Or, more to the point: will BP feel differently about Paul Skinner, chairman of Rio who is believed to be the frontrunner for the BHP chairmanship, after the Rio/Chinalco plan drew criticism from investors and commentators?
Skinner explicitly supports the agreement for a $19.5bn injection from Chinalco. Last week he agreed to remain at Rio until mid-2009 after Corus Jim Leng quit as chairman-designate of Rio – because he did not support Chinalco plan but preferred a rights issue. So where does that leave Skinner’s BP prospects? Read more
Total managed to beat estimates in Q4, although profits were of course lower:
France’s biggest company by market value said underlying net profit — which strips out one-off items and unrealised gains or losses related to changes in the value of inventories — was 2.873 billion euros ($3.71 billion). (Reuters) Read more
Home wind turbines suffer another blow – as if George Monbiot wasn’t enough. CNet story, full study by Encraft: Warwick Wind Trials.
Home wind turbines #2: Despite this, a 22-year-old kid from Oklahoma has built his own wind generator, and shows how you can, too Read more
- Shell unveils its own plans for Gladstone CSG-to-LNG plant (Platts)
- PetroChina’s biggest refinery increased fuel exports in January (Bloomberg) Read more
Energy news from the FT:
- Rio Tinto to get $19bn cash injection from China
Chinalco to take stakes in nine mining assets Read more