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    Russia Becomes World’s Largest Supplier of Crude Oil

    Russia has taken over from Saudi Arabia as the world’s largest supplier of crude oil, according to the Riyadh based Joint Organisations Data Initiative. This development will benefit China’s Silk Road infrastructure ambitions, which link Russian oilfields directly to China.

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    Moscow to Restore Ties with Ankara Contrasting Public Opinion

    By Marina Romanova Turkish president Recep Erdogan travels to St. Petersburg on coming Tuesday, August 9th, to meet his Russian counterpart Vladimir Putin to restore two nations’ economic ties being down since Turkish air force dropped Russian Su-24 fighter jet near the Syrian-Turkish border in November 2015. The followed termination of Moscow-Ankara affairs painfully hit[…..]

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    Gazprom to Buy Gas in Brunei

    Jul. 20 – Russian state monopoly (and the holder of the world’s largest gas reserves) Gazprom could begin purchasing liquefied natural gas (LNG) from Brunei after 2013, when current contracts with its partner Brunei LNG will expire, the Russian daily Vedomosti reports, citing documents prepared for Gazprom’s board. Gazprom has been struggling to start LNG[…..]

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    Zarubezhneft Discovers Offshore Oil Deposit in Vietnam

    Jul. 19 – OAO Zarubezhneft, a Russian state oil producer, has discovered an offshore oil deposit in Vietnam, the company said in a statement earlier this week. The deposit is located in the area where the company produces oil jointly with its Vietnamese partner PetroVietnam. “The results of well testing allow us to talk about[…..]

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    Russia to Improve Access to Construction Permits and Energy Infrastructure

    Jun. 14 – Two road maps to improve Russia’s investment climate, by addressing the construction sector and energy infrastructure in particular, have been approved by the cabinet. One of the road maps promises to bring the country to 34th out of 183 countries for getting construction permits by 2020, up from the current 178th. The[…..]

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    Sinopec and Sibur to Produce Rubber in Krasnoyarsk

    May 15 – China Petroleum and Chemical Corporation (Sinopec) and Sibur, the Russian petrochemicals group, have entered into a cooperation agreement to form a butadiene nitrile rubber joint venture in the Siberian city of Krasnoyarsk. The cooperation deal was signed by Sibur’s CEO Dmitry Konov and Sinopec’s president Wang Tianpu at the recent Russian-Chinese Forum[…..]

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    Talks Concerning Russian Pipeline through Korean Peninsula to Continue

    Feb. 7 – North Korea’s new leadership supports an agreement on the proposed extension of a Russian pipeline into North and South Korea. Kim Jong-un, North Korea’s recently appointed 29-year-old “supreme leader of the party, state and army” is looking favorably to gas pipeline construction from Russia that would run across the Korean Peninsula, Russian[…..]

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    Russian Companies to Break into Brazilian Market

    Nov. 8 – The Russian gas giant Gazprom opened an office in Rio de Janeiro last week, while another Russian oil producer TNK-BP announced an agreement to buy 45 percent of the Solimoes Basin project for US$1 billion from the Brazilian HRT Participacoes em Petroleo. TNK-BP and HRT Participacoes em Petroleo will jointly produce oil[…..]

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    Russia to Review its Gas Contract with Ukraine

    Sept. 28 – Russia has agreed to review its gas contract with Ukraine, Ukrainian Prime Minister Mykola Azarov said Monday. “We have finally managed to reach an agreement with Russia on reviewing the contract,” Azarov said at a meeting with a delegation of the Council of Europe’s parliamentary assembly. Ukraine has been pressing Russia for[…..]

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    IMF Recommends Russia Undertake Economic Reforms

    Sept. 22 – Russia must make fundamental changes to its fiscal and monetary policy in the next few years to reach stable economic growth and reduce the country’s vulnerability to external shocks, the International Monetary Fund said Wednesday. Under the current economic scenario, Russia will remain vulnerable to shocks, with GDP showing modest growth of[…..]

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