Putin ordered the allocation of 1.2 bln rubles to subsidize household purchases of gas appliances.

On Oct. 21 the National Energy Administration (NEA) convened a medium-to-long-term work meeting on increasing oil and gas reserves and production. The NEA said state oil and gas firms must shoulder core responsibility for national energy security and, over an extended period, materially increase production capacity. It ordered implementation of a ten-year oil and gas exploration and development action plan, focusing on key oil-and-gas basins and accelerating the creation of several national strategic oil and gas bases. Companies were directed to scale up investment and operational activity, intensify technological R&D, strengthen company–local coordination and deepen corporate reform to raise reserves and output in deepwater, deep onshore, unconventional and mature fields, aiming for stable-to-rising crude output and rapid natural gas growth. The NEA oil and gas department outlined primary targets and tasks for the next decade; CNPC, Sinopec and CNOOC presented their next-stage plans.

Philadelphia Semiconductor Index rose 0.5% after plunging 6.7% in the prior session.