James Fontanella-Khan Spot news

- Hurricane season finds energy groups unready
Gulf of Mexico energy companies are taking a big risk (FT)

Utilities would take worst financial hit with US CO2 bill: Study
Risks would vary widely between companies (Platts)

- BP ends final pay pension for new staff
BP was one of the last remaining FTSE 100 groups to offer final salary pensions (FT)

- Lombard: BP’s long-lived pensioners pose a problem for all
The issue of longevity bonds by the UK government would help (FT)

- Meralco owners face hurdles to power revival
Investors are watching for fresh signs of hostilities to erupt (FT)

- Centrica to buy stake from Canadian Superior Energy
Owner of British Gas to invest almost £500m in Trinidad (FT)

- India’s Tata Power plans gas-based plants
This will be the first time of the Tata’s (HT)

- Shell sees Iraq moving swiftly to first oil bid round awards
Shell’s chief positive about future of war torn country (Platts)

- Wood is new coal as polluters use carbon-eating trees
Wood is becoming a hot commodity in a new low-carbon world (Bloomberg)