Energy Blast – May 29, 2009
Robert Amsterdam (May 29th, 2009) Writes:
Oil prices have reached a six-month high, surging to $65 a barrel. The Russian Natural Resources and Environment Ministry has drawn up a proposal to create a reserve of lucrative oil fields. An analysis conducted by the US Geological Survey says that nearly one-third of the world's undiscovered gas is north of the Arctic Circle, mainly lying in Russian territory, meaning the country's control of gas may be 'accentuated and extended'. Central Europe's largest oil company OMV wants to open a delayed pipeline between Bratislava and Vienna as early as next year, which would give it direct access to Russian oil for the first time. Italy has said it would support Moscow's proposal to have the European Union subsidize some of the gas bills that Ukraine is struggling to pay. OPEC will leave its quotas for daily ...
Tags for this Post:
Arctic Circle, Bratislava, Central Europe, crude oil, EU's Nabucco pipeline;, European Union, Finland, Italy, lucrative oil fields;, Market Commentary, Moscow, Oil, OMV;, Organization Of Petroleum Exporting Countries, Romania, Russia, Russian Natural Resources and Environment Ministry;, the New York Times, Ukraine, undiscovered gas;, USD, Vienna
Arctic Circle, Bratislava, Central Europe, crude oil, EU's Nabucco pipeline;, European Union, Finland, Italy, lucrative oil fields;, Market Commentary, Moscow, Oil, OMV;, Organization Of Petroleum Exporting Countries, Romania, Russia, Russian Natural Resources and Environment Ministry;, the New York Times, Ukraine, undiscovered gas;, USD, Vienna


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