Energy Blast – Nov 11, 2008

Prime Minister Vladimir Putin has insisted that Russia develop measures that will allow it to ‘actively influence’ the price of oil, as the New York Times reports that this week’s Russian share drop is the result of lower oil prices. If Russia keeps to its new draft energy schedule, oil production will grow by 8-20% and natural gas by 42% by 2030. A $2.9 billion deal signed by China and Iraq will give the China National Petroleum Corporation a role in developing Iraq’s Al-Ahdab oil field. India’s ONGC has effectively sealed its takeover deal with Imperial Energy, clearing the second of two sets of regulatory Russian conditions, and the deal is expected to be completed in just over two months.