US oil major Exxon Mobil has clinched an Arctic oil exploration deal with Russian state-owned oil firm Rosneft. The venture seemingly extinguishes any remaining chance of UK’s BP reviving its own deal, which lapsed in May.
The United States said Wednesday it would like China to explain why it needs an aircraft carrier amid broader US concerns about Beijing's lack of transparency over its military aims.
Chinese military officials have confirmed that the country is completing work on its first aircraft carrier, based on the hull of Russian carrier Varyag.
The Russian market which has been the main buyer of Uruguayan beef helping to boost cattle prices has virtually ceased operations according to Uruguayan exporters who claim deals are limited to small shipments of livers and tongues.
Global proven oil reserves rose by 0.5% in 2010, boosted by increases in Brazil, India and Russia, according to British Petroleum. Deposits advanced to 1.3832 trillion barrels at the end of last year from a revised 1.3766 trillion in 2009, BP said in its annual Statistical Review of World Energy.
Uruguayan president Jose Mujica warned that several abattoirs will run into deep trouble and might have to close down because of the lack of livestock ready for slaughtering. He also cautioned that “there is not much more the Executive can do”.
World Trade Organization Director General Pascal Lamy warned world leaders that adopting protectionist measures can have “devastating effects” on the global economy. Addressing the G 20 group Lamy called on the leaders to resist “the temptations of protectionism”.
Russia has raised 96 billion roubles (3.3 billion USD) from the sale of a 10% stake in the country's second biggest bank, VTB. The sale marks the start of the government's huge privatisation drive aimed at raising 1 trillion roubles over three years.
Argentina in this 2010/11 campaign has been supplying Antarctic bases and stations with support from a Russian polar vessel equipped with an icebreaking bow and its own Navy units.
A Russian team drilling toward Lake Vostok, a pristine freshwater lake buried 3,750 meters under the Antarctic ice had to conclude its task and will have to wait for the next season to finish off the job.