Energy Blast – Dec 3, 2010

Bashneft’s winning bid for the Trebs and Titov oil fields (it was the only bidder), which could boost its reserves by 70%, was $587 million higher than the starting price, says Bloomberg.  Is Russia’s carbon trading market finally getting off the ground?  This article suggests that 15 projects across Russia could raise $300 million worth of carbon credits.  No surprises that Vnesheconombank has no intention of selling its 2.7% Gazprom stake: ‘We have acquired this stake to manage our surplus liquidity as a strategic investment.‘  Reuters outlines the ideal greenhouse gas cuts for the world’s biggest emitters that the UN is seeking promises on, as outlined at the Cancun gathering (which the FT outlines here).  Another WikiLeaks document alleges that Italian Prime Minister Silvio Berlusconi is personally profiting from energy deals with Russia.  Chevron is selling an 18% stake in its Indonesian gasfield to Sinopec.