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Energy Blast – Sept 1, 2010

Rosneft’s CEO, rumored to be stepping down, says he will leave the company ‘under no circumstances‘.  Eurasia Drilling is anticipating an increase in drilling volumes this year, amid a general rise in drilling across Russia ‘to battle falling deposits in west Siberia‘.  Lukoil could win tax breaks for oil extracted from its Caspian Sea fields, which would apparently be ‘crucial for the profitability of the company‘.  Canada’s PotashCorp, the subject of a hostile bid by BHP Billiton, has accused the miner of ‘inappropriate and highly unethical‘ behavior for apparently cold-calling its customers.  Cairn Energy’s prediction that fossil fuels will supply 80% of the world’s energy by 2030 fails to note speculation that such levels ‘could lead to six degrees of warming by the end of the century,‘ observes The Guardian.  The European Commission says that any deal between Russia and Poland over gas transported by the Yamal pipeline ‘should be managed independently‘.