Russia Now World's Top Oil Producer. Europe Ponders Winter Gas Supplies.

GUARDIAN.UK/
Russia produced almost 10 million barrels of oil a day in August -a post-Soviet record. Oil Analyst Andrew Neff said "Not only is it(Russia)the world's largest gas exporter but now the world's biggest oil exporter as well. The question is will Russia want to exploit its feeling of superiority and demand a seat not just at the table, but at the head of the table."

Russians Propose Joint Oil Venture With Venezuela In Orinoco.

BLOOMBERG.

A group of Russian oil companies proposes joining Petroleos de Venezuela in a 40-year joint venture to spend $30 billion in Venezuela’s Orinoco region.