Daily Archives: June 25, 2010

FT Energy Source

By Joe Leahy in Mumbai

In its press release announcing it will invest up to $1.36bn in a partnership with Pioneer Natural Resources of the US, Reliance Industries mentions that its annual revenue is $44.6bn.

The point immediately raises the question of why India’s largest private energy group is spending so much management time on buying up stakes in non-conventional shale gas deposits, such as Pioneer’s Eagle Ford field in Texas.

Why is Reliance not going for the jugular and picking up bigger, more conventional assets?

James Fontanella-Khan

Judge rejects hold on drilling ban decision - FT

BP team gains a US of A leader - FT

Green group defends exec’s role on oil spill commission - The Hill

Caribbean storms may disrupt BP’s spill cleanup - Bloomberg

Temperature rises over Berlin’s nuclear tax proposals - FT

BP chief moves to assure staff that worst is over – FT

Oil majors rethink links with BP - FT

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