Daily Archives: March 21, 2011

Kiran Stacey

Over the past week, the oil price appears to have moved in sync with events in Libya. When Gaddafi looked close to quashing the revolution, prices dropped with the expectation that Libyan oil would start flowing again. Every time the rebels have been given a boost, oil prices have gone back up.

So last Tuesday, as pro-Gaddafi forces neared Benghazi, oil dropped 3.9 per cent. But when UN Resolution 1973 was passed on Thursday, it went up 3.5 per cent. It fell again after Gaddafi announced a ceasfire, but rose as evidence came in of his attacks on rebel-held towns. Today, as markets react to the concerted bombing campaign over the weekend, oil has continued to rise, taking Brent back over $115 a barrel.

FT Energy Source

Kiran Stacey

This morning’s clampdown by the UK regulator on the country’s big six utilities was unexpectedly hard-hitting.

Apart from the news that the companies may be forced to auction up to 20 per cent of their electricity generation output, there was the harsh tone struck by the regulator’s chief executive, Alistair Buchanan. He said:

Energy companies have failed to play it straight with consumers and so Ofgem is proposing to break the stranglehold the Big Six have over the electricity market.

FT Energy Source

- Industry thrown into turmoil

- Companies feel effects of Macondo disaster

- Opportunities west of Shetland

- Ice thaws on Canadian oil sands projects

- Huge prize lies under pristine Arctic wilderness

- Shale extraction technology leads to oversupplied market

- Two different disasters will have profound effects on US energy policy

- UK suffers from legacy of North Sea gas abundance

- Plant power seen as only viable long-term alternative to petrol

FT Energy Source

You can follow live coverage of the attacks on Libya here.

- Coalition air strikes rein in Gaddafi – FT

- Libya strikes raise risks of oilfield shutdowns – Bloomberg

- Supply fears spark renewed oil price surge – FT

- Oil companies fear nationalisation in Libya – FT

- Kan: nuclear situation gradually getting better – WSJ

- Fire at Japan’s Chiba refinery finally out – Argus

- Nuclear sell off sweeps to uranium mining – FT

- Japan will need to rethink its nuclear policies – FT

- China leading the way on safe nuclear – The Telegraph

- Hard to avoid nuclear power – FT Lex

- Gas will gain from nuclear negativity – The Telegraph

- Ofgem announces ‘radical’ review of energy prices – BBC

- IBM and C&W team up on smart meters – FT

- Solar firms attack plan to switch funding – The Times

- Government betrayal over solar subsidy – Jeremy Leggett, The Guardian

- Wind power and wanderlust – FT

- More EU carbon registries to restart – Argus

- Germany sees need for huge push to widen power grid – Reuters

- Madagascar Oil to freeze contracts – FT

- Israeli oil is about to have the last laugh – The Times

- Dominion wins Kenyan blocks – FT

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