Energy Blast – Feb 8, 2010

Gazprom has confirmed that it will delay the Shtokman gas field by three years to 2016 due to a slump in demand.  Rosneft is boasting a 2.5% year increase in proven reserves. Britain points out that Iran’s plans to make higher-grade nuclear reactor fuel would break five United Nations Security Council Resolutions; Russia is calling for care in the imposition of any sanctions on Iran so that they are ‘limited to non-proliferation only‘, and is urging Iran to address international concerns about its nuclear program.  TNK-BP should become more streamlined and efficient, and focus more on growth inside Russia, using the former structure of BP as a model, according to its next head, Maxim Barsky.  Shell says it underestimated how quickly the mood on banking salaries was affecting opinion on executive salaries last year.