More evidence of a financial crisis: Norilsk Nickel may sell its only American asset, a 55.4 percent in Stillwater Mining Company it bought for $257 million in 2003. "In a crisis situation, cash is king," said chief financial officer Oleg Lobanov. China, meanwhile, wants access to the Russian gas market. Litasco, the trading arm of LUKOIL, forecasts a grim 2009. And ExxonMobil Corp. announced today that it would increase gas supply to Russia's Far East in 2012, bowing to pressure from Gazprom. The advance of the Russia-led gas cartel, denied by various naysayers for years, is reported on here, here, and here.
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