Daily Archives: August 20, 2010

Sheila McNulty

The oil spill and resulting moratorium and tighter regulations on the oil and gas industry may now be a drag on the US gulf coast region, but analysts say the longer-term impact is likely to be new business. Indeed, several already see the need for their expertise in the region. Read more

Could it be that nobody in the US wants gasoline anymore?

On Wednesday, John Kemp of Reuters observed how the combined stock of crude oil and refined products in commercial storage around the US had surged to 1.130bn barrels — the highest level since weekly records began in 1990.

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FT Energy Source

South Korea’s national oil company on Friday launched a landmark £1.87bn hostile takeover offer for Dana Petroleum, after shareholders owning almost half of the UK oil explorer offered their support.  Read more

Sheila McNulty

ExxonMobil said earlier this week it was giving up its attempt to get a stake in the Jubilee field that has been touted as a game-changer for Ghana. The share purchase agreement with Kosmos Energy had emerged last October, but it was met with fierce opposition by the Ghanaian government, which had been left out of the $4bn venture. Read more

Masa Serdarevic

Elsewhere this Friday:
- The curious case of the missing climate pledge
- Gulf oil spill: “Probably the most notorious branding crisis in memory”
- InterOil (IOC) is running on fumes, says Whitney Tilson
- Climate change: Capitalism is our best defense
- Harnessing energy from an exploding lake Read more

Masa Serdarevic

- Dana targeted for hostile bid – FT
- Cnooc banks on acquisitions and China oil output for growth as profit doubles – Bloomberg
- PotashCorp chief in line for $370m – FT
- Petrobras may delay $25bn share sale – Bloomberg
- China chiefs split top roles in push for board independence – FT
- Three shale gas firms for sale – WSJ
- Final BP well plug delayed until September – Reuters
- Essar Energy eyes overseas acquisitions – FT
- Japan to subsidize energy-efficient plants – Reuters Read more