Daily Archives: January 20, 2011

Kiran Stacey

As is becoming tradition with diplomatic affairs  around the world, the Nordic-Baltic summit hosted by David Cameron over the past few days has brought with it announcements of new commercial deals.

On this occasion, it is the energy expertise of the northern European countries that the UK is keen to tap. Cameron announced on Thursday that both Vatenfall and Vestas will be creating new jobs in Britain.

Vantenfall will set up a new HQ in London, employing 50 people. The Swedish energy producer already runs Thanet, the world’s biggest offshore wind farm, located off the Kent coast, and said on Wednesday it wants to develop another massive farm in the North Sea. A London HQ seems a natural step given this level of investment, and could quickly grow from 50 people.

Concerns are mounting that $100 oil prices, if hit, could be enough to dislodge the precarious global recovery — thrusting the world economy back into recession, or even worse, into another global financial crisis.

But while that is certainly a legitimate worry, there may actually be another equally pressing one rearing its ugly head too.

We’re talking about what happens if volatility in the WTI-Brent spread doesn’t settle.

FT Energy Source

- Iberdrola set to buy Brazil’s Elektro – FT

- Oligarchs threaten legal battle with BP – The Times (£)

- Full speed ahead on deepwater drilling – NY Times Green blog

- European carbon market suspended over fraud fears – The Telegraph

- Gazprom rejects further gas price concessions – Argus

- China power generation increases 13% – Bloomberg

- National Grid shares fall prior to US price ruling – The Telegraph

- CME eyes bigger Brent oil market share – FT

- ExxonMobil warns emissions will rise 25% in 20 years – The Guardian

- Mongolia makes tracks to escape neighbour – FT

- US to list loan guarantees for biomass plants – Reuters

- Solar firms frustrated by permits – NY Times

- Wind power brings new jobs to Humberside – The Times (£)

- Clean tech arrives, with limited payoff – WSJ (£)

- BP Energy Outlook offers comfort – FT Lex

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