Energy Blast – June 23, 2011

Sovcomflot has signed agreements to acquire more LNG tankers for the Yamal Peninsula and the Shtokman project.  This article breaks down BP’s newly-released Statistical Review of World Energy report, focusing in on the rise of global energy consumption and the role of China in the world market as the largest global energy consumer.  Venezuela’s oil output numbers are climbing.  Transocean, which owns the Deepwater Horizon rig from which last year’s Gulf of Mexico spill originated, is blaming BP for the disaster, citing decision on well design and construction.  In the midst of a power crisis, China is reiterating a ban on favourable power tariffs.  Saudi Arabia’s current rate of consumption, which is growing at 7% a year, is driving the government to formulate policies on nuclear power.