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Energy Blast – March 26, 2011

Igor Sechin is the only person who seems to think that the Rosneft/BP tie-up is suffering from a case of delay, rather than outright suspension, says The Guardian.  Reuters analyses the BP-Rosneft deal, saying that it is ‘a watertight legal case‘ as far as TNK-BP is concerned, but that it may go ahead anyway, with reports suggesting that the two could press forward with a share swap, leaving out the exploration pact.  What would be the point of that?, asks the FT.  This piece suggests that Vladimir Putin could broker the deal himself. Meanwhile Rosneft is getting other offers for Arctic collaboration, and is apparently already in talks with Royal Dutch Shell.  Could a buyout of TNK-BP cost BP $15 billion?  Is the Russia-China oil dispute escalating?  Both governments approved the deal but price disputes continue, and the figures appear to be rising, with Beijing apparently having underpaid by $100 million for this year’s supply.  Transneft is planning to spend $5.7 billion on new pipelines this year.  Under a $2.8 billion contract, Rosatom has agreed to supply enriched uranium to the U.S.  As the 25th anniversary of Chernobyl approaches, journalists are revisiting the scene.  Once Norway and Russia have signed their eagerly-awaited border treaty, Arctic oil and gas deals will go ahead more smoothly.