This has been a busy week for US natural gas. It started off with the US signing an agreement to help India exploit its shale gas resources during President Barack Obama’s visit to that country. The agreement mirrored one the US had signed with China some time back to also help that country make the most of its shale.
These are both striking agreements because they demonstrate that other countries see tremendous potential in natural gas. And yet the US government has failed to appreciate the expertise and experience that launched the global shale gas scramble is in its own backyard. The US gas boom has generated so much capacity in America that prices have collapsed. Read more
Opec today raised its predicted level of oil demand for 2011 from 86.83m barrels per day to 86.95mbpd, an increase of 120,000.
Interestingly, this comes out a few days after the IEA released its World Energy Outlook, showing its predictions have gone in the opposite direction. Read more
An intriguing story by Sky’s (and the FT’s) Mark Kleinman this morning, who is following the UK prime minister in China.
Mark reports that Shell is planning to list its shares on the Shanghai stock exchange, and has even appointed China International Capital Corp to help it do so. Read more
The European Court of Justice has ruled that it is illegal for the Portuguese government to hold shares with special rights in Energias de Portugal. Read more
- Eon plans asset sales and expansion – FT
- Eastern promise threatens British energy revival plan – The Times (£)
- Investors must be patient with Eon – FT Lex
- Pledge to lift EU energy barriers – FT
- White House editing caused drilling ban dispute – NY Times Green blog
- Tullow halts drilling in tax dispute – The Times (£)
- Oil services feel post-Macondo activity jump – FT
- EPA releases guidance for GHG permits – Argus
- SSE defers gas storage venture – FT
- EU biofuels growth on hold as green benefit queried – Reuters
- Glastonbury installs UK’s largest private solar power plant – The Guardian Read more