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Energy Blast – Dec 6, 2010

Rosatom’s uranium-mining unit has won approval to purchase a control stake in Canada’s Uranium One Inc, which effectively could give it control over half of US uranium production, Bloomberg reports.  The Algerian government is holding up BP’s plans to sell its In Salah and In Amenas gas fields to TNK-BP, fueling speculation that Algeria’s state-run Sonatrach may end up buying the fields instead.  Venezuela has given its approval for a tri-lateral venture with Cuba and Angola to produce oil in the Orinoco Basin.  South America looks to be a target market for Iranian natural gas, with exports to Argentina and Cuba set to begin soon.  Russia’s Energy Ministry has completed a draft policy on developing its oil industry over the next decade with trillions of rubles of investment, with officials hoping to having it agreed by the end of the year.