When they make that adjustment, it should lead to one-off demand of around $8 billion from [large mutual] funds. That's one of the drivers of the share price.

A safe number is probably double that (72 billion barrel) figure. But it's not impossible it's three times as high.

Speculation that some mutual funds here would pour 150 billion yen into equities also encouraged some speculators to buy shares in a thin trading session.

We are about to move into a new phase when Russian state-controlled energy companies are opened for investment with cooperative foreign firms. It makes sense to have someone with international experience ? either corporate or political ? leading that process at the head of those companies.

I just don't like mutual funds. I think they're a rip-off.

When you've got such a large honey pot, it's unlikely that some of these funds aren't going to be put away for a rainy day. I wouldn't bet the rent money that there aren't going to be any offshore bank accounts.