OREANDA-NEWS. June 18, 2010. Veles Capital released daily market review:

Positive news on the agreement with Chevron is overlapped by risks of possible selling of the portfolio of Rosneft belonging to BP. Rosneft and the U.S. second largest oil-and-gas company Chevron signed agreements on the development of West-Black Sea license area (Val Shatskiy), located at the shelf of the Black Sea, imparts the message of the oil company.

In 2009 AvtoVAZ doubled the IAS loss. AvtoVAZ group by the results of 2009 gained IAS net loss in the amount of 49.2 bn RUR, which is higher the similar estimate of 2008 by 2 times due to significant reduction of demand for products.

Financial results of Akron and Dorogobuzh by IAS for 1Q 2010. Within the reported period Akron gained profit in the amount of 53 mn USD, Dorogobuzh – 23 mn USD, which matches growth of the given estimate versus the similar period of the previous year by 90%. All the financial results exceeded the market expectations and our forecasts by 10-16%. Sales of the company grew within a year by 39.6% and 46.8% respectively for Akron and Dorogobuzh and formed 383 mn USD and 110 mn USD.

Gazprom Neft plans accelerating extraction on behalf of gas deposits.