January 1, 2008 By James Kimer

Energy Blast, Jan. 1, 2008

Serbia is deeply divided by Gazprom’s $590 million bid to take over the state petroleum monopoly NIS, a deal which is strongly leveraged upon a connection to the planned South Stream pipeline. The improving profitability of Russia’s domestic market is leading oil companies like Rosneft and TNK-BP to increase capital investment for refining. Kazakh President Nursultan Nazarbayev has summoned representatives from Eni, Exxon Mobil, Total, Royal Dutch Shell and others to hold discussions on Jan.11 on the renegotiation of oil contracts at the Kashagan field, who are hoping to settle the deadlock.