Energy Blast – June 26, 2012

Mikhail Fridman of the AAR consortium has said that no talks have been held with BP over a possible sale of its stake in TNK-BP, its joint Russian venture.  Germany’s unconventional gas reserves apparently amount to trillions of cubic meters and could be safely exploited if the correct regulations are observed.  Two oil and gas fields off the coast of Norway ceased production due to industrial action by platform workers.  Saudi Arabia looks set to continue with its policy of high oil output, despite the drop in crude prices to below $90 a barrel, Reuters says.  Russian state electricity holding company Inter will not go ahead with its plans to expand by making purchases abroad, as a result of uncertainty regarding domestic Russian regulations.