Energy Blast – Feb 1, 2010

A consortium grouping Lukoil and Norway’s Statoil have signed a final, 20-year deal to develop Iraq’s massive West Qurna oil field.  TNK-BP shareholders have ‘no plans to reduce their holdings in the company, and the company’s financial position is quite stable,‘ according to Executive Director Viktor Vekselberg.  Gazprom and the state-owned Hungarian Development Bank have agreed to set up a company to develop Hungary’s part of the South Stream gas pipeline project.  Shell, Mitsui and Mitsubishi have agreed to cede control over Sakhalin Energy to Gazprom for $7.45 billion.  Gazprom then accorded the state a ‘privileged share which paid a $1.35 billion dividend‘.  Shell has been forced to shut down three crude pumping stations in Nigeria after an attack on a key pipeline.