Moscow
34 °F
°C
slight snow

EBRD to Invest $2.6Bln in Russia in 2007

The European Bank for Reconstruction and Development will invest more than 2 billion euros ($2.6 billion) in Russian economy in 2007, the bank’s president Jean Lemierre said Monday, Dec. 18.
FULL STORY...

Russia Loses Multibillion Chinese NPP Tender to U.S. Firm

U.S.-based corporation Westinghouse Electric Company has won $8 billion international tender for construction of four new nuclear power plants in China. The tender also included Russia’s state-controlled company Atomstroyexport and French firm Areva. Atomstroyexport has already built a nuclear power plant in China, but this time it lost the tender.
FULL STORY...

Gazprom to Pay Cash, not Assets for Shell’s Stake in Sakhalin Project — Paper

Russian daily Kommersant reported on Monday, Dec. 18, quoting its sources, that natural gas monopoly Gazprom won’t share its assets with Royal Dutch/Shell in exchange for a stake in Sakhalin Energy — operator of Sakhalin-2 project in Russia’s Far East. Gazprom plans to pay for its participation in the project with money.
FULL STORY...

India to Buy More Russian Jet Fighters — DM

The Indian council for defense purchases approved acquisition of an additional set of Russian fighters Su-30MKI for the country’s Air Force, Defense Minister has said.
FULL STORY...

Turkey Covers Gas Deficit with Russian Supplies

Turkey is covering its gas deficit with deliveries of Russian fuel because the country’s second natural gas supplier, Iran, has shipped only one-fourth of the required natural gas in two weeks.
FULL STORY...

Russia Seeks Foreign Fund Manager For Its Petrodollar Stabilization Fund

The Russian Government is considering hiring a foreign fund manager for Stabilization fund, which accumulates windfall oil and gas revenues, and is set to amount to as much as 60 percent of the country’s GDP (about $500 billion). This information was disclosed to The Times by a source in the Russian Finance Ministry.
FULL STORY...

Russia Hires Greenpeace Lawyer to Prepare Case Against Shell’s Sakhalin Project

The British lawyer who represented Greenpeace in the battle with Shell over the disposal of the Brent Spar oil platform has been hired by Russia to prepare a case against the Anglo-Dutch oil company over problems at its development project on Sakhalin Island in the country’s Far East.
FULL STORY...

Russia Postpones Delivery of Su-30MKM Jets to Malaysia

Russia will postpone delivery of Su-30MKM fighter jets to Malaysia until 2007, the management of Irkutsk aircraft manufacturing plant said on Thursday, Dec. 14. 18 jets are set to be delivered to the Southeast Asian country under $900 million contract that was signed in 2003.
FULL STORY...

IEA Warns Russia May Impede Oil and Gas Production Growth in Ex-Soviet Neighbors

Russia’s attempts to increase its control over oil and gas assets may impede production growth in former Soviet Union countries including Kazakhstan and Azerbaijan, the International Energy Agency (IEA) said in its monthly report that was published on Wednesday, Dec. 13.
FULL STORY...