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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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Brazil unveiled Monday, a plan to increase its control on huge offshore oil reserves. This involves giving its state-owned company Petrobras sole operating rights, much to the disappointment of foreign oil companies.

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