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Energy Blast – June 6, 2012

A state watchdog has concluded its probe into an oil spill caused by Bashneft in the Russian Arctic.  The Guardian’s energy editor Terry Macalister reports back from the Arctic symposium attended by scientists and politicians in Svalbard.  The US is apparently considering final permits which would allow Royal Dutch Shell Plc to explore for oil in the Arctic Ocean, in an attempt to ensure its foothold in the zone.  Rosatom is apparently looking to work on expanding Hungary’s Paks nuclear power plant.  The company may sign an initial agreement with Chinese energy companies to build a commercial fast neutron reactor in China.  The head of  the atomic agency has denied that Moscow is negotiating the construction of a second unit of Iran’s Bushehr nuclear plant.   Turkey reportedly substantially reduced oil imports from Iran in May and June.  A rapid increase in unconventional supplies will see the United States overtake Russia as the world’s biggest natural gas producer in 2017, say new statistics.  LNG powerhouse Qatar has apparently downplayed the notion of US gas flooding the market.  Exxon Mobil Corp believes that excessive red tape will reduce the possibilities of exploring unconventional sources.