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Energy Blast – March 16, 2012

Lukoil’s chief executive officer is anticipating that the company will quadruple its market value over the next decade.  InterRao has offered to buy out the minority shareholders of OGK-1 and OGK-3, boosting the share price of both.  Separately, the company will sell its own minority stake in Italy’s Enel OGK-5 – the deal is thought to be worth $750 million.  The Russian Economy Ministry may increase fuel export duty from 66% to 90% of the fee on crude, as critics said the tax would ‘wipe out refiners’ margins’. France’s turbine-maker Alstom, which already has a joint venture with nuclear equipment maker Rosatom, is predicting that the market for power equipment in Russia could reach $17 billion annually.  Gazprom Neft’s Serbian oil company, Naftna (or NIS) plans to expand its investments in the Balkans by 45% this year, allocating $587 million to Serbia alone.  A Russian lawmaker is seeking an investigation into Bashneft’s win of the state’s auction of the Trebs and Titov oil fields, claiming that the company gained the licenses illegally.  Bulgaria’s Prime Minister is considering pulling out of a deal with Russia’s Atomstroyexport to build a nuclear plant on the Danube, saying that he wants ownership to be diversified, rather than limited to Russia and Bulgaria.  Poland could start producing shale gas for commercial use from 2014.