.RusHydro board to approve Sayano HPP restoration finance scheme.

MOSCOW, September 9 (Itar-Tass) - The board of directors of RusHydro
on Wednesday intends to approve the scheme of financing of restoration
operations at the Sayano-Shushenskaya hydropower plant and, in particular,
to make a decision on additional issue of the company stocks in favour of
stockholders.

Russian Deputy Energy Minister and head of the response headquarters
for the Sayano-Shushenskaya HPP restoration Stanislav Svetlitsky on
September 4 said that the Energy Ministry was preparing a draft resolution
of the RF government on the allocation of 9.6 billion roubles from the
budget in 2010 for the restoration of the HPP in Khakassia. A request for
4.6 billion roubles needed for the acceleration of the construction of the
spillway structure has already been sent to the Finance Ministry, in
accordance with the instruction of Prime Minister Vladimir Putin.
According to various data, the volume of additional stock issue that
RusHydro intends to carry out for the financing of the restoration efforts
at the hydroelectric station will reach about 16 billion roubles, out of
which 40 percent will be provided by minority stockholders and 9.6 billion
roubles (60 percent) - by the state. The share of the state in the company
capital is about 61.93 percent and the minority stockholders have 38.07
percent.
"The main contracts on the restoration works and acceleration of the
spillway construction have been concluded, the system of financing, system
of work acceptance and accountability system have been worked out. This
system that was worked out by RusHydro and coordinated with the Energy
Ministry will be fully approved on September 9 at the company's board of
directors meeting that will be held in Moscow," Svetlitsky said.
-0-


.RF-Venezuela Business Council to meet on 1st day of Chavez visit.

CARACAS, September 9 (Itar-Tass) - The third meeting of the
Russia-Venezuela Business Council will be held on the first day of the
visit of Venezuelan President Hugo Chavez to Moscow on Wednesday,
President of the Venezuelan Federation of Industrialists Miguel Perez Abad
told Itar-Tass. Chavez and high-ranking Russian government officials are
expected to take part in the forum.
"We hope that the meeting of Russian and Venezuelan businessmen will
be an addition to the talks on economic issues between Hugo Chavez and
Russian President Dmitry Medvedev and Prime Minister Vladimir Putin,"
Perez Abad noted. He stated that the "support by the political leadership
of the two countries of the business community stresses the importance of
the business community for the expansion of mutually advantageous
trade-economic relations and implementation of joint projects."
-0-


.OPEC Conference in Vienna to discuss oil production quotas.

VIENNA, September 9 (Itar-Tass) - The ministers of oil and energy of
12 member states of the Organisation of the Petroleum Exporting Countries
(OPEC) will gather in the Austrian capital on Wednesday to discuss the
situation on the world oil market and the issue of the expediency of the
existing oil production quotas.
In connection with the fact that the session is held during the holy
for Muslims month of Ramadan and Muslim fasting, the OPEC leadership
decided to hold the session "without witnesses," that is not to invite as
observers representatives of the states that are not members of the
organisation. For the same reason the conference opening will be held late
on Wednesday and the consultations will be held behind closed doors during
the night.
It is not for the first time that OPEC member states are "obscure" on
the possible results of the meeting, however, for the absolute majority of
observers and commentators who have arrived in Vienna to give coverage of
the OPEC Conference session the situation is very clear: under the present
circumstances the "oil cartel" participants will hardly cut oil production
quotas for the sake of raising prices.