russia's anti-monopoly watch on to join forces to daily says rosneft will get a controlling stake in i taro and return for access to its gas deposits analysts say within a few years the joint ventures production could match that of the country's second largest gas company nov attack. and now let's take a look at the currency markets as you can see there the greenback is losing value against the euro and to the russian ruble was actually gaining against the major currencies and the euro and the dollar on wednesday we'll bring you all the latest there figures as soon as the russian markets reopen in two hours time and speaking of the russian markets they had a pretty good session on wednesday you seeing those numbers there more than half a percent for both of my sex and the r.t.s. and of course the nina driver there was the much discussed speech by president elect obama in the putin who essentially said the russian economy fully recovered from the crisis of two thousand and eight and she was ninety also said he expected to be one of the world's top economies within the next three years

will get a controlling stake in return for axes to rosneft gas deposits analysts say within a few years the joint ventures production could match bout of the country's second largest gas company nova tax and that's all the latest from the world of business money and i'll be back in about fifteen minutes i'll see about actually we're looking forward for bad and next here on r.g.p. latest kaiser report is coming shortly after a short break and a recap of the headlines and stay with us for that. the east. getting emblem it's coming and if it's a economy mummy mummy mummy am a mum unlimited text. this is true still keeps its secrets but now it's time to move feel up to something that falls in the boxes. on. the economy. just so. it's just some gifts. has the the same it's. coming to a. comic. books. if it was. please please please please please. please .

were earlier in the day than staying with the energy sector or russia's oil major major oil producer rosneft and downs producer i terra have received the green light from russia's anti-monopoly watchdog to join forces will create a gas aventure which is that they really says will be set up as a water ross now will get a controlling stake and i terra in return for access to. draw as nests gas deposits analysts say within a few years the joint ventures production could match that of the country's second largest company nova tap. and one more thing growth in emerging markets is speeding up despite weaker demand for their products in the developed. h.s.b.c.'s index of business conditions in developing nations rose to more than fifty. three points in the first quarter a reading above fifty and to kate's expansion the rebound in manufacturing and growth in the service sector are the main drivers with russia china lagging behind brazil and india. and that's all latest from the business that's right and i'll be back in about fifteen minutes but you can always find a lot more stories on our site r.t.

is reporting that there's a drop of around eighteen percent in the world deliveries and apparently rosneft. held responsible they were supposed to deliver up to one million barrels of oil instead of one point two million that it was supposed to receive the whole country and gazprom now says it will compensate for that loss will see how that story develops. in the currencies market barely any movements in terms of the euro dollar exchange rates whereas the russian ruble lost against the basket of currencies in tuesday's session that we see develops in one half hours when trading begins on the russian markets and the r.t.s. m i six or eight drop of less than one percent in chiefs day session as you can see there very much better than the rest of the world as some european indices for example drop more than three percent also president needs your bed it has said that the privatization program should go as planned to the full scale so basically encouraging all the state companies to go ahead and sell their stakes. russia's largest mobile phone operator mega for may consider an initial public o

very similar in very many ways in fact to the any deal from adelaide italy's any corporation and rosneft is it based and modeled after the exxon mobil rowson have to deal in both of the deals and he rose and exxon mobil will get about thirty three per cent or a third of the rights to the exploration and in both deals the us nafta and of the bargain is that they will be gaining access to exxon mobil and the sites away from the arctic sea now this particular deal. will be working with the us nafta to develop in the barents sea in the arctic area and as well as an abandoned chevron project in the black sea as well now as mentioned. will be gaining a technology access to technology and as well as a third country project in north africa europe and in the united states as well. let's talk a little. about the numbers about two billion dollars has been committed for the research and exploration side of it but it is expected that it will take around one hundred billion dollars to see this a project through and that's so for the any deal for a child who has any and russia deal now the exxon deal t

is that support more muscle behind its plans to develop offshore deposits now we're talking about rosneft of course and it's behind in suit in fact sign in the green went later in the day that's what we're expecting with its release and me now the two companies and sent to work together in the oil fields of the arctic and the black sea and it's not the terms of the agreement will be similar to those with exxon mobil the italian company is expected to get a minority stake that's over thirty percent in the exploration ventures and in return it will bring technical know how and shoulders some of the up front investment costs. right on track with currencies as you can see there the euro is still gaining against the dollar and when it comes to the ruble it's also getting that gets of both major currencies now if we move on and cycle of what's happened in europe markets there are all breeds we can see there that would go both the footsie and the facts on the back with the with the dax in fact i've been over on the percent this hour and investors haven't really been shaken up by the fact that we

in north america and one of my talking about i'm talking about the till between rosneft and mobile that we saw this week is the three billion dollar deal at the moment and the head of american energy giant right to listen explains his last roll in this. in the early days russians have really wants to learn more about these types of resources. on shore about looks that they'll be participating in. in canada is a type of oil play in canada they want to see how we're developing those new technologies we're usually interested in the west texas several it's a no title place they would like to see the approach we're taking to develop those there is a lot of pipe all shale oil potential what siberia. already your update is and all things that business. always a pleasure so you know i still to come here and we'll be following the first steps of a new born nation out of south a seven year. old stuff. the .

and agreed to meet again in may's so these concerns might be easing and speaking of oil prices of rosneft has agreed to sell oil to china at a discount their decision ends a long lasting pricing dispute between the two sides russia is the oil major will sell to its chinese customers at a discount of one and a half dollars a barrel as part of the twenty year export agreement to supply thirty million. tonnes of crude to china. and one more story for you a bit i am half has improved its outlook on russia's economic growth this year it now says the country's economy will grow at four percent while the inflation is expected to be below five percent and of course we'll watch the situation closely to see if these predictions actually come true and that's the latest this hour i'll be back in about fifteen minutes also you will indeed looking forward to it natasha thanks for that ok. a recap of our top stories this coming up for you followed by our exclusive interview with julian assange his t.v. program launches on tuesday right here so we. know that it will. develop for bush for bush but. always

we've been talking about rules in this partnership deal with america's exxon mobil signed yesterday rosneft get technical expertise. chris we've got from troika dialogue there's the type makes sense the arctic has its significant potential to for for a major source of oil and gas in the future russia needs to open up this area in order to acquire secure new sources of oil and gas as existing for a production base going to decline over the next decade similarly for exxon mobil this is the only place on the planet where a company like exxon mobil can also get access to significant new reserves we know to big cost of developing the article is going to be very significant and the exploration phase alone will be several billion dollars and the total cost of eventually bring in oil and gas to the surface is likely to be three maybe even four hundred billion dollars and europe today will have more than fifty minutes here on business so to hear things that don't go in a few minutes just let our viewers know our exclusive interview with the man who exposed the dirty secrets which governments try to

and i'll bow out and stay with the energy sector russia's oil major rosneft and gals producer i terra have received the green light from russia's anti-monopoly watchdog to join forces they'll create a gas venture which should as a daily says will be set up as a water rights national get a controlling stake and tara in return for access to its gas deposits analysts say within a few years the joint ventures production could match that of the country's second largest gal's company a no over tax and let's now move on to the currency markets at the moment the dollar is a lower against the euro and on wednesday the russian ruble was the stronger against the major currencies we'll see how the situation develops when the russian markets reopen in one hour so i'm speaking on behalf of markets on wednesday had a pretty good session let's see those numbers here they are as you can see the r.t.s. and m i six both gain more than half a percent move the optimism came from the speech of president elect and he said the russian economy is doing very well it has fully recovered from the crisis of two t

join forces will create a gal's joint venture which goes it's the leases will be set up as a border rosneft will get a controlling stake in i tariff in return for answers to gas deposits elysee within a few years the joint ventures production of match that of the country's second largest gas company nov attack. and that's all the latest from the business desk this hour will be back in about fifteen minutes but you can always find a lot more stories on our site it's business it's r t dot com slash business affluent and thanks very much indeed for bringing us the latest from the world of business including what's happening in the russian markets now there's plenty more to come here on our team calling the sports and dates and a finalist for the russian cards are in place after two very intense semifinal showdowns moscow and cazan well andrew will bring you all the latest on this and also. bring you the headlines. i am. the. freak shows. the news that sigrid lumbered story to mukherjee was able to build a new its most sophisticated robots which unfortunately doesn't use adorning found anything

resorts is in russia's black sea the cholera sea and then west side bierria and the other joint venture rosneft will get thirty percent in three projects in north america including the gulf of mexico and some on the speculate that this is connected with well and gas shale oil and gas exploration something which is new for russia's growth there richard one quick question how big all the potential resources in the all came from what you know is there a lot of potential oil and gas there to be exploited. yes indeed it is one of the largest untapped areas in the world when it comes to oil and gas reserves when it comes to gas reserves that has basically one third of the untapped resources in the whole world and when it comes to west siberia which is also part of this deal one point seven million tonnes of the oil we're talking about basically. rules and of course. thank you very much in the now that's all we've got time for this so that you join us in fifteen minutes time for more right daniel thanks for that update we'll see you back here next hour serving here in r t a slap in the face book cross

lower opening on wall street and some of the biggest movers on the my six at the moment include the rosneft it's underperforming the company said it's going into the debt market it will it plans to sell around three billion dollars worth of bonds to finance its massive investment program and plans to invest. up to one hundred twenty four billion dollars by the year two thousand and twenty and the truck maker come oz is outperforming as you see there gaining more than three and a half percent and a case of stanley is losing value and that's despite reporting a sixty percent growth in net profit for twenty eleven somehow investors seem disappointed the u.s. markets will open up in a couple of hours using the closing figures right there let's see those figures here they are and as you can see it was a pretty good day on wall street mainly thanks to our poll of the company posted a pretty robust results for the first quarter driving the nasdaq to pose the biggest daily gains so far this year and apple itself did quite well posting a nine percent gains for the day to close at six hundred ten dol

look this is a very important dealer i think both for the for the russian company rosneft and for exxon mobil. it's the arctic's area it's regarded as having significant potential for future hydrocarbon reserves of production and a lot of people believe it's like a major reserve on the planet where we can find significant you volumes of oil and gas so developing this region this place is very important for russia and it all. there's a significant long term opportunity for both companies involved. right until recently offered tax breaks to companies investing in the arctic how touchy that was the offer goes and not. well i think it's still you know broken progress to be honest i mean this is you know obviously about a brand new area we know it's going to have considerable technical difficulties engineering difficulties involved which is why russia brought in a company as experienced as exxon mobil into the deal specifically to bring in their expertise and their know how so i think you start off with this project which you know best guesstimate of what it may cost what will be involved bu

look for that i would call more stories for you want to ross that right here russia's top oil firm rosneft is reportedly insured with its own is to join in the black sea and we're also looking for foreign expertise to attack new hot access to polls as it comes after the firm agreed to explore the arctic with a ny and america's exxon mobil. and other stories for you russia's president has pledged a not so burdened business with new taxes in a speech today he added all state stakes in companies will be reviewed and dropped if found necessary to meet also promise to minimize good work saying it just gathers dust at the tax office. ok that's markets now the next hour have the figures for the u.s. markets all right katie looking forward to see you then shortly here in our to the second edition of whistleblower julian assange just hard hitting interview series that's after the headlines in just a moment. but there are killing innocents here a was a place of course and that's never and said. mom a song from the skull spoke with me i think of it every day. i feel the flies fired from the memories.

now let's join katie at our business desk katie you were telling us all about rosneft yesterday and now it's all about luke oil what's happening absolutely luke will they intend to spend big they're going to be investing billions into iraq i'm going to talk about that a bit later on can i want to head into the markets and see what's happening with the european bourses right now and they've taken a turn for the was well that's the figures have just come out about the jobless claims data in the u.s. it was higher than expected and that's really affecting the markets we have the flat last hour now investors all in the u.s. markets will be opening up in less than ten minutes time. dax that took a hit today and that's because of a bank that was down over two percent and that really drags the force down in that region today if we get on to the dollar it was more sentiments coming out of the region today we have the european commission saying that the sentiment indicator for the seventy nation euro area fell to the lowest level since december so investors are already on edge as you can see one

years it's also thought to hold thirty percent of the world's gas reserves russian state oil giant rosneft has brought into wealthy partners to help the agreements with foreign firms exxon mobil and any cover a range of projects in a number of countries will now have interests in the u.s. europe and africa serving its plans for international expansion but the real jewel in the crown is russia's far north initially expenses there will be limited to exploration three point two billion dollars with the american company exxon and one billion with the italian company any but if resources are found which seems certain the figures will rapidly grow total investment on the x. on projects in the arctic is projected to reach three hundred or even five hundred billion dollars while on the any side of things around seventy billion dollars to cost reflects the hostile working environment it's thought the bulk of the energy is on russia's continental shelf in water five hundred meters deep which is often covered in pack ice and scattered with massive icebergs up to four million tons this is where the fo

barge that then again it had to leave the a bride at the old stuff when it comes to the deal between rosneft and b.p. its previous partner because of legal legal boundaries and so it's a legal conditions when they came to understand that basically is agreement with b.p. was contradicting already existing agreements with t n a b and third the third factor involved is opposed the amount of money and investment which is required in these a very difficult project yes sounds complicated indeed miter how much money are we talking about. well initially this investment is valued at around three point two billion dollars now both companies admit that this could go up ten fold to tens of billions of dollars of investment but in the end of course russia needed to provide some kind of attractive in boy i meant in order to attract companies to go out with ross snap and they did so last week we just heard about an easing a tax regime for companies involved in extraction we're talking about an exemption all the export tax we're talking about a reduction of the mineral extraction tax and therefore exon whic