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Audio ENRC, Cairn Energy, UK prices
In this week’s podcast: ENRC, the FTSE100 miner implodes; Greenpeace continues its campaign to kick oil companies out of the Arctic; and, energy prices in the UK.
Presented by Sylvia Pfeifer with William MacNamara, Chris Thompson in Greenland and Adam Scorer from Consumer Focus
Produced by LJ Filotrani
It’s been a fortnight of corporate comebacks for former BP executives. First out of the blocks was Tony Hayward, the former chief executive of the UK oil group, with the launch last week of his energy fund, Vallares. And this week, Andy Inglis, his former colleague who used to run BP’s exploration and production arm, made his first public appearance in front of City investors in his new job at Petrofac, the oil and gas service provider. Both men left BP last year in the wake of the Gulf of Mexico spill.
As head of BP’s upstream business based in Houston, Texas, Mr Inglis was in charge of its exploration activities at the time of the gulf accident. He resigned from the board of BP after Bob Dudley, who took over as chief executive officer from Tony Hayward after the accident, initiated a wholesale restructuring of the upstream division.
Mr Inglis heads Petrofac’s new Integrated Energy Services division which brings together the company’s solutions, energy developments and training services businesses. The division is focused on so-called ‘resource holders’ or national oil companies that own small and medium-sized undeveloped fields. Unlike other service companies, IES will not only provide straight-forward services such as engineering and construction but, where appropriate, it will also provide capital.
A ban on traditional wood burning stoves and stopping leaks from long distance gas pipelines are among measures that could help slow global temperature rises in coming years, a group of leading atmospheric scientists has found.
Such measures would curb so-called black carbon, a major component of soot, and ground level ozone, a big part of urban smog, says a new study coordinated by the United Nations Environment Programme and World Meteorological Organisation.