Energy Blast – June 16, 2009
Source: http://www.robertamsterdam.com/2009/06/energy_blast_-_june_16_2009.htmPosted on Tuesday, June 16th, 2009 | In Market Commentary, Russia
The Russian government looks set to raise oil duty by 39% on July 1. Oil firm Lukoil has announced that VEB has bought up a stake in the company, though it has not specified when this transaction took place nor how big the stake is. TNK-BP has announced that the two candidates proposed for the position of CEO have been appointed executive vice presidents. Following the suspension of gas supplies during January’s ‘gas war’, Europe’s imports of LNG from Russia fell by 35%. Apparently Total is hoping to develop more projects in Russia with Gazprom. Bloomberg reports that Spain is attempting to build up reserves of gas that could reduce European dependence on Russian imports, but their plans are hindered by a lack of pipelines. TNK-BP will hire a large number of foreign staff from outside Russia after many non-Russian employees left the company last year. Poland has signed a $300 million deal with Gazprom for 1 billion cubic meters of gas before September 30. Gazprom expects output to remain low until the end of 2012, and it may postpone the launch of its large Bovanenkovo field.
Last 5 posts by Robert Amsterdam
- Grigory Pasko: Journalists Are Fleeing Russia - November 20th, 2009
- Evgeny Lebedev and the Londongrad Blues - November 20th, 2009
- The Obstacle of Pride - November 20th, 2009
- The Iron (Pipeline) Curtain - November 20th, 2009
- Yurgens: A Taliban-controlled Afghanistan is no picnic for Russia - November 20th, 2009
Europe, gas supplies, gas war;, Gazprom, Lukoil, Market Commentary, Poland, Russia, Russia, Russian Government, Spain, VEB
 About Robert Amsterdam (http://www.robertamsterdam.com/)
Robert Amsterdam is a lawyer and an advocate for rule of law. His blog was created to express views which may stimulate debate and discussion on topics of international interest. Robert believes that we live in a world of unchallenged impunity, and he views his blog as merely a small attempt to shine a light on issues he views as important in countries with which he is engaged. He make no apologies or pretense of objectivity - he is merely stating his opinions. |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.