Reports of energy supply cuts denied
Published: 29 August, 2008, 15:30
Part of Druzhba pipeline (AFP Photo / Maxim Malinovsky)
Russia will remain a reliable supplier of energy to Europe regardless of the political relations between different nations says Russia's Energy Minister Sergey Shmatko.
This comes after some media reports that Russia could reduce supplies of oil traveling along the Druzhba pipeline to Europe if the EU places sanctions of Russia.
The European Commission said it hasn't received any formal notices from Russia on any plans to change its energy supplies.
The reports also claimed Russian officials have instructed Lukoil to cut its oil supplies starting from 1 of September. Lukoil denied the rumours and said it could appeal to court over the reports.
29.08.2008, 11:59
West Siberian Resources posts 2Q 2008 Net Profit of $157.8 millionSwedish listed Russian oil producer, West Siberian Resources, has posted a 2Q Net Profit of $157.78 million for 2Q 2008 under IFRS. |
29.08.2008, 15:45
Political tensions add to woes for currency and creditOngoing tensions about the conflict in South Ossettia have added to a volatile month for the Russian Ruble and the stock market. Market players say more capital outflows and a possible worsening of the credit environment are possible. |
