Energy
· Giant dome, fires aimed at huge U.S. oil spill – Oil workers, volunteers, and the military waited around another day as workers try to plug the oil leak and protect the coast from an environmental disaster. BP has begun transporting a metal device aimed at channeling the flow of oil to a drilling ship. The device will take 12 hours to reach the leak and could begin capturing oil by Monday. Reuters
· Russian warship frees hijacked tanker – The crew of a hijacked tanker engaged in a firefight with pirates and freed 23 seamen who were taken hostage a day ago. The tanker was on its way from Sudan to China when it was hijacked. Reuters
· Russia's TNK-BP makes foray into Iraqi oil and gas – Russia’s TNK has created a JV to develop oil and gas in Iraq. Reuters
· No OPEC action needed after recent price swings – Qatar’s oil minister said that OPEC doesn’t need to take action despite the recent swings in oil prices as price movements aren’t related to supply and demand. Reuters
· OPEC to let oil quota-busting persist as crude exceeds $80 – OPEC will keep pumping oil above their quotes despite crude’s rise above $80. Qatar’s oil minister said they will only move if there is a shortage of supply, even if oil goes to $100. Bloomberg
· Peabody to continue with takeover of Macarthur Coal – BTU said it is going forward with its acquisition of Macarthur Coal despite the Australian mining tax. WSJ
· SunPower building 1.3MW solar plant in Lazio for Solar Green Energy – SPWRA is building a plant for Solar Green Energy that should be operational by the end of the year. Terms were not disclosed. Bloomberg
· RIG reports 1Q earnings – RIG reported 1Q earnings of $2.22 ex-items (st. $2.11) on revenues of $2.6B (st. $2.65B). Bloomberg
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