Kate Mackenzie Spot news

Exxon CEO’s bonus cut by 40%
Tillerson’s base salary rises to $2.2m (FT)

Tullow considers buying Heritage’s Ugandan blocks
Must decide whether to pre-empt sale of assets to Eni (FT)

Total to invest $18bn next year, seeks new partnerships
French major to work more closely with China, Russia, Brazil (Bloomberg)

SMX secures regulatory approval
New Asian commodity derivatives exchange gets go-ahead (FT)

E-mail flap prompts UK scientist to stand down for now
Head of CRU to stand aside temporarily; independent review pending (Bloomberg)

Brazil wants limit on use of tropical trees for carbon credits
Shifts stance slightly on forest protection offsets (Bloomberg)

Martin Wolf: Climate change must be the end of the beginning
The three criteria for an effective agreement (FT)

Australian ETS rejected in Senate
Government tight-lipped on triggering election (ABC)

The dilemma of the developed world
Even cycle-friendly Denmark is grappling with how to reduce transport emissions (FT)

OTC Global Holdings to open London office
Big US commodity broker to challenge Icap, PVM and Spectron (FT)

No surprise ending in the Areva T&D pantomime
Win for home-grown bidders (FT)

Lex: Alstom & Schneider/Areva
Economic patriotism 1. Shareholder value 0. (FT)

German grid forum to boost integration of renewables
Diverse group of power companies and associations sign up (Argus)

Technology ‘must drive emissions cuts’
Interview with new BP chairman (The Times)

Brazil’s  ANP authorises pre-salt oil drilling by Petrobras
First well under new government plan (Dow Jones/WSJ)

Big utility to close 11 coal plants
Betting on gas prices staying low (New York Times)