Energy Blast – March 10, 2010

The Federal Anti-Monopoly Service wants to ban oil companies from buying and building gas stations in regions where they have at least 35% of the market, to restore the balance for independent gas station owners who are slowly losing their retail market lead.  Venezuela has approved a joint development project with Russia on Junin 6, a major oilfield in the Orinoco oil belt.  The Nord Stream pipeline project has unearthed a series of centuries-old shipwrecks in the Baltic Sea.  Yulia Latynina compares US and Russian gas extraction figures, and concludes that Russia’s best move would be to abandon attempts to ‘gain control of Europe with the help of gas pipelines‘, and develop its own chemical industry instead.  ITAR-TASS comments on progress made during recent meetings between Rosatom and France’s EDF on a possible joint venture.  Construction starts tomorrow on Transneft’s $1.34 billion Purpe-Samotlor pipeline link, which will help secure crude supplies from Russia to China. International Power explains the reasons for the fall-through of its deal with GDF Suez.  Chevron will cut another 2,000 jobs this year in Europe, the Caribbean, and Central America.