Russia plans to invest 1.9 trillion U.S. dollars to improve oil and gas production

MOSCOW, August 26, the Russian government's two news providers, said here today that Russia plans to invest 60 trillion before the year 2030 rubles (1.9 trillion U.S. dollars) to improve the stagnant domestic oil and gas production.

2 news provider said that the Russian energy exports in the Asian market share by 2030 from the present only 6% to 25%. One of them asked not to disclose the name of the news provider said that although the number will continue to increase, however, Russia's energy exports in the European market share will gradually decline.

Russian Energy Minister Sergei Bhishma Zitko said that the Russian energy strategy plan in 2030 will be Thursday by the Russian Prime Minister Vladimir Putin chaired a government meeting be amended. However, he did not provide any details.

In which one of its sources say that the plan is expected Russia's oil output by 2030 from 481.1 million tons in 2008 to 530 - 550 million tons. Natural gas production from last year's 665 billion cubic meters to 880 billion to 940 billion m3.

To this end, the Russian Government plans to show the total number of funds of up to 60 trillion rubles to increase oil and gas production, investment will account for the gross domestic product each year at 5% to 5.5%.

Aug. 27, 2009

Iran, the discovery of new giant oil fields

According to media reports in Tehran August 21, due to the new government's composition, the outgoing Iranian Oil Minister Gholam Hussein Nozari August 18 in Tehran announced that Iran recently discovered a giant oil field .

Nozari is to accept Iran's semi-official news agency Fars News Agency reporter announced the discovery. According to Fars News Agency said the underground deposits of oil giant of "more than 20 trillion barrels of" oil reserves. In addition, the giant oil field still bears 11.37 trillion cubic feet of natural gas.

Nozari added that the giant oil fields in the correct position and the proper reserves, and other information will soon be announced. Nozari said that Iran in the past four years, the first major oil discovery in 17.

Aug. 24, 2009