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Energy Blast – July 28, 2010

Bulgaria’s former prime minister has criticized the current government for pulling out of plans to build a Burgas-Alexandroupolis pipeline with Russia and Greece, questioning its apparent motive of environmental safety.  The Nabucco pipeline will receive support from nine Turkish companies.  A day after it described Iran’s criticism of its support for UN sanctions as ‘unacceptable‘, Russia has criticized a new set of sanctions against Iran drawn up by the European Union as ‘unacceptable‘ (on grounds that they are outside the UN Security Council framework).  BP’s Tony Hayward on stepping down as leader: ‘Life isn’t fair.‘  The FT writes on the future of oil giants: ‘Companies such as BP wanted to see the world as a single market, but in reality national interests still predominate. We are entering a new world in which success will go to those who move beyond old visions of monolithic, centralised global enterprises towards new approaches built on partnerships and joint ventures attuned to local needs.‘  An EU energy official is urging Ukraine to reform its gas infrastructure and trade practices to ensure an ‘efficient, transparent and well managed energy sector‘ not at risk from Russian delivery disruptions.  The Norwegian Climate and Pollution Agency has granted permission to Statoil to begin drilling at the Skrugard field in the Barents Sea.  The new US Senate bill on clean energy proposes a ‘dramatically pared-down‘ version of original plans.