Energy Blast – August 26, 2009

Reconstructing an oil deposit consumed by fire in the north Siberia’s Khanty-Mansi Autonomous Area will cost $48 million.  Despite the huge blaze, pipeline operator Transneft says that regional oil supplies are secure.  The conflagration was blamed on a lightning strike.  Further details on the Russia-Mongolia uranium deal, which apparently settled a $150 million debt owed to Moscow, are to be on Reuters.  The Dornad deposit at the center of the deal supposedly holds seven times as much uranium as Russia mined last year.  Taftnet has struck oil in Libya’s Ghadames Basin.  RusHydro is hoping to raise electricity rates over what is permitted by the government in order to rebuild its Siberian power plant.  TNK-BP is hoping to recover $204 million from the Federal Customs Service for overpaid customs duties.  Pipeline maker Transneft may sell $1.12 billion of bonds to be issued in September.  Gazprom will invest €4.4 billion on the Yamal peninsula in 2010, €3.3 billion of which will be used on the development of the gas fields.  The head of Transneft has said that Russia’s oil output this year will not be less than that of 2008.