News

Russia is considering inviting India's state-run Oil and Natural Gas Corporation (ONGC) to develop oil and gas fields in Russia.

Russia's largest diamond miner Alrosa said on Thursday it planned to sign three-year contracts with three Indian companies on the delivery of uncut diamonds worth $490 million.

Deputy Chair of the Russian State Duma and President of the Russian Gas Society Valeriy Yazev said he is convinced that no matter who is in power in Ukraine, Russia should continue its work to diversify its gas delivery routes to Europe.

Russian Prime Minister Vladimir Putin is due in India for talks expected to focus on arms and energy contracts.

Russian President Dmitriy Medvedev sigend the law On changes to Article 32 of the Federal law On Electric Energy’, the president’s press office has reported.

The Federal Anti-Monopoly Service wants to ban oil companies from buying and building gas stations in regions where they have at least 35 percent of the market.

Ukraine will join the Unified Economic Space of Russia, Belarus and Kazakhstan only on the conditions of the World Trade Organization, President Viktor Yanukovych said on Saturday.

The construction of the Russia-China oil pipeline will be finished by the end of this year, Chinese Foreign Minister Yang Jiechi said on Sunday.

Ukrainian state energy company Naftogaz, often at the centre of energy rows with Russia due to its sketchy ability to pay for gas bills, said today it had preliminary agreement to delay payment of $2.8 billion of debt.

Thousands of miles (kilometers) from the Siberian jail where its founder is imprisoned, representatives of the ruined Russian oil giant Yukos and the Russian government will meet face to face for the first time at the European Court of Human Rights this week.

Gasprom is steering the ’steady’ long-term development of the Astrakhan gas complex.

The number of Russians who have savings accounts has decreased to 24% from 31% in the past four months with fewer people saving money in rubles.

Closer cooperation with Russia should become a major foreign policy priority for NATO.

Russian monopoly Gazprom expects liquefied natural gas shipments to compete with rising output of shale gas in the US as the Russian producer aims to expand into the world’s biggest energy market.

China reached an initial agreement on pricing and supply for natural gas from Russia, energy chief Zhang Guobao said, the Xinhua news agency reported.

U.S. investment in the Moscow Region increased 250%, year-on-year in 2009 to $200 million.

A second wave of economic crisis is unlikely in Russia but the country is braced for a long period of recovery after the global financial meltdown.

Russian monopoly Gazprom, an equal partner with Italy’s Eni SpA in the South Stream natural-gas pipeline project, may reduce its stake to allow Electricite de France to buy shares in the venture.

The Federal Anti-Monopoly Service has given shareholders of the bank Rossia permission to expand their business by merging it with the Gazprom-controlled lender Gazenergoprombank.

TNK-BP said Monday that it was seeking acquisitions after posting a profit in the fourth quarter, following a year-earlier loss.