Energy Blast – May 20, 2008

“OPEC ought to do what it can in the short run to hasten a price decline and guard against a drop in oil use.” Gazprom has announced that it will raise tariffs on the supply of gas to Armenia, step by step. “Unconventional oil is the future, both for the world’s fuel supplies and for western oil companies.” A group led by French oil major Total has signed a $2.8 billion financing package for a Yemeni liquefied natural gas project. French energy company Suez is continuing discussions with interested parties on the future development of the UK nuclear energy sector.