After the dot.com crash and the credit crunch, investors are being warned of the potential consequences of a ‘carbon bubble’.
Stock markets are sitting on vast reserves of fossil fuels that cannot be burnt if the world is to stick to climate change targets, according to research issued by the Carbon Tracker initiative. Read more
Developing countries invested more in renewable energy than their developed counterparts for the first time last year, according to a report commissioned by the UN Environment Programme (UNEP). Read more
When the Republic of South Sudan becomes the world’s newest state on Saturday, the new government in Juba will begin to assess how it can establish an independent export route for its vast oil reserves. Read more
India seems to hold the upper-hand over Iran in a dispute over payments for crude oil shipments that has been rumbling for over six months.
Iran supplies India with 12-14 per cent of its total imports, making it India’s second biggest provider after Saudi Arabia. But a payments dispute has left India owing debts estimated at anywhere between $2-6 billion. In effect, this means India has been importing Iranian oil on credit since December 2010. Read more
Middle East nuclear, RWE, Chinese wind turbines
In this week’s podcast: We talk to Deloitte’s head of nuclear, Daniel Grosvenor about nuclear power plans in the Middle East; we look at German utility RWE and the possible sale of UK subsidiary Npower; and, we discuss China’s steps into the European wind market with the country’s biggest turbine maker securing an Irish wind farm deal worth €1.5bn. Read more
Pakistan is to become a key buyer of Iranian natural gas at a time when relations with Washington are at their most strained in recent years.
Work on extending the Iran-Pakistan gas pipeline will begin in the next six months and is set to be complete by 2014, according to Asim Hussain, the Pakistani natural resources minister. Some 1,100 km of the 2,700 km pipeline has already been completed on the Iranian side of the border, stretching from the South Pars field to the frontier with Pakistan. Read more