Irish Sun
First published 1880 Friday 3rd September 2010 Issue 0246/8
  • More Breaking Business News

  • Sexual harassment claims lead to big settlement in US
  • Large-sized Mini to hit the streets
  • Royal Mail introduces electronic stamp
  • Accident claim ends with Ford paying restitution
  • Burger King may be selling out
  • Jewish survivors say French Railway should lose US bid
  • Cold winter was good for Gazprom
  • Galaxy becomes competitor to iPad
  • iPod nano has multi-touch interface
  • American and British Airways to coordinate frequent flyer
  • World sees large rises in food prices
  • UK utilities firms in sales probe
    Get Breaking Business News headlines emailed to you daily.

    Oil back in style for Russian companies
    Irish Sun
    Monday 7th September, 2009  


    Russian companies have resumes investment programs in oil production.

    The programs were interrupted by the economic downturn and the subsequent drop in oil prices.

    The head of Russia’s largest privately owned oil
    LUKOIL has said the price of oil is now high enough to allow investment at an exchange rate of 30 roubles to the dollar.

    Russia, the world’s No. 2 oil exporter, cut crude production last year for the first time in a decade.

    Oil and gas companies cut their investments when crude lost more than three-quarters of its value in the second half of last year.

    Prices have since bounced back to nearly $70 a barrel from below $40 in January.

      Email this story to a friend

    Have your say on this story

    Your nickname (optional)
    Message