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Energy Blast – June 7, 2012

TNK-BP stock prices have fallen dramatically as Citigroup identified the stock as ‘high risk’, after BP announced its plans to sell off its stake within the joint venture.  Indeed, the resumption of the lawsuit against the British major ‘highlights the political and litigation risks that the oil major faces’ says Reuters.  Under legal amendments agreed by Russia’s competition watchdog, a confidential document at the core of BP Plc’s disputes with its TNK-BP partners AAR may be published.  In a move designed to reduce dependence on Gazprom, Estonia’s parliament has approved legislation to separate ownership of natural-gas sales and transmission operations.  Gazprom has told the press there is a ‘good chance’ that all three phases of its Shtokman gas field will be developed into liquefied natural gas.  Kazakhstan’s state oil and gas company KazMunaiGas has secured a $1.13 billion loan from China to complete an upgrade on its Atyrau oil refinery.  Russia is apparently concerned about the possibility that Belarus is selling on adulterated petroleum products.