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Energy Blast – May 2, 2008

A subsidiary of Lukoil has finalized the purchase of Europa-Mil, the owner of a chain of gas stations in Croatia. ExxonMobil’s $10.9 billion profit has “disappointed” investors. Eesti Gaas, an Estonian gas company run by Gazprom, has applied to raise prices for consumers by 41% between September and October. Authorities in Azerbaijan are demanding more documentation before they will release a consignment of Russian equipment destined for Iran’s Bushehr nuclear plant. United Company Rusal may be hindered in combining with Norilsk Nickel because of investor opposition and a possible Rusal share sale. Read a special report on Brazilian state-controlled oil company Petrobras. Eurasian Natural Resources Corporation, the Kazakhstan-based metals and mining group, has taken a first step outside the CIS with the acquisition of a 50% stake in Brazilian mining company Bahia Mineração Limitada, for $300 million.