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Energy Blast – April 19, 2011

Despite safety fears, Moscow will build the world’s first offshore nuclear plant, to be nicknamed the Akademik Lomonosov. ‘All possible emergency situations have been tested. Safety testing began under the Soviet Union.‘  One year on from the Gulf of Mexico disaster, BP is still facing ‘hundreds of lawsuits and civil and criminal fines‘ and expects the total bill to come to over $40 billion.  Here’s a breakdown of key individuals and actions, including claims and investigations.  BP’s latest failed attempts to complete its tie-up with Rosneft have compounded its woes, overshadowing what the company itself claims is ‘a remarkable return to health‘.  Rosneft may seek another partner with which to conduct joint exploration in the Arctic if it is allowed to split its proposed, stalled agreement with BP into two parts.  The price of oil will dictate whether or not Russia balances its budget early, says Finance Minister Alexei Kudrin, anticipating that an average price of $120 a barrel next year would clear the budget deficit.