fbpx

Energy Blast – May 11, 2010

Russia and the UAE have offered their assistance to the US in tackling the oil spill in the Gulf of Mexico.  BG Group will pay £633 million for a 50% stake in game-changing shale gas assets from Exco Resources, in the British gas producer’s most recent agreement with its US collaborator.  Oil prices on world commodities markets rose for the second day in a row today as analysts predicted considerable increases in demand for fuel in the months to come.  Hong Kong billionaire Sir Li Ka-Shing is preparing for a £4 billion-plus bid for EDF’s lucrative British electricity distribution business.  Uranium One has reported a first-quarter net loss due to tumbling revenues and increased operating expenses.  Power giant OGK-5 has reportedly said that its first-quarter net profit more than doubled to $86 million as demand for power increased, stimulated by the more general economic recovery.