the credit company; the only site with linking the number to the technology company was the technology company’s own site.

Several other companies seemed to be located at the address used by the technology company on their website. Several of them were contacted by telephone. None seemed to know about the technology company, and one provided contact information for the leasing agent. The leasing agent advised that they had been managing the property for several years, and that they had never heard of the technology company.

RADA’s client decided not to pursue business with the technology company, as it could not be located with any degree of reliability.

RADA conducts due diligence and business intelligence investigations in Russia, Ukraine, Belarus, Poland, Romania, Moldova, Latvia, Lithuania, Estonia, Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan.