All right. some of this will read like Chinese to some of you. that is because some of you haven't gotten to grips with the ENTIRETY of the resource wars going on (You're not supposed to ....).

However this is quite an unexpected turn of events UNLESS you are aware that other nations are PLAYERS, too. (God, when will the CIA wake UP!)

And remember, the demand for oil goes up 2 million barrels PER DAY.


China-Rosneft JV worries govt, Deora heads for Russia
Jyoti Mukul Friday, October 27, 2006 22:22 IST



NEW DELHI: India will be freshening up its energy relations with Russia with petroleum minister Murli Deora leaving for Moscow on Sunday morning.

Officially, Deora is taking part in the Moscow Energy Week, though it appears the minister is keen to match Chinese energy diplomacy with Russia.

The latest in the Chinese move has worried government circles here.

China National Petroleum Corporation (CNPC) and state-owned Russian company OAO Rosneft have formed a joint venture called Vostok Energy for oil exploration in Russia. Rosneft made a formal announcement last week.

The Chinese company was one of the three “strategic” subscribers to Rosneft’s controversial initial public offering earlier this year. On its part, India has been trying hard to partner Rosneft for oil exploration there for more than two years now.

The only success in oil production business in Russia had been Sakhalin I way back in June 1996. Sakhalin-1 field is expected to pump in 250,000 barrels per day (bpd) of crude oil by the year-end.

ONGC Videsh Ltd (OVL), a 20% shareholder in the field, plans to transport an oil cargo for its sister company Mangalore Refinery & Petrochemicals Ltd next month.

On the sidelines of a MoU signing between Petronet LNG Ltd and the Delhi government on Friday, Deora told reporters that he would be seeking participation of Indian companies in exploration field Sakhalin III.

Deora would meet Russian minister of industry and energy Viktor B Khristenko on the second day of his four-day visit starting October 30. (Hey, guyz, the truth is Putin tuns the whole dang oil and gas scam ... it was how he got ahead in the KGB so pay attention if you can.)

Senior ministry officials told DNA Money that Deora was also likely to meet senior executives of Russian oil companies. Indian Oil Corporation chairman Sarthak Behuria, OVL managing director R S Butola and petroleum secretary M S Srinivasan would accompany the minister.
“IndianOil may look at stitching up long-term crude oil supply from Russia, even though the country’s distance from India has so far made Russian oil expensive for refineries here,” a senior ministry official said.

Unlike China that is linked to Russia and other CIS countries through pipelines, India has found geography coming in the way of its hydrocarbon relations with Russia. Besides crude oil, India is keen on exploring LNG supply from that country. India requires natural gas in piped or liquefied form to meet its power deficit.

Deora quoted the draft 11th Plan Report on Petroleum and Natural Gas, projecting a demand of about 282 million metric standard cubic metre a day (mmscmd) by 2011-12, of which about 44% is expected to be utilised by the power sector.