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Energy Blast – Feb 1, 2012

Gazprom is limiting exports to Europe – with Italy losing out on 8% of yesterday’s requested volume – thanks to a current cold spell that is increasing domestic demand.  But the company says that it is adhering to its long-term contracts with European clients.  India’s ONGC has revealed a planned $33 billion capital spend for the next five years.  A New Orleans court has rejected attempts by BP and Halliburton to offload liability for the Deepwater oil spill onto each other, leaving them both open to multibillion dollar damages.  Nabucco’s backers are looking for ways to scale back the venture: ‘Some critics wonder if they will ever have enough gas to fill the pipeline.