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Energy Blast – Dec 2nd, 2008

Prime Minister Vladimir Putin has signed a funding document on the design and construction of the Baltic Pipeline System.  Russia’s oil exports have reached their lowest level this year, and oil has hit a 3-year-low, dropping below $50 with analysts fearing further declines.  TNK-BP’s Moscow office is reportedly pushing to cut 390 managers’ jobs.  The European Commission has extended its competition review of plans by France’s EDF to buy nuclear operator British Energy.