Energy Blast, March 31, 2008

In a step that could jeopardize the sale of southern Siberian power producer TGK-11, a Moscow court postponed a decision until May on splitting off one of the firm’s main assets, Tomskenergo, in which Rosneft formerly controlled a blocking stake. United Company RusAl ordered the closing of all five pits at its North Ural Bauxite Mine in the Sverdlovsk region amid reports that a strike at one pit could be spreading. Oil firm Surgutneftegas reported a 15% rise in net profit in 2007 despite falling oil production. Gazprom plans $65 billion in capital expenditures in 2009 and 2010 to help boost production. Special report on the Russian intelligence agent who allegedly penetrated the UN Oil for Food program and diverted huge sums to Russia.

WORLD ENERGYA Malaysian subsidiary of ExxonMobil, and the Malaysian national oil company, Petronas, will continue working together under a new 25-year production sharing contract.Deutsche Telekom’s business client unit T-Systems won an information technology contract from Royal Dutch Shell worth €1 billion euros ($1.58 billion) over the next five years.