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Energy Blast – Sept 28, 2011

European Commission officials have apparently initiated raids of the offices of gas companies in ten European states.  Gazprom has reportedly been a primary target.   An official from the export giant downplayed the effects of the raid, arguing that it might take ‘years’ for the EU’s competition authority to analyze the results of its findings.   Ukraine reportedly plans to complete the revision of its gas contract with Russia next month; Gazprom has reassured European customers there is no need to fear a disruption to supplies.   Russia will reduce its export duty on most crude shipments by 7.4% on October 1 after Prime Minister Vladimir Putin approved a tax measure to increase production and oil prices dropped.  BP has frozen its $10-million co-investment oil research project for the Skolkovo Fund as a result of the conflict with its partners in TNK-BP.  The British major is, this report says, considering a fourfold expansion of the $5 billion Tangguh liquefied natural-gas plant in Indonesia as Japan increases imports following its nuclear disaster.  Investigators in Moldova suspect that a crime syndicate has attempted to sell weapons-grade uranium to buyers in North Africa.