Daily Archives: May 17, 2011

Sheila McNulty

The amount of private equity moving into the US oil and gas sector has risen dramatically over the past year, drawn by a long-term bet on rising commodity prices and heightened demand for energy infrastructure. This is according to PwC, the consultancy, which put out a report on US energy sector deals today.
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BP shareholders breathed a sigh of relief on Tuesday on the collapse of the Rosneft deal talks, with the stock climbing over 1 per cent. Read more

Sheila McNulty

The big question for months has been what would happen if there was a significant spill in the deepwaters outside of the Gulf of Mexico. Following BP’s Macondo disaster, the industry worked together to build two spill response systems for this area. But nobody said what would happen if a deepwater disaster unfolded in the waters offshore Ghana or Brazil.

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BP‘s bid for a strategic alliance with Rosneft, the Russian state oil champion, collapsed on Tuesday after the UK oil group failed to reach agreement to salvage its $16bn share swap before a midnight deadline expired. Read more

FT Energy Source

- Deadline expires for BP-Rosneft deal – FT
- Why BP’s Russian deal collapsed – Robert Peston, BBC
- Petrobras first quarter profit exceeds estimates – Bloomberg
- ExxonMobil defends right to Nigerian upstream blocks – Argus
- Supply factors could still support crude – FT
- Poorest will suffer most from lasting high oil price – The Times
- Ministers divided over remit for green bank – FT
- Cameron backs Huhne over lie allegations – FT
- Japan says reactor woes won’t delay cleanup – WSJ
- Sasol expects quake to push up gas prices – FT
- Natural gas trucks face long haul – WSJ
- Wood Group plans £1.05bn share buy-back – FT Read more