Yesterday heralded the start of global climate talks, attended by representatives of 200 nations, to discuss the future of the Kyoto Protocol aimed at cutting the greenhouse gas emissions. EU negotiators have apparently warned climate negotiators that the world needs a far more ambitious plan than the existing Protocol. According to Reuters, Russia’s state-controlled oil giant Rosneft will apparently pay $1.2 billion up front and also give a $1 billion loan to Venezuela’s state company PDVSA for access to the Carabobo 2 block, in the southern Orinoco extra heavy crude belt, which Venezuelan Energy Minister Rafael Ramirez said could eventually produce 400,000 barrels per day. China National Offshore Oil Corp apparently plans to build the country’s first floating liquefied natural gas facility off of the northern city of Tianjin. Eurasia Drilling is reportedly aiming for a premium listing on the London Stock Exchange, becoming the latest in a line of Russian firms attracted by the prestige value that London offers.