Anadarko Petroleum, which part-owned the Macondo oil well, will pay BP $4 billion in an out of court agreement to settle all claims relating to last year’s Gulf of Mexico spill. CNOOC has discovered an oil sheen near its Jinzhou 9-3 West oilfield in Bohai Bay. Dmitry Medvedev is calling for Gazprom to provide him with an analysis of Europe’s Third Energy Package and its implications for the Russian energy market. Turkmenistan prepares for its role supplying natural gas to the Nabucco pipeline. Iran is almost ready to start exporting jet fuel – likely to South East Asia. Turkey is reportedly seeking increased natural gas exports from Iran, and China may also start importing Iranian gas, via Pakistan. Is the E.U. facing 20 years of electricity price hikes?