Russia will begin to create gosrezerv oil in March.

The project of creation of Russian oil reserves, which could help stabilize the price of oil and oil products in the domestic market is expected to come to the government in March 2009. This writes the newspaper Kommersant.
The publication said that the idea of a gosrezerva oil advanced Vice-Premier Igor Sechin Russia in June 2008. Then he instructed the Ministry of Economic Development, Ministry Rosrezervu and resolve the issue of supply of petroleum and petroleum products for the needs of the state.
After meeting at the Ministry of February 3, on the preparation of proposals for the formation of oil gosrezerva, the Ministry noted that the ability to create it in there. According to the head Rosrezerva Alexander Grigoriev controlled by his department will be able to influence market prices, provided that the reserve will be not less than five million tons of oil. But still not resolved the question of how to store significant amounts of such oil: while the tank farm in the country does not exist.
Remember, back in 2002, the Ministry is exploring the establishment of the Russian state strategic reserve of oil. At that time also was not resolved the question of where and in which tanks to store oil, and how to work a legal mechanism for establishing gosrezerva.
Oil prices on world markets reached a record 147 dollars a barrel in July 2008. But then because of the global economic crisis, the cost of oil has plummeted, and by December last year reached a five-year minimum of 33 dollars per barrel. Since September 2008 the Organization of the countries - exporters of petroleum (OPEC) on several occasions declared the reduction of oil production. In late January 2009, OPEC announced further reduction in the quota of oil production if prices continue to fall on it.