Energy Blast – October 7, 2009

Russia has denied yesterday’s report in the Independent that the country discussed changing the dollar as the global currency of oil; France has called it speculation.  Iran’s finance minister Shamseddin Hosseini says he has occasionally discussed a move away from the dollar with other nations, but such a shift would require agreement from everyone.  France and Kazakhstan have signed a flurry of deals: Total will acquire 17% and GDF Suez 8% of the Caspian Sea Khvalynskoye natural gas field.  Naftogaz says that it has paid in full its September bill.  Despite a catastrophic financial situation, the company is ready to meet its gas obligations this winter.  Reuters has a feature on the Nenet tribespeople of the Yamal Peninsula for whom Gazprom’s plans for Arctic plunder are a threat to their very existence.  According to Reuters, BP is ‘resignedto giving oligarchs free rein in management at TNK-BP, for fear of another corporate dispute.  Iran is apparently ready to welcome foreign companies to invest in the country’s energy sector.  Gazprom Marketing and Trading has allegedly received a license to operate in Spain.  Exxon Mobil has agreed to pay about $4 billion for a minority stake in an oil field off the coast of Ghana.