Lukoil doesn’t plan to send pipeline oil shipments to Germany in April, citing unidentified oil traders. The company has appointed seven banks to arrange a $1 billion syndicated loan for “general corporate purposes”. Russia’s federal anti-monopoly service plans by May to draft amendments to its gas export law that would allow independent gas producers to participate in natural gas exports, which are currently exclusively controlled by Gazprom. Safe Technologies Inc. has signed a contract with TNK-BP for design and construction of a waste treatment complex to keep in line with Kyoto Protocol.
WORLD ENERGYAramco Overseas has sold its 40% stake in Philippine oil refiner Petron Corp to London-based investment fund Ashmore Group for about $550 million.Global trading of liquefied natural gas rose 8% last year as cold winter temperatures and the closure of nuclear plants in Japan boosted consumption.Coal and utility executives predict that coal will remain the most economical fuel in years to come, with the global coal industry currently experiencing a boom.Venezuelan president Hugo Chavez has won a key boost in a legal battle with ExxonMobil after a UK court cancelled an order freezing $12bn of Venezuelan oil assets.