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By John Helmer in Moscow Russia kept its observer’s status at this week’s summit conference of the Organization of Petroleum Exporting Countries (OPEC), and avoided taking the plunge into membership of the international oil cartel that was hinted at by the Kremlin last week. At the same time, the Kremlin is playing a siren song […]

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By John Helmer in Moscow A 21-day ultimatum has been issued to the Russian government to put up the Grib pipe in Arkhangelsk for development by a joint venture between De Beers and LUKoil; or else De Beers will walk out of Russian diamond mining for good. Sources close to De Beers claim that some […]

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By John Helmer in Moscow The Indian government has until midnight to decide whether to pay a huge premium for undeveloped Siberian oil reserves held by one of the most highly leveraged oil companies in the Russian market. Yesterday, the UK Takeover Panel refused to extend the deal deadline beyond today. The oil is located […]

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By John Helmer in Moscow A surprise board reshuffle announced on Wednesday by the Evraz group, Russia’s largest steelmaker, has triggered a sharp negative market reaction. It has fueled speculation that Prime Minister Vladimir Putin and the board of the state bailout bank, Vnesheconombank (VEB), are unhappy with the way in which Evraz has heavily […]

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By John Helmer in Moscow Prime Minister Vladimir Putin has finally put in writing what Gunvor owner, Gennady Timchenko, has been lobbying the Kremlin to support for several years, ousting Transneft pipeline boss, Semyon Vainshtok, in the process. This is a new state-backed crude oil pipeline for the purpose of putting in business a new, […]

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By John Helmer in Moscow In theory, Russia’s economic performance is correlated with global supply and demand for mined materials and commodities, and thus with the rate of global economic growth, especially China. In the Russian market, 80% of earnings come from commodity stocks. Before the collapse, the enormous gains in market capitalization of Russian […]