Elsewhere this Wednesday:
- Rewarding results: how should we support the development of renewables?
- Iran and the Philippines: Mixing oil with bananas
- Fresh capital in the uranium fuel race
- Mafia cash in on EU wind farm handouts
- UK wind power hits record generation output – Reuters
- Crude oil caught in a ‘stalemate’ between $70 and $75 – Bloomberg
- Transneft risks downgrade on sale as bonds decline – Bloomberg
- BP brings failed blowout preventer to surface for tests – Bloomberg
Elsewhere this Friday:
- China sustains blunt ‘you first’ message on CO2
- Facebook loses friends over coal power
- Inuit Circumpolar Council: “We are tired of being told by Greenpeace what to do and what not to do”
- German military study warns of potential energy crisis
- Heat, not smart meters, hiked bills in California, report says
- Mariner blast may extend deep-water drilling ban – Bloomberg
If you thought a deal worth $39bn would satisfy even the most acquisition-happy chief exec, you’d probably be wrong in the case of Marius Kloppers.
BHP Billiton’s chief exec is thought to be looking at a major oil and gas acquisition while at the same time working on the multi-billion deal to buy Canada’s Potash Corp, according to a story in The Australian on Thursday.
The paper quotes an unnamed “senior figure in the global energy industry” who is “convinced” that Anadarko Petroleum Corp is on BHP’s radar.
The company, with a market capitalisation of $25bn, is an appealing but tricky acquisition target. On the one hand it’s shares have seriously suffered since BP’s Macondo well explosion (Anadarko has a 25 per stake in the project) resulting in a more attractive valuation. But, also due to the Macondo disaster, it is now facing an estimated fine of up to $2bn.