Greece will appeal to the International Monetary Fund to resolve its financial troubles if the EU doesn’t provide it with financial aid, the Greek prime minister George Papandreou said, adding that this chance shouldn’t be missed.Only Germany can save Greece but it refuses to do this. If Greece goes to IMF it will show that... →
Russia's "symmetrical answer" to the "hydrocarbon protectionism" of the West is this: Moscow may impose export duties on timber, Russia's Minister of Natural Resources and Ecology Yuri Trutnev said after the latest session of the National Security Council. Global warming is gradually turning into a stumbling stone in... →
Russia is putting for sale its first strategic oil fields with combined reserves exceeding 200 million tons. The Kommersant newspaper reports, a tender will be announced for the Roman Trebs and Anatoly Titov deposits in the Nenets Autonomous Region with Rosneft and Lukoil oil majors among potential bidders. Analysts say Lukoil may bid jointly with... →
Russia, Belarus and Kazakhstan have reached an agreement of principle on distributing duties within the Customs Union. A statement to that effect came from the Kazakh Prime Minister Karim Massimov at a plenary meeting of Parliament in Astana, Interfax reports. He said that this issue will be submitted for consideration by the three... →
China has finished the construction a one-kilometer tunnel under the River Amur for a future oil exports from Russia through the East Siberia-Pacific Ocean pipeline that will branch out to China. The Chinese section is scheduled for operation by 2011. It will pump up to 15 million tons of crude per year. →
The Organization of Petroleum Exporting Countries will keep the existing oil output quotas unchanged in the next six months. A statement to that effect was made by the head of the Libyan delegation, President of National Oil Corporation Shukri Ganem, following closed-door consultations in... →
Russia’s banking system is showing clear signs of recovery. According to “Standard & Poor’s” analysts, the days of purely pessimistic forecasts are gone as the recent data on the GDP growth stimulate the Russian banking sector and give grounds for optimism. The Agency’s senior analyst Yekaterina Trofimova says... →
OPEC members have in Vienna decided to leave intact the current production quotas, so as not to ruffle the placid waters of consensus between producers and consumers, which has been existing since after the price collapse of 2008. The present stable level of production is important for two reasons: One, a reduction could adversely... →
Greece will appeal to the International Monetary Fund to resolve its financial troubles if the EU doesn’t provide it with financial aid, the Greek prime minister George Papandreou said, adding that this chance shouldn’t be missed. Only Germany can save Greece but it refuses to do this. →
Russia's "symmetrical answer" to the "hydrocarbon protectionism" of the West is this: Moscow may impose export duties on timber, Russia's Minister of Natural Resources and Ecology Yuri Trutnev said after the latest session of the National Security Council. →
Earlier this month we heard from George Nicholov from Toronto. Here’s his question: Are there a lot of Russians who invest in the stock market in Russia? Is it a good idea to invest money in the stock market or not? →
Russia is putting for sale its first strategic oil fields with combined reserves exceeding 200 million tons. The Kommersant newspaper reports, a tender will be announced for the Roman Trebs and Anatoly Titov deposits in the Nenets Autonomous Region with Rosneft and Lukoil oil majors among potential bidders. Analysts say Lukoil may bid jointly with Gazpromneft. →
The world's arms trade has grown by more than 20% over the past 5 years. Russia ranks second after the US in terms of arms exports, according to the Stockholm International Peace Research Institute. The US and Russia dominate the international arms export market from 2005 to 2009. →
Russia , Belarus and Kazakhstan have reached an agreement of principle on distributing duties within the Customs Union. A statement to that effect came from the Kazakh Prime Minister Karim Massimov at a plenary meeting of Parliament in Astana, Interfax reports. →
The Organization of Petroleum Exporting Countries will keep the existing oil output quotas unchanged in the next six months. →
Russia ’s banking system is showing clear signs of recovery. According to “Standard & Poor’s” analysts, the days of purely pessimistic forecasts are gone as the recent data on the GDP growth stimulate the Russian banking sector and give grounds for optimism. →
OPEC members have in Vienna decided to leave intact the current production quotas, so as not to ruffle the placid waters of consensus between producers and consumers, which has been existing since after the price collapse of 2008. →
Russia has come up with an ambitious public and private partnership project at the International Real Estate Market in Cannes. According to the General Director of “Sochi Grand Marine” Konstantin Sakharov, the project provides for an overhaul of the port of Sochi to transform it into a modern passenger and cruise service facility. →
The news agency Interfax has quoted a report by Bloomberg about its interview with US Agriculture Secretary Tom Vilsack last week. Vilsak said that Russia, the fifth-largest buyer of U.S. pork last year, agreed to lift import bans on the meat from U.S. processors that had disrupted shipments for more than two months. U.S. →
The Russian Company “LUKOIL” is planning to begin drilling in Iraq having won a tender at the end of December for the development of “Western Kurna-2” oilfield with the Norwegian “Statoil” in the south of Iraq. According to the contract, signed for 20 years, “LUKOIL” has a 56.3 percent stake. →
Russia ’s industrial output grew 5.8% in January-February 2010, compared with the same period last year. The figures come from a report by the Federal Statistics Service, posted on its website. The extraction of minerals was up 6.7% and electricity and gas production increased 8.1%, the report says. →
The Nord Stream consortium signed the Phase I financing of the pipeline project on March 16 th in London. The financing for Phase I accounts for € 3.9 billion. Another loan of € 2.5 billion for Phase II is expected to be obtained in late 2010. The rest of the money will be provided by consortium's shareholders. →
The euro rose 0,41% to $1.37 as Europe’s finance ministers approved a series of austerity measures to help Greece overcome its debt crisis during the meeting in Brussels on Tuesday. “However, there is no need to worry about the euro”, said Jean-Claude Trichet, President of the European Central Bank →
Turkmenistan’s president Gurbanguly Berdymukhammedov is ready to provide Russia with the needed quantity of gas, Russia’s Foreign Minister Sergey Lavrov told journalists Tuesday after his two-day visit to Ashkhabad." Turkmenistan always has enough gas for Russia, the president said ", - Lavrov noted. →
Numerous reports of the western mass media speak about the gas revolution, caused by an increase in the amount of natural gas produced from shale fields. Shale gas production experienced an 8 per cent growth in the recent three years in the US, which encouraged China to start increasing the share of shale gas to 25 per cent by 2030. →
The global economic crisis has failed to ride roughshod over ever-increasing exports of Russia’s dual-purpose production, Vice Premier Sergei Ivanov told reporters on Tuesday, citing 86 countries that got Russia’s dual-purpose products last year. →
Japanese automakers Toyota, Nissan, Mitsubishi, Fuji, Heavy Industries and Tokyo Electric Power have established an association to begin building stations for rapid re-charge of batteries electromobiles use. Mitsubishi, for one, plans to open the first charger station in 2012. Work on the environment-friendly vehicles is under way in many countries, but so far there is no market for them. →
