09/02/2012 Flight of Hope, Baby White Cranes Salvation Project, Opens the Cycle of the 2012 Expeditions to Uzbekistan 
08/02/2012 "Minsk-City": Office Premises in the Complex First Business Center are on Sale
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29/01/2012 ITERA: 20 years in the gas market
(Magazinå "ÒSR", Ekaterinburg)
27/01/2012 ITERA-GEORGIA completed work to ensure provision of gas supply to KvemoNikozi village
(Georgia Online (apsny.ge), Tbilisi)
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ITERA International Energy L.L.C. sold its block of shares with J.V. Moldcarton
ITERA International Energy L.L.C. has sold its block of shares with J.V. Moldcarton. It resulted from the fact that despite considerable investments by ITERA (over US$20 million invested since 2002) the combine remained a loss-maker. The situation was aggravated by financial and economic crisis in the pulp and paper industry. The demand on the Combine’s produce plunged in the second half of 2008 and it was halted.
Despite this, ITERA continued financing the enterprise. This allowed the payment of wages to workers of the Combine until the date of the sale and withholdings in favor of Moldova budget.
The entire situation and the strategy of the Company to concentrate on the gas business approved in 2007, predetermined the ITERA decision to sell the block of shares and give up its shareholding.
18/12/2009
Press Service,
ITERA Oil and Gas Company
Tel.: (495) 411-8631 |
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