Gimme Fuel: $11 billion pipeline launched, EU to get gas directly via Nord Stream
Construction of the Nord Stream pipeline has officially kicked off after a five-year wait. The 1200-kilometre long pipeline will be the longest in the world, and will directly supply Russian gas to mainland Europe. The 11-billion dollar project has been championed as a way of bypassing the political troubles surrounding the current Ukrainian supply route.
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Chinas Cnooc Buys Bridas Stake for $3.1 Billion: Video
March 15 (Bloomberg) — Cnooc Ltd., Chinas biggest offshore oil explorer, agreed to buy a 50 percent stake in Argentine producer Bridas Corp. for .1 billion, adding an estimated 318 million barrels of reserves as Chinese fuel demand surges. Bloomberg’s Melissa Long reports. (Source: Bloomberg)