Monthly Archives: May 2011

Try as it might to outrun market forces, China’s decision to hike electricity prices from June 1 shows that even the mighty mandarins in Beijing cannot ignore basic laws of supply and demand. They finally flinched late on Monday, announcing a roughly 3 percent increase in power prices for non-residential users in a move to combat looming blackouts by stimulating more electricity production and discouraging consumption. Read more

Sylvia Pfeifer

Sylvia Pfeifer reports from “Gas City” or Doha, the capital of the state of Qatar. Located halfway along the Western coast of the Arabian Gulf, Qatar has been enjoying a construction boom fuelled by its hydrocarbon riches, in particular the world’s largest single gas field, the North Field. The field contains more than 900 trillion cubic feet of gas, equivalent to 150bn barrels of oil, or more than 10 per cent of worldwide gas resources.  Read more

In the corridors of Brussels’ elegant Stanhope Hotel on Wednesday afternoon, the well-turned-out movers-and-shakers of the European energy world were marvelling at the sizeable budget and high-profile guest list for the event they were attending. Read more

FT Energy Source

- Tullow pays $305m for Jubilee stake – FT
- Tullow bails out Ghana pioneers – The Telegraph
- Oil prices boost Lukoil profit – WSJ
- Sinochem ignores China-Norway spat – FT
- US and China pull oil market in opposite directions – WSJ
- Economies of MENA oil importers hurting, says IMF – Argus
- Eurotunnel to link France and UK electricity – FT
- Huge solar farm opens in France – The Guardian
- Germans attack BP, Shell for overcharging – The Telegraph
- Total seeks dismissal of Russian case – WSJ
- Tunisia tensions focus on British Gas plant – FT
- Coal India in talks to buy stake in Indonesian mines – WSJ
- Now Rothschild turns his attention to oil – The Times
- Japan seeks lea role in nuclear safety – WSJ
- G8 leaders want tougher nuclear safety rule – Reuters
- ACS soap opera set to turn heads at Iberdrola – FT
- Groups turn to carbon pricing to reduce US deficit – Argus
- Green groups take EU to court over biofuels – The Guardian Read more

Sylvia Pfeifer

The board of Tony Hayward’s new energy fund, Vallares, which will see the former head of BP return to British corporate life, is taking shape. George Rose, the former finance director at BAE Systems, the defence contractor, is in talks to take up the position of chair of the audit committee. Read more

Sylvia Pfeifer

It’s not often that you meet a life size polar bear on your way into work but that is what greeted staff at Cairn Energy in Edinburgh this morning. The Scottish oil and explorer is being targeted by Greenpeace as part of an ongoing campaign to stop the company from exploring in the waters of the Arctic off Greenland.  Read more

Kiran Stacey

I’m sad to say that after eight months of running Energy Source, I’m moving onto pastures new, to take up a position in Westminster as one of the FT’s crack team of political correspondents. You can continue to read my rantings (some may even be energy related) in the FT and on the Westminster blog. Read more

Hugo Chávez must be distraught. There’s nothing he loves more than to launch into spirited tirades against the “empire” (a.k.a. the USA), and now he has the perfect excuse: it slapped sanctions on Venezuela’s state oil company PDVSA for selling fuel to Iran. Read more

Sheila McNulty

As questions about hydraulic fracturing – fracking as it is known in the industry – continue to build, the oil and gas industry is finding investors asking for more transparency as to how companies are going to face the growing risks to production. Read more

FT Energy Source

- Shell chief Voser in Russian talks – FT
- Shell talks leave BP in shadows – The Times
- BP should return to gulf within a year, says Oppenheimer – Argus
- Arcadia denies oil manipulation- FT
- Chevron chiefs face shareholders after $18bn Ecuador fine – The Guardian
- Resource stock lead global rebound – FT
- Cairn India profit soars – WSJ
- Iran says Opec will try to fill crude gap – FT
- China luring crude from US – Bloomberg
- Investors urged to note opportunities in Iraq – FT
- Exxon says fracking is safe – WSJ
- Investors demand clarity on shale gas – FT
- Chevron shareholders defeat proposal on fracking disclosure – WSJ
- Second largest gas field found in Turkmenistan – The Telegraph
- North Sea tax rise will cost £12bn, industry warns – FT
- Bill allows US military to use high-carbon ‘liquid coal’ – NY Times Green blog
- Wind forecast upgrade should mean drop in fossil fuel use – The Guardian
- Total extends offer for SunPower – Reuters
- UK nuclear plants to undergo EU stress tests – The Telegraph
- Swiss propose an end to nuclear power – FT
- Europe divided over nuclear power – The Guardian
- Japan PM vows to boost renewable energy – Reuters Read more