Energy Blast – April 11, 2008

Gazprom is poised to become the world’s second-most profitable company, generating a net income of $41.5 billion, topped only by global leader ExxonMobil. A presidential spokesman for the Ukraine announced that monopoly natural gas operator RosUkrEnergo will continue to supply Russian gas to Ukraine despite Kiev’s pledges to axe intermediaries in the gas supply scheme. The main shareholder of Yukos, holding company GML, has filed the largest arbitration claim in Russian history against the Kremlin for the seizure and forced auction of Yukos assets under the Energy Charter Treaty, a claim which could come in between $50 and $100 billion, says GML director Tim Osborne. The Moscow Times reports that the state siege on TNK-BP, which has included espionage arrests, new environmental audits, and denied visas for 148 employees as part of an effort to seize control of the Kovykta field, may be an “inside job.” “We never had any problems with them, any complaints,” Konstantin Poltoranin of the federal migration service said, commenting on the visa issues. “Go to the company if you have questions. They have their own problems within the company.”