EUROPEAN BANK FOR RECONSTRUCTION & DEVELOPMENT (EBRD) approved a $25 million loan to Russia to help fund an emergency oil spill cleanup and pipeline rehabilitation program in the Komi republic. A massive oil spill occurred near Usinsk last summer after the Kharyaga-Usinsk crude pipeline ruptured. Spill cleanup is continuing, with the spring thaw threatening to contaminate rivers in the region and possibly the Barents Sea. EBRD is working with World Bank, which approved a separate $99 million loan for the cleanup and pipeline work.
LOUISIANA LAND & EXPLORATION CO., New Orleans, started up the $83 million, 50 MMcfd capacity...