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Energy Blast – Dec 12, 2011

The Economist reports back from the conclusion of climate talks in Durban, which have culminated in an agreement whose terms are ‘unlikely to be sufficient to prevent a global temperature rise of more than 2°C […] Yet with many governments distracted by pressing economic worries, the deal was as much as could have been expected from Durban; perhaps a little more’.  Oil and Gas Eurasia reports that most Russian companies have improved their positions in the latest rating by Energy Intelligence of the world’s 50 biggest oil and gas corporations.  Ex-German Chancellor Gerhard Schröder and former Corus Group chairman James Leng are said to have resigned from TNK-BP’s board amid terse relations between BP and the AAR consortium.  PGE SA, Poland’s largest utility, has abandoned plans to participate in building a nuclear power plant in Lithuania in order to orient its attention towards other investment projects.