The issue of hydraulic fracturing, or fracking, has taken on a life of its own. But with so much misinformation circulating, it is hard for the general public to know whether it is a good thing or a bad thing. The truth is – as with any polarizing issue – somewhere in the middle Read more
Over the next decade, Britain is expected to spend some £200bn on overhauling its entire energy infrastructure. Chris Huhne, the energy secretary, tries to justify this colossal price tag by pointing to the future opportunities presented by “green growth”. He reckons the UK can reap a huge dividend by becoming a leader in renewable energy technologies, allowing us to penetrate new export markets in emerging economies.
But an energy conference organised by the Financial Times in London threw several buckets of cold water over Huhne’s optimistic theory. Read more
The technological advances in the oil and gas patch just keep coming. While everyone has been scrambling to catch up with the shale gas revolution, the industry has been working on another potentially massive breakthrough in gas. This one is in producing gas that has long been stranded offshore in areas too far or too small to warrant a pipeline to shore.
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 Read more
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. Read more
It was not a bluff. When Centrica warned a month ago that it might choose to leave one of Britain’s biggest gas fields off-line because of the higher taxes levied on UK energy companies, some thought this was an empty threat.
However, South Morecambe gas field has become available after a period of routine maintenance – and Centrica chose to leave it dormant on Wednesday morning. Read more
In the corridors of Brussels’ elegant Stanhope Hotel on Wednesday afternoon, the well-turned-out movers-and-shakers of the European energy world were marvelling at the sizeable budget and high-profile guest list for the event they were attending. 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
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