Daily Archives: December 21, 2009

As Angola prepares to host an Opec meeting for the first time, the country has done its best to welcome fellow nations of the oil cartel – a new convention centre, a five starts hotel and villas for the ministers on the outskirts of the capital, Luanda.

The display of wealth – and the contrast with poverty elsewhere – could backfire, however. The country is Opec’s biggest buster of the cartel’s official production limits, something Luanda justifies on the grounds of its dire economic situation.

Angola, the group newest member, wrote a letter earlier this year to the Opec secretariat asking for exemption from current quotas on the ground that the African nation is grappling with the impact of a 30-year civil war which only ended in 2002. Read more

Sheila McNulty

Even as ExxonMobil was applauded this past week for finally plunking some real money down in the US natural gas scene, Royal Dutch Shell, which has long been in on the US gas play, made another move – this time into South Africa.

The South African Petroleum Authorities awarded Shell a Technical Cooperation Permit for a one-year study to determine the hydrocarbon potential in parts of the Karoo Basin in central South Africa. Shell will have the exclusive right to apply for exploration permits following completion of the study. This is being billed by Shell as a potential natural gas deal. Read more

Kate Mackenzie

Post-meeting coverage from FT Energy Source:

Key points in the Copenhagen accord

Climate experts’ forum: A disappointment, or a relief?

Europe falls into line

Post-meeting coverage from FT.com:

Business chiefs – especially Europeans – unhappy with deal

Q&A: Have environmental hopes been dashed?

Where will the money come from?

Analysis: A foundering forum

What the pundits say

Editorial: A dismal outcome

Comment: Not the season for giving for rich nations

Climate deal arms Obama for Congress fight

As it unfolded on Friday night/Saturday morning:

Full text of Obama’s statement and press conference after the meeting with China, India, Brazil and South Africa.

It’s meaningful but it’s only a start, says Obama

Copenhagen deal done? Brazil takes more cautious tone

EU says deal is NOT done

Copenhagen: Where it’s up to
 Read more