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Energy Blast – April 11, 2011

The Swedish arbitration tribunal’s decision to uphold the injunction indefinitely blocking BP’s proposed tie-up with Rosneft indicates that Robert Dudley ‘seriously misread Russian politics in striking the agreement‘.  Vladimir Putin apparently warned BP back in January that the Kremlin would not necessarily be able to push the Rosneft partnership through.  Reuters says that BP is starting to look like a takeover target; the FT says the company will make one final push to buy out TNK-BP this week.  Siemens has sold its $2.3 billion stake in a joint venture with Areva back to Areva.  Polish gas prices may stop being set by the state regulator URE within 2-3 years, as part of a plan to liberalise a market currently dominated by PGNiG.  Vladimir Putin replaced the wrong energy minister on RusHydro’s board in a ‘technical error‘, says the Moscow Times.  Gazprom is not happy about Ukrainian plans to privatize Naftogaz, saying that it will complicate their planned joint venture.