Daily Archives: March 27, 2009

Ed Crooks

Sheila McNulty writes from Houston:

The small companies that drive the bulk of US natural gas production are going to Washington DC next week to lobby against tax increases for the oil and gas industry proposed by the Obama Administration. Read more

Ed Crooks

In Energy Source:

Opec cuts output as promised

GTL and CTL still have good long-term prospects despite the downturn

Libya to block Chinese takeover

FT is faked by environment campaigners

Elsewhere:

In a historic step, US vehicle fuel economy standards will be raised for the first time in 25 years (Detroit News) Read more

Ed Crooks

Commerzbank highlights the estimates from Oil Movements, the information service, that Opec shipments are dropping by 770,000 barrels per day in the four weeks to April 11 compared to the previous four weeks. If accurate, that would confirm that Opec members are sticking by their commitment from Vienna on March 15 to cut their over-production above their agreed limits, which was then about 800,000 b/d.

The news sent crude prices to a 4-month high of $54.60 a barrel on Thursday. Read more

Ed Crooks

The FT is the subject of the sincerest form of flattery today, in the shape of a 12-page spoof and accompanying website from environmental campaigners, linked to protests around the London G20 meeting next week.

It is a mix of jokes and arguments, of varying quality, but the production is superb. Thay have reproduced the look of the FT very impressively. Read more

Energy news from elsewhere:

- Vote for IAEA chief is deadlocked (WSJRead more

Energy news from the FT:

- Rio Tinto reveals its ‘Plan B’ on funding
Alternative ready if Chinalco’s $19.5bn investment blocked  Read more