Energy Blast – July 8, 2009
Source: http://www.robertamsterdam.com/2009/07/energy_blast_-_july_8_2009.htmPosted on Wednesday, July 8th, 2009 | In Market Commentary, Russia
ExxonMobil has complained that Russia’s subsoil law, which curtails foreigners’ access to oil fields, is the main hindrance in its attempts to develop further in Russia. TNK-BP is considering additional investment this year, although less than the $400 million that was decided at its previous board meeting. Good news for Russian resources – apparently the Barents Sea shelf may contain up to 76 billion barrels of oil equivalent, most of which is to be found in the Russian part of the zone. ‘Underinvestment now means that future supplies are in jeopardy – at the same time as demand will be soaring’; an article in the Telegraph examines the factors behind a possible oil spike. The US may consider limiting specualtion on energy markets as a way to stabilize the financial system. Lukoil has denied recent media reports that it is planning to build a US refinery with ConocoPhillips. Reuters reports on how Barack Obama’s vision of creating a non-Russian route for transporting gas from the Caspian Sea to the West may depend on finding a path through the complicated territorial and inter-ethnic issues in surrouding republics.
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 About Robert Amsterdam (http://www.robertamsterdam.com/)
Robert Amsterdam is a lawyer and an advocate for rule of law. His blog was created to express views which may stimulate debate and discussion on topics of international interest. Robert believes that we live in a world of unchallenged impunity, and he views his blog as merely a small attempt to shine a light on issues he views as important in countries with which he is engaged. He make no apologies or pretense of objectivity - he is merely stating his opinions. |
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