US Senate Okays Bill On Legal Action Against Gas Cartel

ENERGY TECH

by Staff Writers
Washington (RIA Novosti) Apr 27, 2007
The U.S. Senate Judiciary Committee passed Wednesday a bill permitting legal action against foreign states for oil and gas price fixing and other uncompetitive activities.

The idea of an OPEC-style gas cartel was proposed in January by Iran, the world's second largest gas producer after Russia. President Vladimir Putin has backed the idea, although some Russian officials question the initiative.

The bill makes 'gas cartel' actionable under antitrust laws. The bill also authorizes lawsuits in the U.S. federal court against cartel members by the Justice Department and the Federal Trade Commission.

Russia's Foreign Ministry blasted the move, saying formation of alliances in the oil and gas sphere is the sovereign right of countries.

"This is not the first time attempts have been made by the United States to pass laws and spread their effects beyond its national jurisdiction," ministry spokesman Mikhail Kamynin said.

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ENERGY TECH

Rebels To Release Chinese Hostages As Soon As Possible

Addis Ababa (AFP) Apr 26, 2007
Ethiopian rebels holding seven Chinese oil workers captured during an attack this week on an oil venture in Ethiopia said Thursday they would release them "as soon as possible".

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