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Big deal Markets Oil Commodities Russia and the global economy

Gennady Krasovsky: Oil, OPEC, and the outlook

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Published 13 March, 2009, 12:34

Gennady Krasovsky, Head of Investor Relations at Lukoil, spoke with Business RT ahead of this weekends OPEC meeting in Vienna, about factors determining the demand outlook.

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RT asks

With gold prices hitting all time highs should Russia to be thinking of selling some of its reserves?

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Revised budget goes into deficit Russia’s revised budget for 2009, which the Duma is expected to adopt on Thursday, delivers higher spending but falls into deficit.

Nabucco doubts have upside for Nord Stream and South Stream The EU commission has excluded the Nabucco pipeline from its list of priority projects. The change in mood by the European Union may speed up the construction of South and Nord stream pipelines.

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Home Credit & Finance Bank boosts net profit 85% for FY 2008 Leading Russian consumer lender, Home Credit & Finance Bank, has posted a Net Profit for FY 2008 of 3.659 billion Roubles under IFRS.

Global carmakers in Russia prepare for the longer haul One of Russia’s main economic zones, the Kaluga region, plans to attract $500 million of foreign investment this year, less than a third of its 2008 total, as the key carmaking industry slows.

Nabucco gas pipeline is not on EU’s agenda anymore The ambitious Nabucco pipeline project intended to pump Central Asian natural gas to Europe bypassing Russia has been excluded from EU’s priority projects, a source in the EU’s Council of Ministers said on Tuesday.

Russian government forwards G20 economic proposals The Russian Government has put forward its suggestions for re-building the world financial system, which it wants discussed at next month's G20 Summit in London.

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Rising food prices drive push for greater import substitution Food prices in Russia are growing three times faster than in the rest of Europe, driven by the high level of food imports and a weakening Rouble.

Banking consolidation gets push from financing needs The visit by a team of Credit Suisse bankers to Moscow has bankers in Russia thinking it could be the prelude to consolidation in the domestic banking sector.

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Federal budget deficit pressures regions on outlays The Federal budget deficit will mean regions dependent on Federal support will need to curtail expenditures. That’s likely to see projects delayed as the money runs out.

Reindeer industry braces for downturn as export orders slump 90% of agriculture in Russia's Yamalo-Nenets Autonomous district is based on reindeer breeding, making it the main source of income for the indigenous Nenets people. But the industry is being hit by the economic crisis.

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