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    Russia to Attract More Foreign Investment

    Sept. 20 – Foreign investors are optimistic about Russia’s future attractiveness, according to Ernst & Young’s first Russia Attractiveness Survey published on the company’s web site. A total of 75 percent of international business leaders interviewed by Ernst & Young said Russia had an attractive domestic market, with about one-third of them calling it “very[…..]

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    Oil Tax Reforms to Be Set in Weeks

    Sept. 19 – Oil tax reforms should be set shortly, a senior Exxon executive told reporters last Friday. Russia’s top oil producer Rosneft signed a major deal with ExxonMobil last month to drill for oil and gas in the Russian Arctic without a clear tax regime for the potentially capital-intensive project. The initial commitment was[…..]

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    Russia Wants to Boost Trade with Korean Peninsula

    Aug. 16 – In a message to North Korean Supreme Leader Kim Jong-il, Russian President Dmitry Medvedev said his country is willing to step up cooperation with both Koreas including a trilateral project in gas, energy and railway construction, North Korea’s state-run KCNA news agency reported Monday. “[The project] will contribute to stabilizing the situation[…..]

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    Lithuania to Break Gazprom Control Over its Energy Market

    Jul. 15 – Lithuanian President Dalia Grybauskaite has signed a new law that will break the Gazprom gas monopoly’s control over supplies and distribution in the Baltic state. In doing so, Lithuania has become the first European Union country to begin implementing new regulations seen as a major test of the EU’s determination to slow[…..]

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    Russia and China to Create Green Energy Joint Venture

    Jun. 23 – Inter RAO Unified Energy Systems and China’s National Bio Energy Co. agreed to create the Green Energy Corporation joint venture by the end of 2011 to overhaul inefficient power plants that run on coal and fuel oil to include the use of biomass, according to the Russian state-run corporation’s web site. Green[…..]

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    Russia’s Economy Ministry Forecasts Economic Growth to Slow Down

    Jun. 3 – Russian economic growth may slow more than previously forecast next year as oil prices stagnate and the government uses its energy revenue this year to rebuild the nation’s sovereign wealth funds, the Economy Ministry said. The ministry revised down its growth forecast to 3.5 percent in 2012 from the previous estimate for[…..]

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    Indian Businesses to Enter Russia’s Oil Market

    Jun. 1 – Indian ONGC Videsh Ltd (OVL), the overseas arm of state-run Oil and Natural Gas Corp. Ltd, is in talks with four other state-run oil firms to acquire 25 percent equity in an entity that is proposed to be formed with Russian oil-to-telecom conglomerate AFK Sistema, The Times of India reports. Sistema owns[…..]

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    Russia Increases Export Duties to Keep Gasoline at Home

    May 3 – The Russian government has increased the gasoline export duty by around 44 percent starting from May to curb exports and fight a fuel shortage at home as companies preferred to sell gasoline overseas due to capped domestic prices. The tariff, tied to international prices for gasoline, will stand at US$408.3 per ton[…..]

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    Gasprom, Japanese Companies to Build LNG Plant near Vladivostok

    Apr. 28 – State-run gas Gazprom and a consortium of Japanese companies led by Itochu Corp. have agreed to study building a liquefied natural gas (LNG) plant and a gas chemical complex in Russia’s Far East city of Vladivostok, as Japan seeks to boost fuel supplies after its worst nuclear accident. The companies will carry[…..]

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    Russians to Send Oil to China via Northern Sea Route

    Apr. 21 – OAO Sovcomflot, Russia’s largest shipper, and OAO Novatek will send 3-4 cargo of gas condensate on a second voyage across the so-called Northern Sea Route rather than the Suez Canal, a senior Sovcomflot official said on Wednesday. Last August, Sovcomflot shipped a high-tonnage Aframax tanker with 70,000 metric tons of condensate cargo[…..]

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