Corporate news

Energy news from the FT:

- Gazprom to cut costs and production
Russian group plans to reduce foreign borrowing

- Court of Appeal attacks British Gas
Utility companies could face a deluge of lawsuits

- Eon to cut costs after charges of €3.3bn
Utilities are being hit by the economic crisis

- Power generators suffer shock to the system
Industrial companies cut back on electricity consumption

- De Beers cuts production as it loses its sparkle
Diamond demand hits rough spot

CERAWeek: Terry Hallmark of IHS forecasts $43 a barrel for 2009 (Houston Chronicle)

High winds slash Spain’s energy costs as wild weather hits southern Europe (Guardian)

Does pricey gas make cars safer?

Does a big economy need big power plants? Amory Lovins on networked energy (Freakonomics)

Why China should not have to cap its carbon emissions before 2015, and the conditions necessary to achieve it (China Environmental Law)

How much renewable energy do we use? (EIA)

Introducing… the Philippe Starck home wind turbine (Luxist)

Is there anything they aren’t doing? The Google PowerMeter (Google)

- Crude rises as US stimulus package may lead to lower dollar (Bloomberg)

- El-badri says Opec should wait for 100% compliance before considering new measures (Platts)

- UTS rejects Total offer (Reuters)

- Italy’s Eni signs 3 deals with Angola’s Sonangol (Reuters)

- OPEC to cut output at price below $40, Khelil says (Bloomberg)

- Nymex’s Brent share doubles as traders shun banks (Bloomberg)

- Gazprom set to cut output in downturn (WSJ)

- Gazprom gets license for four blocks offshore Vietnam (Platts)

- US urged to save forests to curb climate change (Reuters)

- Iraq considers $200m plan to reverse oil-output decline (Platts)

- Scientists plan emergency summit on climate change (Guardian)

Energy news from the FT:

- BG’s bid turns up heat with rival Shell
Group makes A$796m offer for Pure Energy

- Opec steps up threat of output reduction
Cartel member tells FT that ‘further action’ is possible

- Rio Tinto chief leans towards Chinalco deal
Boardroom split at the indebted mining group

- Trading in Chinalco shares suspended
Move follows senior management reshuffle

- Lex: Rio Tinto
Mining group wedged itself into a hole

- Donors press Congo over $9bn China deal
China’s biggest investment in Africa under pressure

- KIA rethink on Dow Chemical deal
Kuwaitis to back Rohm & Haas move

- Bullion sales hit record in rush to safety
Investors are buying record amounts of gold

- Randgold upbeat on cost outlook
Mining costs are likely to fall

- Anglo Platinum scraps final dividend
Group plans 10,000 job cuts

- Markey pushes climate change legislation
Pressure to rise ahead of Copenhagen summit

- The super-cycle isn’t over yet
Francisco Blanch, head of commodities at BoA, on the credit crisis

Coal won’t be replaced anytime soon: “The idea that solar, wind and other sources can immediately replace coal is a fallacy; it would take years for us to replace coal plants with a mixture of nuclear, solar and wind power plants.” (SeekingAlpha)

Opec’s final humiliation: Production levels may even rise this year from Canada and Mexico. “Who ever expected that the Canadians would become the greatest threat to Hugo Chavez?” (247WallSt)

An energy boomtown goes bust: “It was like the difference between night and day,” in Parachute, Colorado

Koch Supply and Trading books a supertanker for six months to store 2bn barrels of crude off the coast of the Emirates (The National)

Maybe there are ways to create the perfect energy source: safe, low cost, abundant and usable by humans for the sake of humans. But we don’t know whether that is possible within the physical laws of our universe.” (The Oil Drum)

Cap and trade or tax? The World Resources Institute argues for the former in a Q&A

Speedbumps to generate power for streetlights (Guardian/Observer)

China begins work on 12th 5-year energy plan covering 2010 – 2015 (China Environmental Law)

Total’s UK workers vote to end strike (Reuters)

Oil prices little changed by larger than expected inventory rise (Bloomberg)

Petroplus may sell Teesside refinery after poor results (Bloomberg)

Petrobras sells $1.5bn worth of 10-year bonds (Bloomberg)

Tankers concerned at new EPA vessel permits (Platts)

Democrats target Bush administration’s energy ‘midnight regulations’  (Platts)

GDF Suez and Iberdrola team up on bid for UK reactor land (Platts)

India to offer 100 oil exploration blocks  (Platts)

Repsol says plans €1.5bn in cost-savings (Reuters)

British Energy to return reactors to service (Reuters)

Rio Tinto in asset sale talks with Chinalco

Survey sparks EU probe into power market

Carbon price fall bad for green investment

Tide on the rise for wave generation

Editorial: By leaving markets, food importers make things worse

US – half of US refining capacity could be affected by a strike as contract ends this weekend

UK – workers at all three of the country’s refineries walk off job over Total’s use of an Italian contractor; no sign of disruption to supplies

Nigeria - strike threatened by Feb 11 over use of a foreign firm for oil monitoring (though we’re not quite sure yet from which country Cobalt International Services hails)

Australia’s Origin Q2 output rises, sales slip (Reuters)

China energy firms aim to boost northwest output (Reuters)

EDF wins French approval to develop nuclear reactor (Bloomberg)

$515bn needed to boost clean energy (WEF Report)