Finnish environmental officials have given the final permission. The Nord Stream, a German-Russian joint venture, is to begin building the pipeline later this year.  ”In May 2011 the construction is to be completed on the sea section and on land in Germany and Russia,” Russian prime minister Vladimir Putin said. “And gas will start to [...]

As OPEC members cut the production Russia became the world’s largest exporter. Profits and share prices of Russian companies like Lukoil and Rosneft are up and the Russian budget deficit is coming down. New tax incentives in Russia encouraged companies to continue drilling. Andrew Kramer – New York Times, special report  – October 19th, 2009 [...]