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Energy Blast – Oct 3, 2008

TNK-BP’s Russian managers have withdrawn a lawsuit against chief executive Robert Dudley that accused him of violating labor rights. Germany’s E.On agreed to swap part of its stake in Gazprom for an interest in Russia’s Yuzhno-Russkoye gas field, helping to resolve bilateral relations between Russia and Germany. Oil output in Russia has fallen for the ninth month in a row. Exxon’s subsidiary in Russia has pledged to boost gas output. The civilian nuclear agreement between India and the US has prompted Pakistan to demand the same. Given the EU’s concern for energy security, why are European countries undermining the Nabucco pipeline, and defending the Nord Stream pipeline, wonders The Economist. On how to promote the trade of LNG. Ukraine and Russia have resolved gas differences for the time being amid what Vladimir Putin called ‘difficult conditions‘.