Finance Minister Alexei Kudrin says Russia may cut its extraction tax by $4.2 billion a year to help companies boost output. The Turkish Energy Minister officially announced the tender for construction of the country’s first nuclear power plant, and Russia’s Atomstroiexport reportedly confirmed its interest in the project. President Vladimir Putin is lobbying the Iraqi government on behalf of companies trying to get involved in rebuilding Iraq’s oil and gas infrastructure. “I hope the Russian business community’s intent to broaden cooperation will receive appropriate support from the Iraqi leadership,” he said in a letter. LUKoil chief executive Vagit Alekperov arrived in Baghdad for talks to revive a Saddam Hussein-era oil deal.