Energy Blast – July 9, 2010

State uranium producer ARMZ saw net income increase 23-fold last year to $217 million as output increased and assets were purchased.  BP shares have seen steady gains over the past two weeks as the oil company gets closer to stemming the flow of oil into the Gulf of Mexico. TNK-BP has received permission to increase gas shipments through Gazprom’s pipelines, which will allow it greater access to fields in northern Siberia.  Kazakh authorities have voiced suspicions that an oil venture overseen by U.S. giant Chevron has extracted $1.4 billion worth of oil beyond the level agreed with the government.   Gazprom says it has no plans to increase its stake in Latvia’s gas monopoly.  Under a program to consolidate energy sales assets, Gazprom and SIBUR have exchanged securities, with the latter, via Siburenergomenedzhment, receiving 7% of shares in Mezhregionenergosbyt.