Energy Blast – Nov 22, 2011

Russian Energy Minister Sergey Shmatko is investigating the possibilities of legally disputing the European Union’s third energy package, which bans the producers of electric power, gas or oil from owning transportation networks.  Russia will lend $9 billion to Vietnam to fund the construction of its first nuclear power plant; TNK-BP’s Vietnamese subsidiary plans to invest $400 million in the country’s well.  The Brazilian government has fined Chevron $28 million after it took full responsibility for an offshore oil spill.  A Serbia-Russia underground gas storage facility has been opened as part of the South Stream pipeline project.  A 5% drop in production is following hot on the heels of South Sudan’s declaration of independence earlier this year.