fbpx

Energy Blast – Feb 17th, 2009

Following meetings with President Evo Morales, President Dmitry Medvedev announced that Gazprom is in talks to build a system of gas pipelines in Bolivia in work that could stretch through to 2030.  Deputy Prime Minister Igor Sechin says Russia is working towards creating a state reserve to buy crude from producers when prices are low, potentially removing up to 16 million tons of Russian oil from export markets and helping OPEC to stabilize prices.  Reuters reports that Sechin’s attempt to secure two loans worth a total of $25 billion from China for its state-controlled oil firm Rosneft and Transneft pipeline operators has succeeded.  Gazprombank has lent $100 million to Russian oil firm Slavneft to fund ongoing activities over the next two and a half years.