It’s not often that you meet a life size polar bear on your way into work but that is what greeted staff at Cairn Energy in Edinburgh this morning. The Scottish oil and explorer is being targeted by Greenpeace as part of an ongoing campaign to stop the company from exploring in the waters of the Arctic off Greenland. Read more
Hugo Chávez must be distraught. There’s nothing he loves more than to launch into spirited tirades against the “empire” (a.k.a. the USA), and now he has the perfect excuse: it slapped sanctions on Venezuela’s state oil company PDVSA for selling fuel to Iran. Read more
As questions about hydraulic fracturing – fracking as it is known in the industry – continue to build, the oil and gas industry is finding investors asking for more transparency as to how companies are going to face the growing risks to production. Read more
In this week’s podcast: Crude oil predicted to hit $130; UK green investment bank to open early next year; US energy policy; plus, comments from Energy Source. Read more
Mol Duna refineryHungary is taking no chances with control of Mol (MOL:BUD), the national oil company. After announcing a €2.88bn deal to buy back a controversial 21.2 per cent stake from Surgutneftgaz, the secretive Russian energy group, Budapest is proposing to up its stake further, to up to 24 per cent. Read more
Wow. Turns out that in 2008 (into the mega rally time period) someone may have been “squeezing” oil after all. Read more
Having been proven right about their prediction of a rather substantial correction in commodities earlier this month, Goldman Sachs is now out with a new view.
A bullish view. Read more
We all knew that the collapse of BP’s deal with Rosneft to drill in the Arctic was more damaging for BP than it was for their prospective Russian partners. Read more
With his party expected to win its third overall majority in general elections on June 12, Tayyip Erdogan, Turky’s prime minister, seems set on establishing his own legacy with his long-promised “crazy project” finally unveiled this week: a 50-kilometre long, 120-metre wide canal that his government plans to construct 100 km west of Istanbul between the Black Sea and the Sea of Marmara. Read more
Controversy about importing fuel from Canada’s vast oil sands has been swirling for some time. It is an issue environmentalists seized on with great hopes when President Barack Obama came into office, given his pledges to work to reduce the country’s carbon footprint and the fact that oil from tar sands, as environmentalits refer to the source, has a higher carbon intensity than that from traditional crude.