The Russian Fuel Union has warned that many regions are running short of gasoline and in some cases could face complete droughts, as oil companies seek to cash in on high fuel prices abroad. Oil fields owned by TNK-BP and Surgutneftegaz will have to pay full export duty as of next month after the government, responding to higher-than-anticipated returns, gets rid of their tax breaks – and on top of this, export duty will rise 7% due to the supply shortages. ‘The move may raise risks for new projects and […] set back […] Russia’s output goals,‘ and has already caused a drop for Surgutneftegaz stock. Gazprom’s OGK-2 and OGK-6 power utilities are planning to merge and create Russia’s third-largest generator, producing 8% of the country’s electricity – terms of the merger have been announced. A compromise on TNK-BP is unlikely to be reached if its Russian shareholders are looking for a buyout price of $35 billion, says the Guardian, suggesting that BP could barely stretch even to a $30 billion price tag. The company has announced declining profits. Former Ukraine PM Yulia Tymoshenko, together with 10 anonymous partners, is suing RosUkrEnergo (part-owned by Gazprom) in the US federal court for ‘defrauding Ukraine’s citizenry‘. Vladimir Putin anticipates that Russian gas deliveries to Denmark could increase when the necessary pipeline becomes operational. As the supply situation currently stands, the Nord Stream pipeline, supposedly to be completed in mid-May, will be responsible for deliveries of around 2 billion cubic meters a year, Putin said. China will provide Turkmenistan’s state energy company with $4.1 billion worth of credit to help it boost export potential and develop its South Yolotan field.