On Energy Source:
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The Platts Top 250 ranking of the world’s leading energy companies for 2009, released today, holds few surprises in the top 10 – ExxonMobil at number one, inevitably – but does have a lot of intriguing detail.
It is still the big international oil groups that dominate. Chevron edging out Royal Dutch Shell for second place (giving the US a one-two at the top of the chart) and BP nudging ahead of Total for fourth place, symbolising its recovery under Tony Hayward, are the most notable shifts at the top since the 2008 ranking. Read more
Click on its Climate Challenge site for a quiz with Gael Garcia Bernal (The Motorcycle Diaries), Ashley Jensen (Ugly Betty, Extras), Mackenzie Crook (Pirates of the Caribbean, The Office, no relation) and David Tennant (Dr Who). Read more
Crude oil prices rallied with Nymex December West Texas Intermediate up $1 to $77.35 a barrel while ICE January Brent added 99 cents to $77.30 a barrel.
Olivier Jakob, head of Swiss-based oil consultancy Petromatrix, said global markets were seeing a continuation of risk appetite but this was largely sponsored by continued pressure on the dollar.
“As long as the dollar bashing continues, there will be some support coming to commodities and to oil, but the risk concentration on the (short) dollar trade is increasing by the day as fundamentals do not provide enough support,” said Mr Jakob. Read more
Fatih Birol, chief economist of the International Energy Agency, answers readers’ questions about oil supplies, natural gas, and CO2. Read more
Obama rules out Copenhagen treaty
Summit will not produce a binding agreement to tackle global warming (FT)
Repsol weighs Brazil options
Spanish oil firm seeks financing to develop discoveries (WSJ)
EU warned of green energy threat
Investment rate must increase sharply, says report (FT)
Global recovery ‘carries new risk of price surge’
Conditions are ripe for a fresh surge in food prices, says UN (FT)