Energy Source

Korea National Oil to buy Canadian oil group for $3.9bn
Korea competing with Asian neighbours for overseas assets (FT)

China and India join forces to resist carbon caps
Aligns effort to tackle climate change for 5 years (FT)

EU eyes ships and aircraft for climate deal
First time under EU plan to be proposed at Copenhagen (FT)

Total warns UK on green taxes
CEO says may need additional incentives to develop riskier fields (FT)

Onward to a hybrid future at Toyota
Group vows to build hybrid versions of all its vehicles (FT)

Guarded welcome for Niger delta oil initiative
Government hails plan as ‘revolutionary’ (FT)

Husky Energy profit plunges on lower prices for oil and gas
Third-quarter profit declines 33% year on year (Bloomberg)

Iberdrola profits slide 18% year-on-year on weak power prices
Spanish group positive over US renewable energy business (FT)

Plan for Europe’s largest gas storage site given go-ahead
Bergermeer facility to contribute to European energy security (FT)

Merkel’s return to power boosts nuclear industry
Chancellor to demand state gets share of profits (FT)

VW’s bold design to give power to the people
Carmaker starts to build miniature power generators (FT)

EDF to sell off UK electricity distribution arm
Hopes to attract offers in excess of €4bn (FT)

Nigeria’s Oando to develop Ghana’s natural-gas sector
Project is worth US$1bn (Reuters)

Editorial comment: US Senate climate bill

CIC buys stake in Kazakh oil and gas group
Investment is third in natural resources in last week (FT)

US climate bill faces stiff Senate opposition
Agreement unlikely before Copenhagen summit (FT)

US companies at odds over green lobbying
Several energy firms quit trade groups (FT)

Oil’s sideways trend points to $70 breakout
NAB analysis shows oil prices to rise (Bloomberg)

China seeks big stake in Nigerian oil
CNOOC in talks over one-sixth of reserves (FT)

Nigeria feels pull from east and west
Beijing seeks oil, but western groups won’t roll over easily (FT)

Climate negotiators warn time is running out
Deep divisions remain ahead of Copenhagen summit (FT)

Election boost for German power companies
Shares of Eon and RWE are biggest gainers (FT)

India steps out of shade on solar power
Gujarat state to build world’s largest solar power complex (FT)

Insurers targeted in Iran sanctions push
Removal of cover seen as way to hurt Tehran (FT)

Clean tech investments soar worldwide in third quarter
Greentech report says increase driven by solar power (Reuters)

BP fails to comply with safety standards
Company still falls short 4 years after US refinery accident (FT)

Proglio move to EDF leaves Veolia conundrum
Board to decide on its future structure (FT)

India to launch energy-efficiency trading
Also plans fuel-efficiency standards for transport sector (FT)

Veolia’s Proglio set to be new head of EDF
France hopes to nominate foreign directors to board (FT)

China official warns of ‘too fast’ nuclear plans
Top energy planning official cites safety concerns (Reuters)

UK’s Centrica carbon head downbeat on Copenhagen
Sceptical US will sign climate-change deal (Argus Research)

G20 agenda hijacked by global warming
Shift reflects fears over Copenhagen (FT)

Jakarta policies reveal pitfalls of fuel subsidies
Indonesian president to open G20 talk on subject (FT)

Editorial: An idea whose time has come
Scrapping fuel subsidies will help the poor and the world (FT)

Lex: Global warming (FT)

Commodity index considers benchmark excluding US prices
Proposed move is in response to US regulatory clampdown (FT)

Cut in floating storage puts short-term cap on oil prices
Structural shift halves crude held in tankers (FT)

Russia seeks investments in Yamal gas fields
Putin convenes meeting with 10 energy companies (FT)

US utilities pledge switch to electric vehicles
Promise to convert to plug-in hybrid or all-electric by 2020 (FT)

GM to build electric car with Reva of India
Vehicle to be sold in South Asia (FT)

DNO works to salvage Kurdish venture
Still reeling from authorities’ threat to cancel export licence (FT)

Naftogaz fate hangs on $500m eurobond offer
Ukrainian company critical to Europe’s natural gas supply (FT)

Slumping energy demand has bottomed, Energy Capital says
CEO says forward and spot prices are at lows (Bloomberg)