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Energy Blast, Jan. 30, 2008

Gazprom has a new office in Manchester which supplies gas to 8,000 businesses, and hopes to increase its sales from £16m to £100m over the next year. Gazprom is set to begin exploration work in Kyrgyzstan in March, where it will explore and develop two fields. Anglo-Russian TNK-BP has at last procured access to the Gazprom-controlled pipeline system for the joint venture’s West Siberian gas fields. The European Union supports Ukraine’s attempt to revise its natural gas agreement with Russia, which would allow the country to sign a long-term accord, says Ukrainian Prime Minister Yulia Tymoshenko. Russia doubled the gas price for Ukraine in 2006 and raised it by 37% last year and 38% this year. Russian mid-sized oil firm Tatneft reported a 14% rise in 2007 sales and a 27% increase in pretax profits.

China’s Sinopec plans to reduce its crude oil imports from Ural in Russia by one third. Russia is still China’s fourth-largest oil supplier, but its share has been reduced in the last years.World EnergyOilfield services company Halliburton has brushed aside claims the decision to set up a second headquarters in Dubai was aimed at evading US sanctions to resume operations in Iran.Chevron Corporation announced that its affiliate Tengizchevroil has started up new facilities as part of the first phase of its expansion at the Tengiz Field in Kazakhstan.Nigeria has agreed with foreign companies a joint investment of $15.2 billion in oil ventures this year and is seeking debt finance to foot part of its share of the bill.French oil major Total sees continued pressure on oil prices and will increasingly look for oil in less accessible areas to boost production.Singapore Petroleum reported a 78.6% rise in full year 2007 net profits.