Energy Blast – April 4, 2011

The Alfa-Access-Renova shareholders are still fighting to block BP’s proposed tie-up with Rosneft, which it is seeking to push through as just a share-swap: ‘Lawyers for the oligarchs will argue that BP would not raise its stake in Rosneft from 1.5pc to 11pc, in exchange for Rosneft taking 5pc of BP, unless it had commercial motives.‘  BP is seeking permission to resume drilling in the Gulf of Mexico.  Ukraine’s state-owned Naftogaz will sell 25% of its shares.  The U.S. has pledged to support the construction of the Nabucco pipeline in every way possible.  According to the German Association of Energy and Water Industries, Germany now imports 50 gigawatts of electricity daily as a result of shutting down its nuclear plants in the wake of Fukushima.  The Japanese crisis is spreading unease to India now, where government plans to push ahead with nuclear power are causing concerns.