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Watching The World: Russia's oil weapon

09/06/2010
Russian leaders continue to play political games with their country's oil and gas, now using a new pipeline to China as a means of rattling the oil weapon.That came last week when OAO Rosneft said it would reduce oil exports this year through the export terminal at Kozmino on Russia's Pacific Coast."We will decrease [oil supplies] in 2010, said Sergei Andronov, head of Rosneft's export department. "We plan to supply 7-7.5 million tonnes of oil this year," he said.That's a reduction of 50% or so over the 15 million tpy of oil currently being delivered to Kozmino for export to markets in Asia Pacific, and—Oops!—it's due to a pending increase in supplies to China.T...
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