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Energy Blast – March 29, 2011

EU Energy Commissioner Gunther Oettinger reveals the extent of Russia’s influence on the Nabucco pipeline, asking it not to pressure the pipeline’s potential Central Asian suppliers.  The Kremlin may make it illegal for a company to reduce oil output when there is demand.  The Independent on BP’s plans to go ahead with a share-swap-only Rosneft deal: ‘But how would a share-swap conducted outside an exploration deal help? It’s the consummation of the relationship that interests investors, not the sweet-talk beforehand.‘  And of AAR’s blocking the deal, Sarah Arnott says, ‘Mr Dudley of all people should have seen it coming.‘  A Russian investor has plans to take over Poland’s state-controlled oil refiner Grupa Lotos, which put its own 53% stake on the market, but the Polish government is recommending ‘some caution and reserve‘ over potential Russian involvement, despite having ‘no ideological ban‘ on the deal.  A dispute between Transneft, Lukoil, Gazprom Neft and TNK-BP could delay the construction of an oil pipeline to China until 2016.