Monthly Archives: January 2011

Kiran Stacey

It was bound to happen at some point. Today, four weeks into the new year, Brent crude did what it hasn’t done since 2008: topped $100 a barrel. Read more

ExxonMobil, the world’s largest private sector oil company by market capitalisation, has beaten analysts’ expectations with a 46 per cent rise in earnings per share to $1.85 for the fourth quarter of 2010, helped by the rise in prices for oil and petrochemicals. Read more

My former colleague Fiona Harvey revealed last October that Chris Huhne’s plan for a green investment bank was being thwarted by Treasury officials, who wanted it to be more like a fund. Then in December Mr Huhne let the cat out of the bag in public when he admitted that the Treasury had won the battle and the new entity probably wouldn’t have the powers to issue bonds*.

Without leverage, the fund will only have £1bn to spend (plus £1bn from asset sales) rather than the £4-6bn demanded by the renewables industry.

 Read more

Kiran Stacey

Many thanks for all your questions for James Cameron, vice chairman of Climate Change Capital. His answers will appear on this site on Friday, January 28th.
Next week, the person in the hotseat will be Josh Fox, the Oscar-nominated director of the film, the entire natural gas world is talking about: Gasland. Read more

Kiran Stacey

- BP partners seek block on TNK-BP dividend – FT
- Oligarchs turn up heat over BP deal – The Times (£)
- Oil companies plan new safety body – FT
- Cnooc strikes second US shale deal – FT
- Rising oil price threatens recovery – The Times (£)
- Suez Canal traffic normal, says operator – Bloomberg
- Alpha agrees to buy Massey for $8.5bn – FT
- AEP’s earnings decline by 26% – WSJ (£)
- EU says spot carbon market may open this week – Bloomberg
- Treasury sees red at Huhne green bank – FT
- Environmental stealth tax may be scrapped – Sunday Telegraph
- Electricity industry warns over reforms – FT
- Government to develop ‘Silicon Valley’ for marine energy – The Telegraph
- Investors tap Scotland’s renewable energy – FT
- New York floats new rules for cleaner heating oil – NY Times
- REG shares up 30% after rejecting takeover – FT Read more

Speculation about the potential closure of the Suez canal is mounting on Friday, probably the reason that WTI prices are heading higher. Read more

Sheila McNulty

ExxonMobil has made some interesting – if not surprising – forecasts in its annual Outlook for Energy, in which it projects long-term energy trends. The report is not just what Exxon hopes will happen but rather based on detailed analysis of 100 countries, 15 demand sectors and 20 fuel types. Read more

Sheila McNulty

The strong profits for the fourth quarter of 2010 reported by ConocoPhillips underline just how much its efforts to slim down and focus on organic growth are paying off. Indeed, the results are so good that the strategy is something other companies might want to consider. Read more

Kiran Stacey

In this week’s readers’ Q&A session, Ian Simm, chief executive of Impax Asset Management, answers your questions.
Below, he discusses impediments to biofuels, EU support for Chinese renewables and gas’ future as a clean energy source. Read more

FT Energy Source

- BP faces legal challenge to Russian bid – FT
- Rosneft strikes oil deal with Exxon – The Times (£)
- Dispute looks set to end up in UN mediation – The Telegraph
- Fridman lawsuit shocks Moscow – FT
- BP might be best to buy out AAR – FT Lex
- Europe extends carbon market freeze indefinitely – The Guardian
- Exxon forecasts 35% global energy demand growth by 2030 – Bloomberg
- Court clears OMV chief of insider trading – FT
- Iberdrola to invest $365m in Mexico projects – WSJ (£)
- ConocoPhillips, GE, NRG to form joint venture – Argus
- Oil and gas companies exposed to Egypt – The Telegraph
- Smart investors are avoiding WTI – FT Short View
- Green investment bank: Not green, not a bank – Caroline Lucas, The Guardian
- Obama green job vision faces challenge from abroad – Reuters
- Dealing with an overflow of solar energy – NY Times Green blog
- Game of two halves for Eaga – FT Read more