Energy Blast – June 9, 2010

The New York Times suggests that a security meeting between Russia, Turkey and Iran in Istanbul may pose somewhat of a conundrum to the US as it opens another UN security council debate on sanctions.  The Moscow Times reports claims that UN sanctions have already been ‘completely agreed upon’.  Vladimir Putin has reportedly encouraged the Iranian President to cooperate.  After the UN finally seemed to achieve some level of consensus, have new divisions in fact emerged?  Ukraine is reportedly willing to swap assets with Russia to allow the two countries to cooperate and be possible partners on the Black Sea shelf.  Vladimir Putin and his Turkish counterpart have said that they do not intend to export natural gas to Israel via a new pipeline to Turkey.   First Deputy Prime Minister Igor Shuvalov has urged the Federal Anti-Monopoly Service to be less tough on oil companies.  Uranium Holding ARMZ has agreed to purchase a controlling stake in Canada’s Uranium One Inc.  Viktor Vekselberg’s thoughts on TNK-BP here.  Another blow for BP as Gazprom pulls out of the Kovytka gasfield deal.  According to the FT, the Kovytka saga ‘highlights how difficult it is to do business in Russia’.