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Energy Blast – June 11, 2010

Iran says its uranium enrichment program will not be derailed by new sanctions, with President Ahmadinejad promising to put the UN’s measures ‘in the waste bin’.  Russia has apparently suggested that it will discuss the possibility of new nuclear plants in Iran.  Gazprom has an optimistic outlook on European gas demand, despite its apparent slump.  The company looks set to sign a deal with French utility EDF next week on the sidelines of the St Petersburg Economic Forum, on the latter acquiring a stake in the South Stream gas pipeline project.  According to SIBUR Holding’s 2009 financial report, the company’s net profits rose an impressive 20.6%. The government may introduce a discounted tax rate on exports of east Siberian crude on July 1, while cutting the duty on crude oil exports as much as 16%.  India’s Reliance Industries Ltd. is, according to Bloomberg, considering buying a stake in shale gas assets in the US owned by Pioneer Natural Resources Co.  Abu Dhabi’s plans for a colossal solar energy plant are discussed in the Telegraph.   ‘Potentially counter-productive bully-boy tactics’: why Obama should ease off the ‘ass-kicking’ in the FT