Monthly Archives: September 2010

Kiran Stacey

The energy industry continues to pore over the shake-up to BP’s safety division, which was announced yesterday, just two days before Bob Dudley takes over as chief executive.  Read more

FT Energy Source

- M&A deals soar as shale gas fever hits – FT
- Cheap gas limiting coal demand in the East – Argus
- BP’s safety plan takes a page from Exxon’s playbook – Fuel Fix
- Sinochem struggles to mount Potash bid – FT
- ABB pays $58mfine over bribery claims – FT
- Cuba drilling plans raise Gulf fears – New York Times
- Fresh blow to Vedanta’s green credentials – FT
- Companies demand £4bn for Green Bank – Reuters
- Thinking small on wind power – NY Times Green blog
- Australian regulator looks to pursue petrol retailers – Bloomberg
- Gas bills could jump by £80, warns Ofgem – The Telegraph Read more

Our apologies, but there will be no podcast this week.

Kiran Stacey

Want £100,000? All you have to do is come up with a way of getting engineers and equipment out to the wind farms of the future. Read more

Kiran Stacey

There is something of a clean up (if you’ll forgive the pun) going on at BP.
Yesterday the company sold $3.5bn worth of bonds, with demand high and the 5-year tranche being priced at a respectable (if sector-lagging) 195 bps over US Treasuries. The renewed confidence from the credit markets has helped the cost of insurance on its debt fall to 191bps from a high of 614bps in June. Read more

Russian President Dmitry Medvedev and Chinese President Hu Jintao toastDmitry Medvedev, the president of Russia, is in China this week for talks aimed at cementing a new partnership between the world’s biggest energy producer and consumer.
But China, despite its hunger for new oil and gas supplies, is playing hard to get.  Read more

FT Energy Source

- Shell plans rapid North American growth – FT
- BP raises $3.5bn in bond sales – FT
- Obama under fire for underestimating oil spill – The Guardian
- BP repairs Russian relations – New York Times
- Germany to wean itself off fossil fuels – FT
- Democrats block debate on greenhouse gas bill – Argus
- Schwarzenegger slams climate law repeal – NY Times Green Blog
- Lawmakers urge Obama to challenge China on clean energy – Reuters
- Are wind power and ethanol really green? – Master Resource
- Energy efficiency does not decrease consumption – Breakthrough Institute Read more

Sylvia Pfeifer

It’s a return to business as usual for BP. The UK oil group is raising more than $2bn in its first bond sale since the Deepwater Horizon accident in the Gulf of Mexico on April. The company’s last significant sale was last August when it raised $2bn. Read more

Sheila McNulty

The James A Baker III Institute for Public Policy released a major study yesterday on the consequences of an emerging US carbon management policy. There are lots of strands in the report to be picked over. The one I found most interesting was that electric cars hold greater promise than establishing a national Renewable Portfolio Standard (RPS) in reducing carbon emissions and lowering US oil imports. This is from the report:

The single most effective way to reduce US oil demand and foreign imports would be an aggressive campaign to launch electric vehicles into the automotive fleet. In fact, mandating that 30 per cent of all vehicles be electric by 2050 would both reduce US oil use by 2.5m barrels a day beyond the 3m barrels-per-day savings already expected from new corporate average fuel efficiency standards, and also cut emissions by 7 per cent, while the proposed national renewable porfolio standard would cut them by only 4 per cent over the same time.

This finding underlines the potential for the US to make good use of its natural gas boom to supply this growth in electricity usage. Read more

FT Energy Source

- EDF reconsiders Constellation agreement – FT
- Offshore wind farm costs ‘rising sharply’ – The Times (£)
- GE moves into China wind turbine market – FT
- Scotland to get 100 per cent green energy by 2025 – Reuters
- Conoco to reassess $30bn Alaska project – FT
- Shell increases trade with Iran – The Guardian
- Panel wants BP fines to pay for Gulf restoration – NY Times
- US drilling moratorium to end ‘by December’ – Upstream Online
- Russia and China open pipeline as energy ties grow – Argus
- Eni, Mitsubishi to bid for Iraqi gas field rights – Bloomberg
- Camco joins forces with Malaysian government’s investment arm – The Telegraph Read more