CDU TEK (State Enterprise “Central Dispatching Department of Fuel Energy Complex”) has investigated a situation at the oil extraction market. Eight largest oil companies took part in the research. Researchers tried to find out, how daily oil extraction in each company had changed within January-June, 2008 period as compared to the analogical period last year.

This year in Russia appears a state company that should become the largest Russian grain exporter as plans the Ministry of Agriculture. As it became known, the government approved the establishment idea of such grain trader on the state-owned Agency for Commodity Market Regulation JSC basis (APR JSC). As per authorities plan, by 2011 to this joint-stock company stake falls 40-50% from total volume of grain export from Russia that this year is estimated at $4,5-5,5 billion.

Russia’s Ministry of Public Health and Social Development (MHSD) plans to introduce amendments to Labor code to cut staff shortage and increase labor productivity – “unnecessary” social guarantees can be taken off, and it is not eliminated that the tariff system of social insurance will be changed as well. So, it is planned to minimize the shortage of high skilled staff the country faces, as by 2020 it can grow to 20 million people

One expects rich grain crops in Russia this year. Beginning from July, 1 all export duties that have been acting since November 12, 2007 on wheat, meslin and barley are abolished, as reported the National Mercantile Exchange (NAMEX) referring to the corresponding letter of department for agro-food market regulation of the Ministry of Agriculture.

Russia’s independent analytical organization in arms’ export area – Center for Analysis of Strategies and Technologies (CAST) – has published the annual rating of the largest companies by defense production volumes in 2007. The rating shows situation improvement in air industry and collapse in shipbuilding. Moreover, the range of large enterprises did not present their official data, and that, in CAST opinion, says about their dire financial condition.

Representative of Iran’s Ministry of Information and Communications Technology Said Makhdioun declared three largest Russia’s mobile companies – MTS, VimpelCom and MegaFon – are interested in receiving Iran’s nationwide license. Analysts name MegaFon as the most prospective odds-on favorite in a tender that will be held in early July

The international rating agency Moody’s Investors Service had placed the rating of the government obligations of the Russian Federation (RF) (at Baa2 level) under review for the possible upgrade as reported in the agency press-release.

Russia is ready to write off Libya’s $4,5 billion debt for the set of large contracts. JSC Russian Railways’ contract for railway construction in Libya will provide the three fourths of the sum – almost $3,5 billion. Moreover, the set of agreements for military equipment supplies is planned also. It is hard to estimate the memorandums signed by Gazprom in money terms yet, but Libya has already confirmed it supports Russia’s energy policy, the initiative to establish the gas OPEC (Organization of Petroleum Exporting Countries) in particular

Federal State Statistics Service (Rosstat) data about the industry state in January-March confirms the recovery of industrial production growth in Russia. It totaled 6,2% in annual terms in 1Q of 2008. The Russian industry grows due to the processing sectors, while oil production has been reducing in Russia. Some economists are convinced that stagnation in the oil industry is predetermined by tax and political pressure on oilmen, and the industry should be already supported by tax deductions and stimuli to deposits exploration.

Previous year the transactions volume of mergers and acquisitions (M&A) in the metallurgy has upped by 67% – to $144,7 billion, though their total amount has upped by 6,7% only. They have moved form the ferrous metallurgy to the non-ferrous one together with transactions consolidation. Industry analysts consider that 2007 was the peak year and according to its results one should not expect the serious growth of M&A volume in the metallurgy. Thus, the core intrigue takes place in Russia, around the possible amalgamation of OJSC MMC Norilsk Nickel with Metalloinvest or United Company Rusal.