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On Wednesday evening, without fanfare or explanation, Nigeria’s acting president Goodluck Jonathan fired the entire cabinet. The reason is clear: feuding and dysfunctional, he regarded the cabinet as an impediment to his stated aim of wholesale reforms. For ExxonMobil, Chevron, Royal Dutch Shell and the other energy groups who rely on Nigeria for significant chunks of their revenues, the biggest question now is what changes are in store at the petroleum ministry and the national oil company. Read more
Australia’s natural gas plans are proving a boon to a country as the bid drama over Arrow Energy, most recently, highlights. But the strength of the export boom risks overwhelming domestic access to the country’s natural gas bounty, including for other segments of Australia’s commodities sector. Read more
Opec’s March meeting came and went this week, with hardly a batter of an eyelid from the global marketplace. Nevertheless, there was one interesting observation made during the gathering that we thought was worth highlighting (H/T Chris Cook). Read more
As an industry still largely in its formative years, you would have expected clean energy to have had a rough time of it over the past 18 months. But clean tech patents – admittedly only a rough indicator of industry sentiment – suggests a more confident picture. Read more
Dow Jones claims to have uncovered some serious shortcomings in the widely-watched weekly oil storage data published by the US’ Energy Information Agency.
The methodology is too dated for today’s complex futures markets, the data is entered manually and difficult to check, and it is not adequately secured, according to the report, citing a report commissioned by consultants SAIC, and internal EIA emails obtained under the Freedom of Information Act. How important is the flaw – and how are markets likely to react? Read more
As lawmakers increasingly wake up to the benefits of the US’ onshore boom in natural gas, it is only natural environmentalists will find it easier to have their concerns on the subject heard, as well. Indeed, it seems they have made significant inroads, with the US Environmental Protection Agency announcing a comprehensive examination of the safety of hydraulic fracturing. Read more