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Energy Blast – April 5, 2012

Chevron and Transocean are facing charges of $22 billion in Brazil thanks to further civil lawsuits over a second leak off the coast of Rio de Janeiro.  The Russian Energy Ministry is proposing a new tax policy that it hopes will draw investors to the Arctic.  Russia is to cut oil deliveries to the Czech Republic from 400,000 to 80,000 tons this month in order to divert supplies to its own ports.  Chechnya is seeking to work with Azerbaijan to tap its oil deposits.  Gazprom promises that it will raise gas production next winter by 2%, an attempt to calm European fears about fuel shortages.  TNK-BP says it saved $109 million in 2001 as a result of its energy savings program.  The company is planning a $16 million investment for the development of its Tyumen Petroleum Research Center.