Russia will help Cambodia work towards building a nuclear power plant, Reuters quoted Sergey Kirienko, the head of state nuclear firm Rosatom, as saying. The move is part of an agreement the two countries signed this week, he said. Cambodia depends heavily on imported fuel and power, and the country’s government is “mulling constructing a nuclear power station in the future,” according to Kirienko. Cambodian energy officials haven’t commented on the details of the deal.
About thirty Turkish investment projects currently underway in Crimea have been frozen by the republic’s authorities. “After the insidious act by Turkey with the Russian fighter [downed by the Turkish Air Force over Syria], it is premature to speak about any likely development. We have made the decision to halt around 30 Turkish investment projects,” said Ruslan Balbek, the deputy head of the Crimea government.
The number of rigs exploring for oil and natural gas in the US this week declined by 13 to 744, according to oilfield services company Baker Hughes Inc. It said that 555 rigs were seeking oil and 189 explored for natural gas. Texas lost six rigs, while Alaska, California, Colorado, Louisiana, North Dakota, Pennsylvania and Wyoming each lost one, AP said. New Mexico gained two rigs and Oklahoma gained one. The US rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999. A year ago, with oil prices almost double the prices now, 1,917 rigs were active.
Russia’s food and drug watchdog has stopped six shipments (approximately 162 tons) of chicken arriving from Turkey to the port of Baltiysk in Kaliningrad. According to Rosselkhoznadzor, the shipment was seized for safety regulation violations. A statement says the details on the veterinary certificates did not match those on the container tags. The shipments remain in holding, pending the results of an investigation. Russian authorities are awaiting word from the Turkish state veterinary body. An embargo on white meat imports from Turkey is due to start on December 1.
Oil prices fell one percent while European stocks gained as investors' concerns over the consequences of Turkey shooting down a Russian jet eased. At 2:30pm GMT Germany's DAX was up 1.87 percent, while London's FTSE 100 rose 0.3 percent. No military reaction from Russia is seen as good news among traders. Though Russia is expected to cancel a number of joint business projects with Ankara and send an advanced air defense system to reinforce its air base in Syria. Crude oil is trading 1.5 percent lower on Wednesday after prices spiked the day before.
Ukraine’s Prime Minister Arseny Yatsenyuk says Kiev has been offered better gas prices from Europe providers than from Russia’s Gazprom. Earlier on Wednesday, Gazprom CEO Aleksey Miller said Ukraine had pumped all the gas it had bought, adding that no new deliveries would be made until Kiev pays.
Russia’s largest oil producer Rosneft reported net profit at about 303 billion rubles ($4.5 billion) in the first nine months of the year. The company’s income grew 16.1 percent compared to the same period last year. Total revenue fell 7.8 percent in the same period to 3.8 trillion rubles ($60 billion). Rosneft reports an increase in the volumes of crude oil, oil products and natural gas sold, as well as improved output of light oil products by 55.3 percent. The company says it reduced the negative impact of declining oil prices by 12.9 percent.