fbpx

Energy Blast – Aug 22, 2008

Gazprom’s plan to boost investment spending by 25% this year “shocked” analysts due to its indication that the company has “unacceptable” free cash flow. Finance Minister Alexei Kudrin says that long-term falling oil export prices might mean that Russia will begin to spend the Reserve Fund, its “financial cushion“, in 2015. The UK’s Energy Minister is attempting to help Nigeria overcome problems in its energy sector. “Russia has demonstrated its willingness to use oil and gas for political purposes on several occasions.” Oil is seeing its biggest weekly gain in two months.