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.
Completely unnoticed in the Western media, a Russian transport initiative holds promise to revolutionize the maritime carriage of products throughout Eurasia, including the oil and natural gas so hungrily sought by European consumers.
WASHINGTON, Feb. 28 (UPI) -- The good news for Russia is that energy prices are at a world record, and that Russia is now tied neck and neck with Saudi Arabia as the world's leading oil producer, producing around 9 million barrels per day to a world consuming about 84 million bpd. Russia is the largest non-OPEC oil producer and now generates 12 percent of global production.