Energy Blast – May 4, 2011

TNK-BP’s first-quarter earnings showed a 91% gain – ‘an insight into why the tycoons refused a $27 billion offer from BP‘.  Winsway Coking, a Chinese coal importer, has agreed to buy a Russian coal deposit for $90 million – a deal thought to be the first Chinese purchase of Russian coal.  India is also showing interest in Russian coal, importing for the first time this year with annual demand estimated at around 1-2 million tons.