Russian investigators are seeking 190billion rubles ($4.75billion) from arrested businessman Vladimir Evtushenkov’s AFK Sistema and an affiliated unit for “illegal” gains relating to oil producer OAO Bashneft.
A major contract has been awarded to Philippines fabricator Atlantic Gulf and Pacific Company (AG&P) to build process modules for one of the world's largest LNG projects in Russia.
The company will carry out work on the Yamal liquefied natural gas(LNG) project and is based in the estuary of the Ob River which is ice-bound nine months of the year.
Russian oil output rose to near a post-Soviet record last month, a sign the biggest source of revenue for President Vladimir Putin’s government has yet to be eroded by US and European sanctions.
Tensions over claims to the Arctic Circle's energy resources have risen after Russia sent a naval convoy to reopen a military base in support of Vladimir Putin's claims to the area.
