German-Russian Oil Cooperation

BERLIN/MOSCOW (Own report) – The Russian petroleum company, Rosneft, is expanding its activities in Germany, thereby reducing Germany’s dependence on the transatlantic oil industry. While public discussion is focused on ex-Chancellor Gerhard Schröder’s candidacy for the chair of Rosneft’s board of directors, the company has increased its share to 25 percent of Germany’s crude oil imports, and has become the third largest oil processing enterprise in Germany. It has plans to further strengthen its position in the country, inspired by the close German-Russian natural gas cooperation, which provides Germany significant influence over Western Europe’s supply of Russian gas. Achieving predominant influence over the EU’s supply and a growing independence vis-à-vis the energy giants of the transatlantic era, facilitates Berlin’s pursuit of an independent German-EU global policy.

Russia and China strengthen oil and gas deals

Chinese and Russian oil companies signed several deals during the recent Asia Pacific Economic Cooperation annual meeting in Beijing, indicating that the two countries have entered a honeymoon period in the area of energy cooperation, Guangzhou’s 21st Century Business Herald reports.

China National Petroleum Corp (CNPC) signed framework deals with Russian oil company Rosneft and gas supplier Gazprom Nov. 9 for buying a stake in an oilfield in Russia and in gas supplies.

The deals came as Moscow saw a further drop in oil prices and in its currency, the rouble, since July, which has hurt the Russian economy, the newspaper noted.