"It's clear that Russia, as one of the largest exporters and producers of crude and oil products, cannot sit on the sidelines of the process of global price-formulating for commodities. We have to develop a full set of measures which will enable us to actively influence the market."
Russia should assume a greater role in influencing global oil prices and to provide additional tax relief to oil companies amid ongoing financial crisis as the country faces a decline in oil output in 2008 for the first time in the last ten years, Prime Minister Vladimir Putin said at a governmental meeting focused on oil industry issues, the government press office said late Monday.
"Based on faulty intelligence gathering as usual, the military Joint Task Force has accused Boyloaf, a senior MEND commander in Bayelsa state, of being behind the abduction of two crewmen from the Borifish Hercules Vessel belonging to Offshore Nigeria Ltd."
Nigeria's main oil rebel group, MEND, Tuesday threatened to wage another "oil war", tagged Hurricane Obama, if Nigerian military carry out a planned raid on the group's camps in search of its leader, MEND said in an statement emailed to Platts.
Updated: November 11, 2008
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