Daily Archives: December 13, 2010

General Electric is paying $1.3bn for British pipeline-builder Wellstream, in a move to increase its exposure to Brazil’s oil industry. GE’s oil and gas arm already works alongside Brazil’s state-controlled giant Petrobras, the company that provides much of Wellstream’s revenues; now it can access Wellstream’s know-how and contracts, for a price moderately below what Wellstream was demanding. Read more

Kiran Stacey

[huhne] Many thanks for all your questions for Peter Voser, Shell’s chief executive. His answers will appear on this site on Friday, December 17th.
Next week, the person in the hotseat will be Chris Huhne, the UK energy secretary. The government will shortly begin consultations on how it should reform the electricity market. This is your chance to ask him about anything electricity-related: from whether and how the UK can reach its emissions and renewables targets, to the role of nuclear power and whether it can thrive without government subsidy, to how customers can get the fairest deal possible.
 Read more

Fiona Harvey

Against expectations, the Cancun climate change conference came up with a deal. Not a full, comprehensive deal. Not a legally binding treaty. Not a perfect deal. But a compromise that represents real progress compared with the entrenched positions that negotiators have held for more than a decade. Read more

Kiran Stacey

FT Energy Source

- Cancun a ‘beacon of hope’ for climate deal – FT
- Agreement rescues UN credibility – The Guardian
- Climate talks might need a profit motive – Gerard Wynn, Reuters
- New York governor vetoes fracking bill – NY Times Green blog
- GE agrees Wellstream deal – FT
- Petrobras bids for stake in ethanol firm – Reuters
- China taps into Argentina’s oil prospects – FT
- Occidental sells off Argentine venture – FT
- NZ disaster mine goes into receivership – The Times (£)
- Regal Petroleum urges £77m sale – FT
- Loss of US renewable energy grants loom for developers – WSJ (£)
- Coal future is burning hot – just not in Britain – The Telegraph
- Low-carbon blueprint for £200bn investment drive – The Times (£)
- Germany invests $10m in climate adaptation – Argus
- Opec sees no need for output change – FT Read more