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Energy Blast – September 23, 2010

In a sign of expanding energy ties with Russia, oil producer Rosneft and China National Petroleum Corp. will build a $5 billion refinery in China.  Talks on natural gas supplies may continue in 2011.  A US official has reported that Iran may be open to meeting the permanent members of the United Nations Security Council to participate in discussions about its disputed nuclear program.  Afghanistan has pledged that the TAPI, a planned $3.3 billion international gas pipeline, will be secured when passing through Taliban territory through building sections underground and paying local communities to monitor it.  Russia has agreed to supply 10 tankers worth about $700 million to Venezuela by 2016.  Tanzania has reportedly signed a contract with Russia’s Borodino Group to build a 222-megawatt hydropower plant in the African state.  Apparently American businesses are taking an active interest in securing energy deals with Turkmenistan.  A flurry of activity being reported at the moment on the part of India’s ONGC – aside from demonstrating an interest in the Treb and Titov fields, the company has begun drilling its first shale gas well in India and intends to buy 14 rigs for $877 million in two to three years.