Rosneft-World Bank Deal

Rosneft gained approval for a gas utilization project with the World Bank at the Komsomolskoye field, under the Joint Implementation mechanism of the Kyoto Protocol.

Rosneft plans to spend 7 billion rubles ($230 million) on the project and may sell 4 million metric tons of credits to a World Bank carbon fund by 2012 under an agreement they signed in 2008, the company said.

(Bloomberg)

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