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Energy Blast – Nov 10, 2011

The International Energy Agency anticipates that Saudi Arabia will reclaim its position from Russia as the world’s largest producer of crude oil within four years.  Renewable energy sources will help Europe’s top utilities through a time of higher wholesale gas prices, says Reuters.  The International Atomic Energy Agency says that revelations about Iran’s nuclear programme were ‘a bombshell that surprised nobody’.  Ukraine’s October energy bill from Russia came to $1 billion.  Gazprom’s profits for the second quarter jumped 78% to $10 billion, year-on-year.  RWE reports on the impact that Germany’s move away from nuclear energy is having on core earnings, which have dropped 21% so far this year.