Energy Blast – Dec 3, 2009

Dmitry Medvedev is in Rome to oversee the signing of an agreement between Gazprom, Eni, and EdF for the South Stream natural gas pipeline, set to open at the end of 2015.  Transneft says that a hundred-ton oil spill ‘will not affect oil consumers‘.  Oil prices fall, and the ruble follows.  The Russian art market, too, benefits hugely from those petrodollars, says The Guardian.  The proposed Burgas-Alexandroupolis oil pipeline between Russia and Bulgaria could pose ‘problems‘ due to the latter’s environmental and financial concerns about the project.  Russia’s oil output is continuing to hit records, pumping more crude than Saudia Arabia. New York state landowners are wrangling with oil companies for as much cash as possible for their natural-gas-rich properties.