Alarm bells were ringing in Brussels following Gazproms offer to buy all of Libyas spare reserves to further strengthen its position in the North Africa market. While the EU has much to worry about in its bid to diversify supplies, if anything, securing large reserves at cheap prices is set to become harder for Gazprom as international competition for reserves increases in producer states.

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Special Report: Hit the BRICs for a Global-Investing Double Play
Money Morning -1 hour ago
But since Russia is primarily a play on energy prices, two of the three suggestions are energy companies: OAO Gazprom (Pink Sheets ADR: OGZPY),

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Gazprom Stocks Converted to
Kommersant, Russia -2 hours ago
Gazprom had long maintained the ADR share at 4.42 percent of stock capital. In April of 2006, it launched another program of first-level ADRs,

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Gazprom International Strategy Remains Exposed As Political Risk
istockAnalyst.com, OR -1 hour ago
Yet the prospect that either Azerbaijan or Libya will sell its hydrocarbons, lock, stock and quite literally barrel, to Moscow, remains highly unlikely.

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BASF Profit Beats Estimates a Sixth Time on Oil Unit (Update4)
Bloomberg -52 minutes ago
Wingas, the division's joint venture with OAO Gazprom of Russia, supplies natural gas to municipal utilities, industrial companies and power plant operators

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The biggest oil producer in Europe was helped by record crude oil prices and higher prices for natural gas.

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2008-07-31 14:55:41 Russia’s Gazprom RAS net profit rises 78 pct in Q2

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Gazprom Stocks Converted to ADRs for $1.4bn in April
Kommersant, Russia -3 hours ago
Gazprom had long maintained the ADR share at 4.42 percent of stock capital. In April of 2006, it launched another program of first-level ADRs,

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Move Over Exxon-Mobil, Here Comes Gazprom
Seeking Alpha, NY -3 hours ago
It’s exactly the kind (although it’sa quite large) of company that I love finding for both my Momentum Model Stock Portfolio and my Investment Advisor
SmarTrend® Opening Bell Comments — July 31, 2008Comtex Smartrend
all 2 news articles

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July 31 (Bloomberg) — BASF SE , the world’s biggest chemical producer, reported profit that beat analyst estimates for a sixth straight quarter as record crude prices bolstered its oil and gas unit and demand for pesticides surged.

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