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National Economic Trends -
Russian Finance Ministry to place 100 billion roubles of temporarily free budget funds in three-month deposits at commercial banks at a minimum bid rate of 12.0 percent.
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Russia c.bank injects 22.53 bln roubles via repos
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Russia daily c.bank swap limit at 5 bln rbls
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Large deficits to generate heavy borrowing - Increased public borrowing could bring the debt to GDP to 16.4% in 2012, according to the Ministry of Finance.
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Funds Down $5.9Bln in July
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Russian government spent $46bn of its savings in 7M09
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Unemployed Drops by 0.3%
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Official unemployment falls to 2.14m
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Farming Output May Fall - Crop production may decline 4.5 percent this year, the newspaper said. Russia imported $35.2 billion of food in 2008 and exported $9.4 billion, Kommersant said
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Ruble Gains Most in 2 Weeks on Oil
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Russia’s ‘Unsustainable’ Deficit Threatens Growth, Troika Says
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Putin Opts for a Large Deficit and Small Investment 2010 Budget
Business, Energy or Environmental regulations or discussions -
Russian Stocks Fall First Time in 4 Days; VTB, Polyus Gold Drop
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Obstacles Remain to Foreign Share Issues - Last month, the Federal Service for Financial Markets increased restrictions on Russian companies listing shares abroad, effectively limiting initial public offerings on foreign markets to 5 percent of the company’s value. Firms with more liquid stock would be able to list up to 25 percent of their equity abroad.
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Russia's VTB Q1 loss wider than forecast
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VTB Bank posts Q1 IFRS net loss of 20.5 bln rubles, worse than forecast
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Mechel Takes Over Failing Steel Factory - Mechel will take over management of Zlatoust steel mill, the Chelyabinsk region said Monday, in a deal many say was driven more by political than economic considerations.
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Alrosa Resumes Diamond Sales - Alrosa resumed sales of unpolished gems in the market in July after a seven-month halt triggered by a collapse in demand stemming from the world recession, the company said Monday.
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ALROSA July Sales Reach $150M  - ALROSA has resumed its rough diamond sales and sold $150 million worth of goods to the market in July, the Russian diamond mining company reported.
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Russia's Sibirtelecom halves 2009 capex plans
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URALCHEM announces the production results for the first half of 2009
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Russia's PIK subsidiary faces bankruptcy lawsuit
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One-Third of Russia’s Clothiers Are Going Bust, Exporters Say
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Russia specifies FSC timber for Winter Olympics
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Logging Laws Cut Investment - Financial crisis aside, Russian forests are not commercially attractive to international timber companies, which would need to invest more than 1 billion euros ($1.4 billion) to build a single large paper plant in a forest-rich area. The high cost is associated not only with the plant but with the construction of transportation, energy and housing infrastructure required to reach the country’s 880 million hectares of forests, much of which is remote and underdeveloped.
Activity in the Oil and Gas sector (including regulatory) -
Russia looks to revive oil deal with Iraq signed with Saddam - "In the first half of August, I will visit Baghdad," Russian Energy Minister Sergei Shmatko said on July 31.
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Petrom reports new oil and gas discoveries in Russia - Petrom, the largest oil and gas producer in South-East Europe has reported both gas and oil discoveries in the exploration well Lugovaya. The well is located in Kamenski license in the Saratov region (Russia).
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Matra subsidiary contracts drilling rig - Matra is pleased to announce that its 100% owned Russian subsidiary “OOO” Arkhangelovskoe” has signed a turnkey contract with Petro-Management Drilling Company for the drilling of well-13 in the Sokolovskoe Field in Orenburg. The rig to be utilised is an Uralmash-4E electric rig.
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Tatneft Drills Horizontal Wells in Tatarstan Oil Fields
Urals Energy finally transfers Dulisminskoye field to Sberbank - might be a new owner very soon
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Exxon Ignores Pleas From 50,000 People To Halt Damaging Activities That Threaten Rare Whales - The petition urges Exxon, Rosneft, and other oil companies operating in the area to suspend all oil and gas development activities near the critically endangered Western Gray Whale*s annual feeding habitat off the coast of Sakhalin Island, and calls for the creation of the Sakhalin Marine Federal Wildlife Reserve.
Gazprom -
Scorpion Offshore risks losing USD3.8m revenue in Gazprom dispute
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Full Text Articles Basic Political Developments
Turkey eyes energy role with Russia
http://www.middle-east-online.com/english/business/?id=33535
Putin's energy agenda in Ankara likely to include discussing oil, gas, nuclear power plant projects.
By Sibel Utku Bila - ANKARA
Russian Prime Minister Vladimir Putin is to visit Ankara Thursday for talks expected to focus on energy cooperation amid a growing Turkish role in projects to carry gas and oil to Europe.
"Cooperation in the field of energy will be a primary issue on the agenda," an aide to Turkish Prime Minister Recep Tayyip Erdogan said.
Situated between Europe and the vast oil and gas fields of the Caspian Sea and the Middle East, Turkey has emerged as a hub for pipelines to supply the energy-hungry West.
Last month, Ankara hosted the signing of a long-delayed accord to build the Nabucco pipeline to carry Caspian gas via Turkey to Bulgaria, Romania, Hungary and Austria, bypassing Russia.
The project, planned to become operational in 2014, aims to reduce European reliance on Russia and avoid a repetition of cut-offs that disrupted winter supplies and sparked accusations Moscow was using gas as a political weapon.
Turkey however has been careful not to antagonise Russia -- its top trading partner and main gas supplier -- and Erdogan has insisted that Russia should also join the countries that would provide gas for Nabucco.
"This is a long-term proposal," Erdogan's aide said. "Russia's participation in the project would not harm the aim of diversifying energy supply."
In direct competition with Nabucco, Russia is pushing for its own project to pump gas to Europe -- South Stream -- and may seek Ankara's support to have the pipe pass through Turkish territorial waters in the Black Sea rather than Ukrainian waters, according to Turkish media.
Russia and Turkey are not outright rivals in the energy field and their ties instead resemble "that game in which children try to pull each other to their side across a line," columnist Semih Idiz wrote in the Milliyet daily Monday.
Turkey is already directly linked to Russia through the Blue Stream gas pipeline, which runs under the Black Sea.
Hoping to attract Russian and Kazakh oil, Ankara is also promoting a pipeline from its Black Sea port of Samsun to Ceyhan on the Mediterranean coast, which already serves as a terminal in conduits pumping oil from Azerbaijan and Iraq.
Putin's energy agenda in Ankara is likely to include also a long-delayed project to build Turkey's first nuclear power plant.
Russia's state firm Atomstroyexport was the only bidder in an auction in January, but the Turkish government is yet to decide whether to award it the project amid misgivings over the financial terms the company offered.
Erdogan's aide said the two prime ministers would also discuss regional affairs in the Caucasus.
Russia has been mediating talks between Armenia and Azerbaijan over the Nagorny Karabakh dispute, the settlement of which is crucial for speeding up Ankara's efforts to reconcile and establish diplomatic ties with Yerevan.
Another prominent issue is Georgia, whose NATO membership Turkey supports, despite fierce Russian opposition.
Russia's military intervention in the former Soviet republic last year briefly strained relations with Turkey, which has close economic and political ties with Georgia, its northeastern neighbour.
Turkey sought to tread carefully and proposed a regional platform for stability and cooperation in the Caucasus that will bring together the two foes as well as Azerbaijan, Armenia and itself.
Despite sometimes shaky political ties, economic exchange between the two countries has boomed since the fall of Communism: in 2008, their trade volume hit 37.8 billion dollars, making Russia Turkey's number one trading partner.
Russia supplies about 60 percent of Turkey's gas imports, and more than a million Russian holiday-makers boost Turkey's vital tourism sector each year.
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