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Energy Blast – March 31, 2009

Gazprom, ‘Russia’s most indebted company’, plans to place a eurobond with a minimum volume of CHF 200 million, and a yield of around 9%.  Deputy Prime Minister Igor Sechin says Russia will sign its final deal with China on the guarantee of crude supplies in exchange for $25 billion in loans within one or two weeks.  Sinopec is looking to increase its stakes in oil and gas projects in Africa and Latin America to prevent a drop in its oil reserves.  Read more on Surgutneftegaz’ €1.4 billion purchase of a stake in Hungary’s MOL – ‘the benefits for Surgut were an open question’.