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Energy Blast – May 12, 2008

One UK journalists considers the implications of oil at $200 a barrel. An electricity-trading arm of national utility Inter RAO asked the Turkish Energy Ministry to delay a tender to build two power plants so it can prepare a bid. Kazakhmys is expected to look at ways of offloading its 15% stake in ENRC after rejecting its domestic rival’s $14 billion takeover proposal last week. Gas Natural, Spain’s largest gas importer, says Algeria is using Spain’s energy dependence to extract unfair competitive advantages. In a blow to Tehran’s attempts to expand its energy exports amidst international sanctions, Royal Dutch Shell and Spain’s Repsol have pulled out of Iran’s South Pars gas project.