On Energy Source:
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Enough was enough this week for DNO, the small Norwegian oil company much-watched as a gauge of whether foreign investment in Iraqi Kurdistan will work.
It responded to the Kurdistan government’s outrage over a minor media controversy in Norway in the only way it could: by pointing out the real issue at hand and acting on it. However disappointed Kurdistan was about slander it had suffered at the hands of Norwegian journalists, DNO was equally disappointed by the failure to receive any payment for the Kurdish oil it has been exporting for four months.
This week is offered a grovelling apology to oil grandees in Kurdistan followed by an icy postscript: until you figure out how to pay us, we will not export your oil internationally, it said. DNO added that it will focus on domestic oil sales until Baghdad and Erbil settled their long-running dispute once and for all. Read more
IEA call to make emissions slump permanent
Global greenhouse gas output set to drop by about 3% due to recession (FT)
Exxon takes $4bn stake in Ghana oil field
Move to tap Africa’s most potentially lucrative oil discoveries (FT)
Political alliances shift in fight over climate bill
Many firms stand to gain if the US start charging companies to emit carbon dioxide (WSJ)
Drop in CO2 justifies tough carbon caps, groups say
EIA forecast a 5.9% drop in energy-related carbon emissions (Bloomberg) Read more