Energy Blast – July 21, 2011
Prosecutors have demanded that a Moscow court sanction the arrest of a former deputy general director of the Rosatom nuclear power corporation who is suspected of embezzling $1.7 million. A senior UN Environment Program official has warned that climate change poses a major threat to future peace and security and increases the risk of natural disasters; a threat which some nations arguably underestimate. Why the UK has cause for concern about EDF’s promise to deliver its first two nuclear stations in Britain. Russia’s oil-rich Republic of Tatarstan and Wermuth Asset Management apparently plan to spend €200 million on a clean technology fund. In the latest twist in the TNK-BP Rosneft row, a group of minority shareholders have been granted the right to obtain legal documents from TNK-BP. Shares in BP have reportedly gained 2.5% amid speculation that ex-partner Anadarko Petroleum is willing to settle all legal claims relating to the Gulf of Mexico oil spill. Russia has approved Total’s acquisition of 20.5% in Yamal LNG, exempting the French oil major from laws constraining foreign investment in strategic sectors.