Image by Shell
In this week’s readers’ Q&A session, Peter Voser, the chief executive of Shell, answers your questions.
In the first of two posts, he addresses when and how the next oil price shock might happen, the future of the North Sea and why Shell left the Falklands.
In the second post, published above, he discusses the future of natural gas, the controversial process of “fracking” and why biofuels are the answer to powering transport.
Next in the hotseat is Chris Huhne, the UK energy secretary, who will be answering your questions on electricity market reform next Thursday, December 23rd. Send in your questions for consideration by the end of today – Friday, December 17th – to firstname.lastname@example.org.
But for now, over to Peter:
Yesterday Desire Petroleum’s shares jumped more than a quarter, which can only mean one thing: oil in the Falklands.
As The Times reported (£):
In an announcement that could exacerbate tensions over the islands’ sovereignty with Argentina, Desire said that its offshore Rachel North well had been drilled to a depth of more than 3 kilometres and discovered a 57-metre thick belt of oil interspersed with layers of sand and shale.
Goldman Sachs has just initiated coverage on a whopping 41 new European E&P stocks in a report called 50 E&Ps to change your portfolio.
Without wanting to go in depth on a massive 289-page report, a few themes jump out.