Daily Archives: March 23, 2011

Kiran Stacey

George Osborne reiterated today the UK government’s “determination to be the greenest government ever”. But given what we already knew, most of the new information contained in Wednesday’s Budget is set firmly against that agenda. Read more

Vladimir Putin has been regaling TV viewers with his memories of the good old Soviet days when electricity was cheap and Russians paid their utility bills on the nail. But fond stories from the Russian prime minister’s past may just rub salt in the wounds of his people as a sharp increase in energy prices kicks in. Read more

Kiran Stacey

George Osborne, the UK chancellor, has just announced his tax measures for the next year, and the biggest surprise came with a cut to fuel duty, to be funded by extra charges on oil and gas companies if the oil price remains over a certain price somewhere around $75 a barrel. The supplementary charge for such companies will now go from 20 per cent to 32 per cent. Read more

BP has continued its disposals process, announcing the sale of a natural gas processing plant to Anadarko Petroleum for $575.5m.

Although the divestment was first announced at the end of 2009, the proceeds will add to the UK oil group’s efforts to raise up to $30bn to help meet its financial obligations in the wake of last year’s Gulf of Mexico spill. BP has already raised more than $20bn over the past year.

Kiran Stacey

Shell said last week that this year was the “year of delivery” in tis three year plan to boost profits and growth.
It took a big step towards that on Wednesday when it announced that gas was now flowing into the Pearl gas-to-liquid plant in Qatar. Read more

FT Energy Source

- Japan wrestles with crippled reactors – FT
- Tepco hopeful about restarting nuclear reactor pumps – Argus
- Japan nuclear firm admits missing safety checks – The Guardian
- Fuel storage, safety issues vexed Japan plant – Reuters
- Critics take aim at Japan’s nuclear optimists – FT
- Japanese banks mulling Y2 trillion financing for Tepco – WSJ
- Japan earthquake may force up cost of UK nuclear – The Telegraph
- NRG CEO: Slashing loan guarantees would crippled nuclear – WSJ
- US nuclear safety in spotlight – FT
- Disruption in Japan slows rise in oil price – NY Times
- Cost of low-sulphur crude soars – FT
- What next for the oil price? – The Telegraph
- Exxon wins Gulf deepwater drilling permit – Argus
- UK uneasy over offshore oil, gas disaster plans – Reuters
- Cairn Energy hopeful of Indian assets sale – FT
- Qatar asked ExxonMobil and Shell for donations – The Telegraph
- EPA bears the brunt of Republican ire – FT
- Budget 2011: The green announcements to watch for – The Guardian Read more