The Source: Heritage in Kurdistan and Uganda, bulging inventory levels, biogas plant built, US at Copenhagen
Elsewhere:
US will announce plans for emissions reduction target at Copenhagen (Reuters)
Turning human and animal waste into energy in middle England (BBC)
Valero will permanently close Delaware city refinery (Bloomberg)
A C02 recycler enters the test phase – how it would work (Technology Review)
Corporate Britain not taking climate seriously, says report (Reuters)
That old tune about Kurdistan, the oil province of tomorrow
Iraqi Kurdistan, a siren song of a place with its 40bn+ barrels of untapped oil, continues to push smart people away even as it pulls them closer. For oil investors there, the tune goes something like, “Forget all the licensing disputes and political mess of today and yesterday … It will be sorted out tomorrow … The market demands it, political necessity demands it … And then there will be 40 billion barrels of oil and everyone will get rich”. This tune is starting to sound pathetic.
Heritage Oil today confirmed it plans to sell its Ugandan oil stakes to Eni for $1.5bn – it was applauded as a smart move for one of the best E&Ps in the business. But Uganda was less a part of the equation than Kurdistan.
Reliance to offer about $10bn for Lyondell
Scale of the bid highlights the growing confidence of Indian groups (FT)
Shell in talks to by 10% of Essar Oil
At current market prices, the stake would be worth $364m (Reuters)
Europe looks to lead green revolution
Future of manufacturing to revolve around green products (FT)
Lex: Fight to be eco top dog hots up
General Electric, Siemens and Philips have long been rivals (FT)
China Longyuan said to seek up to $2.3bn in IPO
China’s biggest wind power producer to sell 2.14bn shares (Bloomberg)
Business coalition calls for firm CO2 treaty
No action without a clear regulatory framework (FT)
Heritage to sell Ugandan fields to Eni
Deal worth about $1.3bn (FT)
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Insight into the financial, economic and policy aspects of energy and the environment.
