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The government of India has invited Russia to explore the hydrocarbon resources of India since the Indian oil consumers are less dependent on import of oil and natural gas and focusing to attract more investments in energy sector. Indian government asserted, to increase the involvement of the Indian energy investors, for uplifting the oil and gas reserves of Russia. In Moscow, the recently held ninth round of New Exploration and Licensing Policy conference urged Russia to participate in the exploration of the 34 hydrocarbon blocks and to take part in the auction which will close in March 2011. Gazprom, hefty extractor of natural gas and largest oil and natural gas extracting company in Russia received an invitation to collaborate in a couple of upstream oil and natural gas projects from the Oil India limited. The head of the Gazprom India Alexander Nikiforov asserted, the company was assessing the offer and the Oil and Natural Gas Corporation of India is discussing with Bashneft, leading refining company in Russia. Ministry of Oil and natural gas declared that, the Bashneft will aid the development of oilfields of Titov and Trebs and also foster the oil organizations.

Ithaca Energy Inc. independent subsidiary of Ithaca Energy Limited of United Kingdom has announced to kick off the second oil and gas exploration project in the Jacky field. Ithaca Energy is an autonomous oil and natural gas exploring company and concentrating on the development of assets in the North Sea of the Great Britain. The new drilling venture adopted by the Ithaca Energy will commence in the first quarter of 2011 and the well is expected to yield more than 5000 barrels of oil each day. History of the surface area and elaborate subsurface work has been discovered and the management conceives that, this area could have enormous amount of oil resources. The Jacky field has yielded one strong oil well since April 2009 and this oil well has surpassed the predicated value.

The poor functioning of several sectors concentrating to retard the rate of climate change is urging the managers to furnish investments in energy for implementation of green energy. In the recent years the stock of renewable energy such as the solar and wind energy has tumbled stunningly, contradicting to the desires that were poised to erupt. The Money managers and the energy veterans articulated that, the poor performance of the energy investment industry is due to the lack of credibility for policies which aimed to develop the industries. Wealth managers are seeking for other sectors of the market that is a part of the climate change story such as energy efficiency and reprocessing.

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