Rosneft and Transneft have finally settled their dispute with China over the price of Russian crude supplies, agreeing to a $1.50 discount per barrel (or a total worth of $3 billion). Russia’s domestic gasoline supplies are falling as January exports rose 25% month-on-month. Gazprom Neft says it has replenished its hydrocarbon reserves by 380%. Slovenia’s section of the South Stream natural gas pipeline is expected to cost $1.34 billion, which will be split by a Russian/Slovenian joint venture. Venezuela has no intention of halting fuel supplies to Syria: ‘We have a high degree of friendship and cooperation with Syria, a country under siege.’ The high U.S. output of natural gas could see it surpass Russia as the world’s largest energy producer in the next decade, analysts say. ‘[T]he way Gazprom is run is an accurate model for how Putin rules Russia,’ writes Anders Aslund.