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Energy Blast – Sept 7, 2010

Sberbank says that Russia could supply 200 million metric tons of emission credits, supposedly as part of a program to reduce emissions.  Gazprom is to consolidate its various electricity holdings and create a new giant power producer.  Bloomberg reports on TNK-BP’s plans to increase spending by 52% in a bid to boost output over the next five years.  Vladimir Putin commented on a number of energy issues during his appearance at the Valdai Club, including throwing his weight behind nuclear power as the only alternative to traditional energy sources, and promising that work on the South Stream is progressing just as quickly as work on the North Stream, whilst offering negative outlooks for rival project Nabucco.  Petrobras’ $75 billion share offering is ‘brazen confidence‘, but can it deliver?