Energy Blast – Jan 9th, 2008

Vladimir Putin’s insistence that Ukraine pay market prices for gas may sound reasonable, but it means an increase of at least 22% in Kiev’s gas bill for the year.  Bulgaria, the country worst-affected by the gas cuts, has been forced to order rationing for utilities, schools and hospitals, and has turned off supplies to 72 factories.  Geoplin, Slovenia’s main gas supplier, says it may have to reduce or cut gas supplies to its industrial customers due to a lack of Russian gas.  Petrobras is to make a record payment to the bond market to finance its investment plan in the face of crude prices much lower than last year’s record highs.