Monthly Archives: July 2011

Air of desperation at BP as they seek a big idea.

The latest effort to find the big idea that might placate investors is a focus by the trouble-hit company on Iraq. Rumours of a takeover by Shell swirl around, and CEO Dudley does not discount his own break-up of the company, emulating ConocoPhillips and Marathon recently.… Read-more
Posted in Oil Tagged with:

“Unusable reserves: it’s hot air, say analysts”.

So the headline in the FT reads for an article relaying the responses of analysts and fund managers to the CarbonTracker report. Says one analyst: “I think it’s a bollocks subject. I’m not interested in this kind of subject. I think this is complete hot air.” Says a fund manager:… Read-more
Posted in Climate, Coal, Finance, Gas, Oil Tagged with: , , ,

Shareholders target BP’s chairman.

Top 15 shareholders are complaining amid “lacklustre” returns, that Carl-Henrik Svanberg has not provided enough strategic direction. Note that there was also a strong protest vote against the reappointment of the senior independent director, Sir Bill Castell, at the last AGM.… Read-more
Posted in Finance, Oil Tagged with: ,

It will be years before Libyan oil comes back online.

Barclays Capital concludes that even if the conflict ends soon, the return of capacity will take years rather than months, because there has been too much damage to infrastructure.… Read-more
Posted in Oil Tagged with:

Renewables receive only a tenth the subsidies of fossil fuels.

Bloomberg New Energy Finance report that governments last year gave $43 billion to $46 billion of support to renewable energy through tax credits, feed-in tariffs and alternative energy credits. $557 billion went to fossil fuels in 2008, the International Energy Agency said last month.… Read-more
Posted in Clean Energy, Coal, Gas, Oil

UK solar grows 18 fold since last year as feed-in tariffs take effect.

From April to June this year, nearly 34 MW of new solar generating capacity has been added to the UK grid, bringing the UK’s total capacity to nearly 122MW: more than 14,500 new installations, compared with the UK’s total capacity of only 2,700 PV systems in use by the end… Read-more
Posted in Clean Energy Tagged with: ,

Willingness of Japan’s citizens to ration energy reduces prospect of blackouts.

Regions under conservation mandates appear to be meeting reduction targets and even exceeding them. In the Tokyo area, for example, the government is pushing to cut electricity use by 15 percent between 9 a.m. and 8 p.m. on weekdays in order to prevent blackouts. The Japanese are bringing to the… Read-more
Posted in Clean Energy Tagged with: ,

RWE abandons UK wave power project.

RWE npower renewables withdraws from a planned 4MW scheme on Lewis, the Siadar project, which aims to deploy 10 wave generators made by Voith Hydro Wavegen. The energy giant says it prefers tidal technology.… Read-more
Posted in Clean Energy Tagged with: ,

“Why the UK must choose renewables over nuclear: an answer to Monbiot”.

Jonathon Porritt in the Guardian: “Monbiot is fixed in a contrarian crusade to undermine the solar industry and his controversialist instincts have blinded him”. In a detailed look at the economics of nuclear, the former Chairman of the Sustainable Development Commission sets out the challenges for nuclear CFOs, with… Read-more
Posted in Nuclear Tagged with: , ,

BP oil and gas production falls 11%.

A quarter of £3.3 bn profit and 3.43 mbd of oil equivalent production disappoints analysts. Some suggest the company should spin off refining/marketing, like Conoco-Phillips. One says “they are in limboland.”… Read-more
Posted in Gas, Oil Tagged with:

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