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Topic: Surgut

	Downtown Surgut Hotel
		Medvezhiy Ugol Hotel Surgut is a beautiful 5-floor building, located 4 km from the city centre and just a kilometre from the railway station.
		Surgut is a nice place to visit - take time to discover it and book your hotel in the city center...
		Our goal is to offer the widest choice with the best Surgut city centre hotel and the best Surgut discount hotel room rates.
	www.hotel-downtown.com /downtown_surgut_hotel.htm (233 words)

	Town of Surgut
		Surgut has gotten a new birth after the opening of large oil in the Srednee Priobje at the beginning of 60th.
		Surgut is a large transport unit which the main pipeline, railway, automobile, air and water highways cross.
		Surgut is a unique alive body with its face and the internal laws, determining its general condition and emotional health.
	www.hmao.wsnet.ru /english/powerE/common/csurgut (600 words)

	Encyclopedia: Surgut (Site not responding. Last check: 2007-10-30)
		Surgut (Ð¡ÑÑÐ³ÑÌÑ) is a city in Russia, the largest city in the autonomous district of Khantia-Mansia.
		Surgut is one of the oldest Siberian cities.
		Surgut's economy is tied to oil production and the processing of natural gas.
	www.nationmaster.com /encyclopedia/Surgut (517 words)

	Welcome to AdoptionPros (Site not responding. Last check: 2007-10-30)
		Surgut was founded in the 16th century as an outpost in the Russian advance north and eastward.
		Surgut is a vital transport junction, with a major river port, West Siberia’s largest railway terminal, and an up-to-date airport.
		Surgut is notable for its broad, straight streets lined by highrises of top quality, easily withstanding local frost and wind.
	www.adoptionpros.com /surgut.htm (584 words)

	Minority Shareholders Renew Surgut Assault
		The investors say shares held by Surgut subsidiaries are effectively considered treasury stock and should be canceled because they have been held for more than a year.
		Harvard, which bought Surgut shares between 2002 and 2004, said then it would seek to recover "millions of dollars" in dividends it did not receive.
		Surgut has filed a motion in New York Federal Court asking the judge to block the arbitration, Skinner said.
	www.themoscowtimes.com /stories/2005/01/17/049.html (421 words)

	destination guide - Surgut - Russia (Site not responding. Last check: 2007-10-30)
		Surgut with the population of 260 thousand is located on the right bank of the Ob river.
		Surgut is one of the first Russian cities in Siberia.
		Surgut was raised into the status of the city in 1782.
	www.cityguides-worldwide.com /Russia/2084.htm (104 words)

	GN Online: Surgut posts 9pc fall in 2002 profit (Site not responding. Last check: 2007-10-30)
		Surgut, which produces around a million barrels a day of oil, has been accused by investors of having no expansion strategy by not making use of the largest cash position in Russian industry.
		Surgut's shareholders approved yesterday a dividend of 0.032 rouble per ordinary share and 0.096 rouble per preferred share for 2002, down from 0.033 and 0.100 rouble for 2001.
		The head of Surgut, Vladimir Bogdanov, told shareholders he expected this year to be very difficult because while the company planned to maintain output growth, state pipeline monopoly Transneft was unable to accept rising volumes.
	www.gulf-news.com /Articles/news.asp?ArticleID=81540 (418 words)

	The Harvard Crimson :: News :: Harvard Submits Claim Against Oil Co.
		In the arbitration claim, Harvard accused Surgut of submitting annual profit figures to shareholders as much as 79 percent lower than those it submitted in tax reports to the Russian Federation—a practice Harvard said is illegal.
		Because Harvard holds “preferred” shares of Surgut, it is entitled to a yearly dividend payment based on Surgut’s net profits, said Megan Kelleher, a spokesperson for Sowood Capital Management, which is handling the case on behalf of Harvard.
		Surgut added in the statement that deducting capital investment from net profits is legal in the Russian Federation, and that it had a nearly decade-long history of deducting the cost of capital investments before declaring net profits to shareholders.
	www.thecrimson.com /article.aspx?ref=502991 (728 words)

	Surgut, Russia, Pictures
		Surgut is located along the Ob' River in the West Siberian Plain.
		Surgut is the primary regional producer of energy, with two large thermal power plants that provide electric power to most of the oil and gas industries in western Siberia.
		Surgut has several educational institutions, including a branch of the Tyumen' Industrial Institute, a technical training institute, and a musical training center.
	www.greatestcities.com /Europe/Russia/Surgut (307 words)

	Surgut on Encyclopedia.com (Site not responding. Last check: 2007-10-30)
		An oil and gas center as well as a port, it is connected by rail and pipeline to the Urengsy gas fields.
		Surgut Denies Payment of Appropriate Dividend to Harvard and Other Preferred Shareholders; - Contractual Obligations Again Ignored; Harvard Presses International Class Action to Retrieve Millions of Dollars of...
		Harvard Commences International Class Action Against Russian Oil and Gas Giant Surgutneftegaz; Surgut Ignores Contractual Obligations to Preferred Shareholders, Denying Them Millions of Dollars of Dividend Income.
	www.encyclopedia.com /html/S/Surgut.asp (254 words)

	The Harvard Crimson :: News :: Univ. Oil Suit Heats Up
		The firm, Surgutneftegaz (Surgut), and the University are embroiled in legal wrangling—initiated this summer—over dividend payouts for Harvard’s American Depository Receipts (ADRs), certificates representing shares in foreign companies.
		On March 25, Surgut’s board approved a dividend of 2.19 cents per preferred share; last year’s payout was roughly a half-cent, according to Bloomberg.
		Skinner said that Surgut is challenging Harvard’s right to demand arbitration from the AAA and is asking a federal court in New York to stay the arbitration.
	www.thecrimson.com /article.aspx?ref=506793 (518 words)

	Harvard, Russian Lawsuit - JRL 6-30-04 (Site not responding. Last check: 2007-10-30)
		The pioneering claim against Surgut, in which Harvard owns an estimated $130 million worth of preferred shares of stock via American Depositary Receipts, could end up costing the closely held oil company hundreds of millions of dollars.
		In the papers it filed with the American Arbitration Association, Harvard alleges that Surgut has paid holders of its preferred shares only 20 percent of the dividends to which they are entitled.
		Surgut general director Vladimir Bogdanov justified the modified calculation in a letter to then-Prime Minister Mikhail Kasyanov in 2001, writing that if the dividends were paid out in full, the company would be sending "a considerable part" of its cash flow to shareholders abroad, contributing to capital flight.
	www.cdi.org /russia/johnson/8275-21.cfm (966 words)

	RIGZONE - Harvard Files Suit Against Surgutneftegaz (Site not responding. Last check: 2007-10-30)
		Retention by Surgut of virtually all the company's earnings benefits management at the expense of the company's preferred shareholders despite clear contractual obligations to this group of security holders.
		Surprisingly, as Harvard's demand illustrates, Surgut management has expressly admitted its failure to distribute dividends to preferred shareholders, justifying this illegitimate action with the argument that payment of dividends to foreign preferred shareholders would be an inefficient use of capital.
		Bogdanov argues that the calculation of net profits as required by the charter "results in a considerable part of cash flow in the form of dividends leaving abroad to shareholders who are mostly registered in off-shore zones." This admission by Mr.
	www.rigzone.com /news/article.asp?a_id=14339 (554 words)

	Bloomberg.com: Europe (Site not responding. Last check: 2007-10-30)
		Surgut shares doubled in the 2 1/2 years to July 2003, worst among Russia's largest oil companies, as Surgut stuck with its Russian managers, shunned foreign contractors and spent more on exploration than its rivals did.
		Surgut paid an effective tax rate, or net income divided by taxes paid, of 25 percent from 2000 to 2003, according to Hermitage Capital.
		Yugansk and Surgut are based in western Siberia's Tyumen region, 1.43 million acres of forest and swamp that produce 70 percent of Russia's oil and 95 percent of its natural gas.
	quote.bloomberg.com /apps/news?pid=10000085&sid=aA3D5LZPYG5A&refer=europe (2343 words)

	newsroom - stop press - story (Site not responding. Last check: 2007-10-30)
		Mott MacDonald has been appointed by the Surgut City Administration to help rehabilitate the water supply, wastewater and district heating systems for the central Russian city in the west Siberian Plain — part of an Euro 75 million strategy to improve and redevelop the city’s infrastructure.
		Surgut’s rapid growth — its population has expanded from 34,000 in 1970 to approximately 300,000 in 2003 — combined with unplanned development by several agencies has resulted in many years of under investment in Surgut’s infrastructure, which has led to unreliable performance and inflated energy costs.
		Surgut is one of the first Russian cities to achieve a credit rating enabling it to qualify for a direct loan from the EBRD.
	www.mottmac.com /html/05/news.cfm?id=569&fuseaction=story&oldfuseaction=category&categoryid=15&year=2003 (341 words)

	Canada and the Circumpolar World - First Congress of Northern Civilizations: Problems and Perspectives (Site not responding. Last check: 2007-10-30)
		The First Congress of Northern Civilizations took place in Surgut on June 9-11, 2004, but was extended to June 13th to participate in Surgut's 410th anniversary celebrations.
		The Congress was organized by 60th Parallel, a Surgut-based NGO and attended by over 300 Russian and foreign delegates from Finland, the United Kingdom, and Canada, including academics, scientists, cultural figures and businesspeople.
		Surgut, located in the Khanty-Mansi Autonomous Region of Siberia, on the Ob River, is an oil and gas centre as well as a port.
	www.dfait-maeci.gc.ca /circumpolar/congress-en.asp (367 words)

	Alexander's Gas & Oil Connections - Surgut Oil shareholders authorises share issue (Site not responding. Last check: 2007-10-30)
		Surgut said in a statement that 98 % of shareholders voting had approved a change in the charter, authorising 12 bn new shares, 38 % of previous share capital, and had given up right of first refusal to buy the stock.
		At the same time analysts continued to recommend shares of Surgut production company and praised management for its ability to lead the firm.
		Management has said the consolidation will take months, and the share authorisation must be followed by a board meeting to issue shares, as well as a decision on terms for the swap of shares between producer OAO Surgutneftegaz and holding NK Surgutneftegaz.
	www.gasandoil.com /goc/company/cnr01411.htm (220 words)

	Surgut -- Encyclopædia Britannica (Site not responding. Last check: 2007-10-30)
		Incorporated in 1965, Surgut is one of the main administrative and supply centres of the Western Siberian oil fields.
		The city grew rapidly, especially in the 1970s, as a result of the discovery of large oil fields nearby.
		Along with Surgut, Nizhnevartovsk is a major administrative centre of the middle Ob oil fields.
	www.britannica.com /eb/article-9070447?tocId=9070447 (360 words)

	Surgut Hotel Medvezhy Ugol, Russia. 4 star hotel
		The Medvezhy Ugol Hotel is conveniently located in a quite, ecologically-clean district of Surgut, Russia.
		The Surgut Hotel was opened on Saint Valentine's Day — 14th February, 2004.
		The Surgut Hotel is also ideal for stars, businessmen, travelers, families with children and other visitors of Surgut.
	www.surguthotel.com (266 words)

	BBC NEWS \| Business \| Hunger strikers ground Siberia's planes (Site not responding. Last check: 2007-10-30)
		The Surgut strikers are demanding improved working conditions and a doubling in pay, which currently averages just 15,000 roubles (£300; $470) a year.
		Already, 20 Surgut strikers have been declared unfit to work, and three have been taken to hospital.
		The average wage in the Tyumen oil region, which contains Surgut, is more than 12,000 roubles a month, one of the highest in Russia and three times the national average.
	news.bbc.co.uk /2/hi/business/2547351.stm (351 words)

	RUSNET :: CIS Today :: 2004/03/05 :: Investors Suing Surgut Over Stock Ownership
		The lawsuit, filed at the Khanty-Mansiisk autonomous district arbitration court on Thursday, is based on the law on joint stock companies, which requires companies to cancel any treasury stock that hasn't been sold within a year, said William Browder, CEO of Hermitage Capital Management.
		Hermitage is leading the consortium of Surgut's minority investors that joined forces against the current management.
		According to Surgut's own financial statements from 2002 to 2004, Browder said, interest earned on the company's average cash balance remained at 1.4 percent, while Yukos oil major earnings were 9 percent and 8.1 percent.
	www.rusnet.nl /news/2004/03/05/businesseconomics01.shtml (443 words)

	Chemical Week: Russia revives plans for petrochemicals at Surgut.@ HighBeam Research (Site not responding. Last check: 2007-10-30)
		Russia has resurrected plans for a Surgut, Siberia, petrochemical complex.
		Russia has revived plans for a petrochemical complex at Surgut in Siberia.
		Initially conceived as a government investment under the former ministry of oil refining and petrochemical industry, it called...
	www.highbeam.com /library/doc0.asp?DOCID=1G1:14709875&refid=ip_encyclopedia_hf (199 words)

	Union of Councils for Soviet Jews: Surgut Skinheads Charged With Three Murders (Site not responding. Last check: 2007-10-30)
		A group of teenage skinheads have been charged with three murders in the far northern city of Surgut, Russia (Khanty-Mansiysk Autonomous Okrug), according to a September 29, 2004 article in the local newspaper Novy Gorod.
		Surgut has previously been the scene of skinhead violence.
		In 2003, a group of ten skinheads who attacked two Tajiks in April 2002, killing one of them, were sentenced to between four and eight years in prison.
	www.fsumonitor.com /stories/101104Russ2.shtml (173 words)

	BLACK SNOW:
		As of July 1995 Surgut had the highest crime rate in Tyumen Oblast, and only 48% arrest rate, and West Siberian oil companies were in debt 21 trillion rubles to the central government..
		In Surgut Region, the Trom-Aganskii and Pimskii Khanty north of the Ob= were in the midst of a losing battle to contain development to the lower reaches of those rivers, while the Yuganskii Khanty were under pressure from oil companies to open up their territories.
		The principal concern of the leadership was to strengthen the weak coherence of local group identity as a response to the oil industry=s strategy of negotiating leases with individual Khanty families.
	www.nmsu.edu /~english/hc/IMPACTOIL.html (5529 words)

	SurfWax: News, Reviews and Articles On Surgut
		Prosperity had calculated that Surgut, which accounts for 13% of Russia's oil production, was understating profits to avoid paying "substantial" dividends...
		After losing in Surgut's home base in Siberia, the fund appealed to an arbitration court in Moscow and lost again.
		In the oil town of Surgut, 250 miles south of Noyabrsk, on the day the government auctioned its stake in Surgutneftegas, the airport was closed, the roads blocked by police, and only one bid was received - from Vladimir Bogdanov, the resident general director of Surgutneftegas.
	worldcities.surfwax.com /files/Surgut_Russia.html (1465 words)

	GN Online: Surgut likely to prune cut dividends further (Site not responding. Last check: 2007-10-30)
		They said the firm told analysts at Saturday's shareholders' meeting in Surgut that the book value of its assets would triple after an asset revaluation later this year.
		Mattias Westman, a fund manager from Prosperity Capital Management which lost a legal challenge to Surgut's dividends and may file a suit again this year, said he would not be surprised if Surgut cut its "already tiny" dividends.
		Surgut announced it would maintain the pace of output growth, which is set to reach 48.5 million tonnes (970,000 barrels per day) of crude from 44 million tonnes last year, he said.
	www.gulf-news.com /Articles/news.asp?ArticleID=46153 (516 words)

	Surgut Denies Payment of Appropriate Dividend to Harvard and Other Preferred Shareholders
		Arbitration against Surgut appears to be the only way to retrieve the full amount of dividends owed to Harvard and other preferred shareholder class members," said Robert Skinner, a partner of Ropes & Gray LLP who represents Harvard in the arbitration.
		Background to Harvard's International Class Action Arbitration Against Surgut On June 29, 2004, President and Fellows of Harvard College filed a demand with the American Arbitration Association in New York on behalf of holders of American Depositary Receipts (ADRs) representing Surgut preferred shares.
		Surgut has done so by manufacturing an artificially low "net profit" figure unrelated to the company's actual net profits that it recognized and reported for tax and accounting purposes.
	www.prnewswire.com /cgi-bin/stories.pl?ACCT=109&STORY=/www/story/03-25-2005/0003248192&EDATE= (624 words)

	IRPP (Site not responding. Last check: 2007-10-30)
		Faced with the prospect of dissolution, the Scientologists in Surgut tried to register a corporation as a non-profit partnership, but this was again rejected on the grounds of the organization's religious character.
		Scientologists in the region therefore established the Church of Scientology of Surgut City, and in August 2000, that Church applied for registration as a religious organization.
		Consequently, in August 2001, the President of the Surgut Church appealed to the European Court of Human Rights on the grounds that the 1997 Religion Law violates the European Convention on Human Rights.
	www.religionandpolicy.org /show.php?p=1.1.1246 (2751 words)

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