Energy Blast – July 8, 2010

Bloomberg reports that Russia is sending record amounts of oil to Asia, in particular to South Korea and Japan, undermining the Middle East’s traditional dominance.  Ruth Collins in the Guardian highlights the energy issues that could prove to be sticking points in US-Russia relations.  The New York Times reports on BP’s new challenge: reassuring investors and shareholders.  The company’s CEO Tony Hayward claims to have had a ‘very good’ meeting with Abu Dhabi’s crown prince, as the troubled major attempts to ally with Middle East investors.  This article examines the apparently somewhat dubious reputation of offshore drilling company Transocean, who owned the rig involved in the Gulf of Mexico spill.  Chevron will take a roughly 30% stake in its Black Sea oil project with Rosneft.  The head of Iran’s Atomic Energy Organization has stated that an important final test at the Bushehr reactor has been carried out, readying the plant for a late September launch.  According to a GDF Suez executive, European gas demand has rebounded by 10% since the start of the year.