Energy Blast – Oct 24, 2011

Russia and Kazakhstan have apparently agreed to cancel oil export duties for CIS member states, although not before 2020.  The Russian government is not satisfied with the speed of its plans to develop its Arctic shelf, and has drafted a programme of investment to take it through to 2030.  TNK-BP will keep Mikhail Fridman on as chief executive for another two years; as Maxim Barsky, who many expected to take the role instead, resigns.  The decision ‘highlights a degree of trust that still runs between BP and the original Soviet-born founders of the Russian half of the joint venture’.  The Telegraph looks at BP’s continuing underperformance.  Transparency International have been analysing tenders by Rosatom, and have uncovered some suspect transactions.  Energy market regulation talks between Russia and the European Commission have collapsed, according to Energy Minister Sergei Shmatko.  Gazprom believes that it would be unreasonable’ to lower gas prices for Ukraine.  An anticipated slowdown in wind turbine installations this year may spark a ‘bloodbath’ among wind turbine producers.