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Russia Restores Licences For Sakhalin Energy Project
Moscow (AFP) Feb 06, 2007 Russia's water resources agency on Tuesday restored 12 construction licences for the vast Sakhalin-2 oil and gas project in far eastern Russia that were suspended in December, a spokesman for the Sakhalin Energy consortium said. "The licences have been restored" for Starstroi, a contractor that is building oil and gas pipelines for the project, said Ivan Chernyakhovsky, a spokesman for the Sakhalin Energy consortium. Russian authorities suspended the water use licences in December and gave Starstroi, a Russian-Italian joint venture, two months to correct alleged environmental violations committed during construction. In December, Russian energy giant Gazprom announced it would take a controlling stake in Sakhalin Energy, a consortium including Japanese firms that was previously led by British-Dutch oil major Shell. Environmental violations uncovered by Russian officials in Sakhalin were widely seen by energy analysts as part of a drive by Russian authorities to seize control of the foreign-owned project.
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Climate Change Could Play Havoc With Oil Prices
New York (AFP) Feb 05, 2007Climate change, by disrupting current weather patterns, could play ever greater havoc with the zig zags in oil prices, such as the price plunge seen in early January, market analysts say. The Intergovernmental Panel on Climate Change (IPCC) -- the UN's top scientific authority on global warming -- delivered its starkest warning yet on global warming on Friday. |
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