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Energy Blast – July 14, 2011

Russia has mounted opposition against a UN security council resolution on Syria’s nuclear operation and failure to cooperate with the IAEA.  Meanwhile Sergei Lavrov has proposed a carrot and stick approach to Iran with regards to its nuclear regime, following talks in Washington with Hillary Clinton.  Clinton has pledged to ‘study’ the Foreign Minister’s proposals.  Lithuanian President Dalia Grybauskaite has reportedly signed a new law that will undermine Gazprom’s control over supplies and distribution in the country.  As it attempts to reassure investors spooked by the failed Rosneft deal, BP has announced it plans to launch a $4.8 billion redevelopment of a North Sea field.  Modernizing its electricity infrastructure will, according to Ria-Novosti, be a key prong in the North Caucasus’ modernization drive.  The  global whaling forum has heard that sonic blasts used in Russian oil exploration pose an increasing danger to whales which inhabit the waters around Sakhalin Island.