In January 2010, American company Exxon Neftegaz Limited, which is the operator of Sakhalin-1, reported completing two inclined wells at the Odoptu field in the offshore zone of Sakhalin Island. The wells are 9 kilometers deep. The plan is to have 7 wells drilled at Odoptu.

Political analysts unanimously agree that the first year of Barack Obama’s work in office had a positive effect on bilateral relations between Russia and the United States. According to Vyacheslav Nikonov, head of the Politics Foundation, the climate in the relationship “noticeably improved.”

The results of a recent poll conducted by the Russian Public Opinion Study Center shows that the majority of Russian citizens approve the work of President Barack Obama. The poll was conducted in 42 Russian regions in mid-January 2010.  

The relationship with Russia was one of the most important issues in the presidential campaign. Other salient issues included the future development of the nation’s gas pipeline network and the fate of Russia’s Black Sea Fleet.

Russia’s largest non-state-owned oil company Lukoil revealed plans to increase its hydrocarbon production to 2.7 million bbls per day by the end of the current decade. At the same time, the company decided to cut back its investment projects from USD 75 billion to USD 60 billion.

The State Duma of the Russian Federation will in the near future adopt legislative measures to prohibit stockpiling radioactive waste in the country. The lower house of the Russian parliament voted in favor of the bill banning nuclear waste accumulation in the first reading. 

Russian officials met with their Turkish counterparts in Moscow to discuss the construction of the Samsun-Ceyhan oil pipeline on January 13, according to R.F. Deputy Prime Minister Igor Sechin. Russia expects to be actively involved in the project. The ownership share that Russia will have in the venture has not yet been agreed upon.

Russia’s nuclear materials and nuclear services exporter Techsnabexport estimates that in 2010 it will supply uranium products worth USD 1 billion. Atomenergoprom, the only shareholder of Techsnabexport expects three contracts for the delivery of nuclear fuel to be signed soon.

Rusal, the world’s largest manufacturer of aluminum and alumina, paid its creditors 2.143 billion dollars from the proceeds received as a result of its initial public offering at the Hong Kong stock exchange, the NYSE, and Euronext in Paris.

In 2010, passenger vehicle sales in Russia are expected to go up 15 percent to 1.6 million cars. The new forecast was prepared by Stanley Root, a partner of PriceWaterhouseCoopers. According to the less-likely pessimistic scenario, sales of automobiles may decrease by 5 percent to only 1.3 million.

Discussions between Russian regulators and a U.S. task force on the issue of poultry supplies to the R.F. market helped American officials understand Russia’s position. Talks were being conducted in the latter half of January 2010.

Russian regulators are seriously considering altering the system for allocating meat importing quotas. Andrei Slepnev, Russia’s Deputy Minister for Economic Development, said that a method for distributing the quotas through an auction may be introduced.

The Secretary of Russia’s Security Council Nikolay Patrushev noted that the countries of U.S., Norway, Denmark, and Canada are mounting a coordinated effort to block Russia’s exploration of the Arctic shelf.

Oil and gas projects in Sakhalin are expected to produce over 24 million tons of oil and 61 billion cubic meters of gas by the year 2020, according to the Governor of Khabarovsk region Alexander Khoroshavin.

In the foreseeable future, Russia may come to dominate in the nuclear power engineering market in the world, taking more than 25 percent of the market. Russian President Dmitriy Medvedev commented that he fully appreciates these prospects.   

Three modernized passenger airplanes Tu-204SM will be produced in Russia in 2010, according to deputy director of the United Aircraft Company Sergei Gaplerin. Mr. Gaplerin also serves as the deputy general designer of the Tupolev bureau.

According to the Minister of Industry and Trade Viktor Khristenko, the Russian government allocated close to RUR 80 billion for investing in the aviation industry in the current year. Anti-crisis measures taken by Russian authorities have contributed to the growth in levels of investment.

Nuclear-powered submarine Severodvinsk will be the first among the seven vessels constructed within the framework of Project Yasen. The submarine will be placed into service a year earlier than initially expected - not in 2011, but in 2010.   

Russian expert have finalized the building of a spaceport in South Korea in July. The launch pad in Latin America is expected to be completed in October, according to the director of the Russian Federal Space Agency Roscosmos Anatoly Perminov.

The largest oil pipeline company in Russia Transneft made a decision to offer for sale a 10-year bond valued at RUR 65 billion. The bond was offered to 14 banks. The bond was released for sale in September based on the decision of Transneft’s boards of directors.

VEB’s board voted to affirm the issuance of a USD 545 million loan to Rosneftebunker for exploring and developing the Ust-Luga venture. The loan will mature in 8 years, according to the chief executive officer of VEB Mr. Vladimir Dmitriyev.

Workers at the Ashalchinskoye bitumen field in Almatyevsky region of Tatarstan are now using advanced heavy oil rigs for recovering hydrocarbons. The Ashalchinskoye field belongs to Russia’s oil company Tatneft. 

In accordance with Offshore Vigilant’s contract with Gazprom in Venezuela, Gazprom informed Scorpion that the 550 hours the company spent working on the well in May 2009 have been lost as a consequence of a “fishing job.” The payment of USD 3.8 million for the work rendered is now in dispute.

On August 21, 2009, the Vankor oilfield located in the Krasnoyarsk territory officially entered production. Prime Minister of Russia Vladimir Putin took part in the ceremony celebrating the oilfield’s launch.

Gunvor, the global fuel trader based in Switzerland, entered into a contract to purchase 30 percent of the Lagansky oil and gas block in the Caspian Sea. The company bought the block from Lundin Petroleum. Before the purchase, Lundin controlled 100 percent of the project.   

The Federal Court of Arbitrazh for the Moscow District refused to reconsider the complaint for RUR 1.318 billion that was filed by Energotrade against oil major Rosneft. Energotrade is a little-known energy trader.

The company’s bottom-line profit fell to approximately RUR 609.7 million. Last year, profits for the first half of the year were RUR 708.7 million. Profit from sales decreased from RUR 270.7 million to RUR 191.9 million. Profits before taxes dropped significantly to RUR 38.3 million from RUR 177.4 million.

The largest Russian oil company Rosneft has completed the buyout of 847 954 shares of stock from minority owners of the company. The company paid out more than RUR 133 million to facilitate the buyout.

Production at Russia’s gold mines was up in the first half of the year by 27 percent on year-on-year basis, according the Union of Gold Producers. The total quantity of gold mined in the first six months of 2009 was 66.94 tons.

Multiregional TransitTelecom, a provider of long-distance telephone services, began its venture into the high-speed internet market when it launched commercial broadband operations in the city of Yaroslavl early in September of 2009. 

Officials of the Russian Federal Customs Service have discovered the operations of an organized group that was bringing luxury yachts from Italy and England without paying import tariffs. The smuggling business was active from 2007 to 2009.

Dmitriy Medvedev said that he may decide to seek reelection in 2012. “Provided that I work well and am successful in everything, why should I not run? If I have the trust and support of the Russian people, this decision would be absolutely normal,” said the incumbent President of Russia.

Arkady Dvorkovich, a top aide to President Dmitriy Medvedev, stated that the rise in the price of oil to nearly USD 60 a barrel will result in greater revenues for the state budget. Extra income could be as high as RUR 500 billion in the current year.

The President of Russian Dmitry Medvedev stated the he will organize a special commission for economic modernization and technological development. The commission will include members of the presidential executive office in addition to business representatives, industry analysts, and scientists.

Russia’s Federal Anti-Monopoly Service has granted approval for establishing the largest private bank in the country. Yulia Bondareva, head of the FAS financial markets oversight department said that the agency has extensively analyzed the merger of MDM Bank and URSA, and there are no reasons to impose any restraints on the transaction.

According to the information provided by sources connected to the shareholders of Sibur Holding, the company has intentions to issue extra shares of stock totaling in value up to 10 bln. roubles. There exists a high likelihood that the new stock may be purchased entirely by Gazprombank, which currently owns almost 70 percent of Sibur.  

Rosneft has intentions to construct a plant specializing in petrochemical production close to the Pacific Ocean coast. The plant will allow Rosneft, the largest producer of oil in Russia, to boost its exports to Asia, according to the Governor of Primorye region Sergei Darkin.

On May 18, 2009, a new direction in the nuclear-power-generation industry was launched at St. Petersburg, as Russian scientists and engineers began the construction of the very first on-water nuclear power plant in the world.

The Siberian pipeline construction project calls for building an additional segment of the Eastern Siberia to Pacific Ocean (ESPO) pipeline that would cross the Russian border into China from the town of Skovorodino in Amur region.

18 months following Kazakhstan’s signing of a three-party agreement for the construction of a Caspian gas pipeline, the government of the country went through with the ratification of the document. The law effectively embodying the country’s commitment to the project was signed by President of Nursultan Nazarbaev on April 13.

In late May 2009, Sibir Energy company, which is listed on the London Stock Exchange has agreed to accept a takeover bid from Gazprom Neft. According to the terms of the transaction, Sibir Energy is valued at USD 3 billion.

The leading producer of aircrafts in Russia, Irkut Corporation reported that it redeemed credit linked notes (CLNs) worth USD 125 million and made the final coupon payment. The payments were made exactly on schedule. The company’s ability to return payments indicated that the situation within the Russian aviation industry is improving.

Russian scientists are engaged in developing a new generation of soft displays. They developed a multi-layer organic electro luminescence structure that paves the way for making television screens, notebooks, mobile telephones, and other electronic equipment.

The chairman of Norilsk Nickel Mr. Alexander Voloshin indicated that it would be advantageous for the largest nickel-mining company in the world to merge with other Russian steel and metal companies after the economic crisis passes.

RosAtom may build four units of a nuclear power station in Vietnam at a total cost of USD 15 billion. For purposes of securing the contract, Russia’s nuclear agency would need to provide financing for the project, covering part of the expenses with its own money.

Two Sukhoi SuperJet-100 medium-haul airliners have landed at Zhukovsky airport outside of Moscow for subsequent test flights there. Earlier, the planes took off the Far East-based Komsomolsk-on-Amur airport, covering thousands of kilometers to take part in certification test flights in the Moscow region.

Under the renewed anti-crisis program for 2009, the Russian government aims to keep inflation at the rate of 13.3% like it was in 2008. In 2010 and in 2011 inflation growth may slow down by 10 and 11 percent respectively. Russia’s Central Bank is expected to play a crucial role.

Vladimir Putin told the Russian parliament that the agreed-upon customs union of Russia, Belarus, and Kazakhstan can be launched in 2010, which is a year earlier than planned. The union should boost development through unimpeded trade with a common border.

Russia’s Rosneft oil giant will pay more than USD 160 million to be a sponsor of the 2104 Winter Olympics in Sochi. In exchange for discount supplies of fuel and lubricants for the games, the company will enjoy easier access to land in the southern Krasnodar region where it plans to build a network of gasoline and car service stations.

Next year Russia’s “GAZPOM” concern will strengthen its positions on the world stock markets, and its shares will rise in price. This forecast was made by Europe’s largest bank UBS. This year “GAZPROM” bonds, as well as the bonds of the other big companies, have suffered as a result of the global financial crisis.