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Energy Blast – March 30, 2011

Qatar has become the first country to recognize the Libyan militants as country representatives, signing a contract with rebels in Benghazi to purchase oil.  Dmitry Medvedev has offered his views on the university training of engineers, calling for courses to include practical training.  BP’s row with Russian shareholders at TNK-BP won’t harm Russia’s investment climate, says Arkady Dvorkovich. ‘[O]ur investment climate is [already] so bad that it won’t be affected.‘  Labor-intensive production and well-developed industries mean that four fifths of the world’s next generation of oil engineer graduates will come from Asia and Russia.  The U.S. has imposed sanctions on state-owned Belarusneft, in response to its $500 million investment with an Iranian firm in 2007.  Lithuania’s deputy minister for energy is excited about nuclear power as ‘an issue of national security‘.  Disagreements with co-investors may mean that Transneft’s pipeline link to connect Europe and Asia-bound networks will be delayed until 2016.  Independent African company Tullow Oil has signed a $2.9 billion partnership agreement with CNOOC of China and France’s Total.