Energy Blast, Jan. 15, 2008

Sweden-listed oil firm West Siberian Resources has signed a preliminary agreement to buy Alliance Oil in a stock deal valuing the Russian firm at about $1.5 billion. Gazprom is planning to boost energy cooperation with Iran, and an offer is to be made by the Russian company in mid-March. Gazprom’s plan to construct a 1,050-foot-tall skyscraper as its headquarters in St Petersburg has met opposition from 600 residents and activists. Russian electricity producer OGK-3, controlled by metals firm Norilsk Nickel, is considering “a range of acquisitions in the power sector,” including TGK-4.

World EnergyRepsol has found enough natural gas in Peru’s jungle to ensure Peru’s gas supply for up to 40 years.The consortium involved in the Kashagan oil field, led by Italy’s Eni, will now take a smaller stake in the project after it agreed to give equity stakes in the project to KazMunaiGaz, Kazakhstan’s state-owned energy firm.The Iraqi government in Baghdad signed some $558.3 million worth of contracts with international companies to upgrade its downstream and upstream oil facilities in 2007.Norwegian energy group StatoilHydro will provide customers of Germany’s E.ON in the UK with technology to boost efficiency of small-scale gas or diesel power plants.