Energy Blast – Dec 30, 2010

Vladimir Putin is apparently confident that 2011 will begin harmoniously in terms of energy relations with contract-respecting Ukraine and Belarus.  The Prime Minister has ordered the Prosecutor General’s Office to investigate Transneft in the wake of allegations that the pipeline builder misused funds during the construction of the East Siberia-Pacific Ocean pipeline. The Independent reports on the court case against BP, led by investors hoping to gain compensation for the losses incurred when the oil giant’s share value dropped massively during the Gulf of Mexico spill.  Christopher Swann in the New York Times explains why forecasts for soaring oil prices are premature.   Desire Petroleum’s Falklands exploration fails to reap results; the Telegraph looks back on a history of mixed fortunes for oil companies exploring the islands.  Russia and Hungary reportedly remain divided on the future of Surgutneftegaz’s 21.2% stake in Hungarian refiner Mol Nyrt.  Turkey turns towards renewable energy supplies.