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The Times: Need to know 2006: January 01, 2007


Gazprom cut off supplies to Ukraine in a row over gas price increases. Ukraine stole gas from transit pipelines, creating shortages and soaring prices in Europe.

Rosneft, Russia’s state oil company, raised $10 billion (£5.1 billion) in a London share offering after Yukos shareholders failed in a legal attempt to stop the float.

BP, the oil and gas giant, said that it was shutting down oil production at Prudhoe Bay, Alaska, after discovering serious corrosion in the pipelines.


BG, the gas and oil group, said that it had made what is likely to be the biggest North Sea gas discovery for five years. The natural gas explorer and producer said that it could be developed quickly because it is close to existing infrastructure.


Shell, the Anglo-Dutch oil and gas group, offered Gazprom, the Russian gas monopoly, majority control of Sakhalin-2, the world’s biggest gas project, after an 18-month campaign of harassment by the Kremlin’s environmental agency.

Statoil and Norsk Hydro agreed to merge to create a Norwegian energy champion and the second-largest gas supplier to Europe.

Cairn India, a subsidiary of Cairn Energy, the Scottish oil explorer, raised $2 billion (£1 billion) in the Bombay float of an Indian oil discovery.

The above are energy extracts: for the full list go to…,,5-2525568_1,00.html and its sister websites,,,,, and are all owned by John Donovan. There is also a Wikipedia article.

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