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U.S. markets recover from steep losses
ST. PETERSBURG, Russia, July 5 (UPI) -- Russia may stop using ports in the Baltic states by 2015 to export oil and instead use a new $3.3 billion pipeline, a government official said.
Currently, Russia exports roughly 80 percent of its oil products through ports in the Baltic states, RIA Novosti reported Saturday.
"By 2015 we will have sufficient energy supplies transit capacity at our domestic ports," Russian Transportation Minister Igor Levitin said at a government meeting in St. Petersburg.
Russia is building a sea merchant port at Ust-Luga in the Gulf of Finland outside St. Petersburg for the transit of oil and gas from both Russia's oil-rich regions and Kazakhstan to Europe via the Baltic Pipeline System-2 project, the news service reported.
By 2015, the Ust-Luga port is expected to reach an annual transit capacity of up to 130 million tons of oil and oil derivatives.
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HOUSTON, May 24 (UPI) --
The natural gas industry is to blame for concerns of hydraulic fracturing because of misconceptions of the dangers, an executive said from Houston.
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NEW DELHI, May 24 (UPI) --
India's state-run National Aerospace Laboratory will work with Kadet Defense Systems to develop NAL's Hansa trainer aircraft into an unmanned airial vehicle.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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What if Europe turned out to be the new Japan?
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