The retreat of Hurricane Gustav has seen oil prices fall. “If the industry is able to get on its feet quickly, any long-term impact on petrol production would prove minimal.” Russia will cut oil export duty by 2% for the first time in a year this October, in order to tie in with global prices. Gazprom Neft plans to apply for permission to ship crude oil to China via Kazakhstan this year. Conflict in Georgia may cause Australia to reconsider a uranium supply agreement with Russia. French energy group GDF Suez is defending the security of Russian gas supplies. On the US’ controversial nuclear deal with India.