Energy Blast – March 10th, 2009

Russia’s government analysts see the energy sector as the ‘pivotal area of bilateral economic cooperation’ with Hungary, as the two countries begin a round of talks for cooperation.  The Indian government has rejected criticism from Goldman Sachs analysts that it failed to consult minority shareholders on $20 billion of subsidies for refiners taken from its Oil & Natural Gas Corp.  Spain’s push for wind energy has resulted in wind turbines and hydroelectric plants generating 30% of Spain’s energy this year, for the first time.  The US’ Interior Secretary promised to move aggressively to develop plans to exploit the resource in his own country.  Serbia and Italy have signed a deal on joint investment, pledging to work closely on gas and oil pipeline projects, with the Serbian energy minister calling joint strategies the best way to respond to the financial crisis.