Energy Blast – April 6, 2011

Unrest in the Middle East is a threat to Russia’s oil interests, says Sergei Ivanov, claiming that stable prices would be preferable to sharp increases.  Russia’s gas exports have risen by 20% already this year, with a slight rise in production and a decrease in domestic consumption.  The chairman of Vedanta Resources speaks to the Financial Times about a long-standing royalties dispute with Cairn Energy and its partner, ONGC, over a $9.6 billion bid to buy Cairn’s oil assets.  The Imo refinery project anticipates that Nigeria will allow it to build its $2.5 billion private refinery after the upcoming elections, as the deal needs the government’s approval.  The head of the International Renewable Energy Agency says Fukushima is making consumers consider sources of power other than nuclear energy.