Energy Blast – April 5, 2010

One result of Vladimir Putin’s visit to Venezuela was an ageement that Russian oil companies will be permitted to help explore the $30 billion Junin-6 oil field project in exchange for giving Venezuela a $1 billion ‘entry ticket, $600 million of which will be transferred straight away, and further cash bonuses could be offered in exchange for shares in further oil fields.  Russia’s crude oil production in March reached a post-Soviet record as TNK-BP and Bashneft squeezed existing supplies. Banks organizing a planned share sale have valued Kuzbass Fuel Company, Russia’s steam coal miner, at $1-$1.4 billion.  On the various obstacles facing Khan Resources, a Canadian mining company, over its operations in Mongolia.