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Energy Blast – June 26, 2008

One Russian report says Russian shareholders will attend an annual general meeting of TNK-BP today, despite speculation that they could boycott the meeting, or that the venture’s Russian directors would be pulled. Viktor Vekselberg says the venture’s Russian partners won’t sell their 50% stake because they expect that high oil prices and lower taxes will boost returns. Dmitry Medvedev has rejected suggestions that Gazprom had considered investing in TNK-BP, contradicting claims by Stan Polovets that BP views Gazprom as a preferable partner. An overview of “Robert Dudley and the oligarchs“. Gazprom is reportedly looking into building a gas pipeline to Georgia’s breakaway Abkhazia region. The company will cut its stake in Gazprombank, once its main banking arm, to 25% from 42%. The chief of Rosatom says Russia is prepared to welcome foreign investors into its civilian nuclear power sector.