Lukoil, Russia’s largest private oil producer, said full-year profit exceeded $8 billion last year, a rise of at least 7%. Aluminum producer RusAl has secured long-term electricity supplies to insure against the tariff hike expected after power sector reforms are concluded. Iran and Russia are to agree on the timeline of commissioning the Bushehr nuclear power plant “in the next few weeks.”
Russia will supply 50,000 tonnes of fuel oil to North Korea in line with the six-nation deal to resolve the country’s nuclear problem.Gazprom says it is interested in taking up to 15% of the commercial Irish gas market, its British unit said. “We’re expanding and obviously Ireland is very close to the UK…” The company also plans to boost energy cooperation with Iran.Citigroup is selling a $1 billion stake in Rosneft.World EnergyNew data shows that coal production in Britain has fallen to its lowest level since the industrial revolution, but that demand has been met by imports from Russia, Australia and elsewhere.Chevron has reportedly been in talks with the Kazakh prime minister to form a “fruitful partnership”.French oil and gas giant Total has launched a liquefied petroleum gas import terminal in south eastern India.Norwegian energy group StatoilHydro has made an oil discovery in the North Sea.“No industrialised country, with the possible exception of Russia, is self-sufficient when it comes to energy. And demand is going through the roof as India and China consume more and more.” An article on the UK’s current energy crisis.