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Energy Blast – June 1, 2012

BP says it is considering selling its TNK-BP stake, having received ‘unsolicited approaches’ from unidentified parties (Reuters suspects Gazprom and Rosneft to be involved).  TNK-BP co-owner Mikhail Fridman has been calling for an ownership restructuring this week: ‘Either BP or AAR must ultimately control the company’.  Russia’s electricity generator OGK-1 reported a first quarter net income drop of 32%, in part due to tariff caps.  Russia has agreed to review its 2009 gas contracts with Ukraine.  During Vladimir Putin’s visit, an agreement has been reached under which Russia will begin financing the construction of a nuclear power plant in Belarus.