Archive for the ‘Gas’ Category

Reasons for optimism about prospects for the Paris climate summit.

August 21, 2014 Clean Energy, Climate, Coal, Commentaries, Gas, Oil

BusinessGreen: “BusinessGreen Leaders Awards Champion of the Year, Jeremy Leggett, reveals why there are reasons to be optimistic in the run up to the Paris climate summit.”
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Oil industry on borrowed time as switch to solar and gas accelerates.

August 20, 2014 Clean Energy, Gas, Oil

Ambrose Evans-Pritchard in the Telegraph: “The props beneath the global oil industry are slowly decaying. The big traded energy companies resemble the telecom giants of the late 1990s, heavily leveraged to a business model already threatened by fast-moving technology. Citigroup warns – or cheerfully acclaims, depending on your point of view – that world energy markets are entering a period of “extreme flux”, with oil caught in triple encirclement by cheap natural gas, much more efficient vehicles and breathtaking advances in solar power as scientists crack the secrets.”
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UK energy dependence – five hidden costs expose truth about fracking.

August 18, 2014 Clean Energy, Climate, Commentaries, Gas, Oil

Jeremy Leggett in the Guardian: “The shale boom is a bubble waiting to burst as economics of extraction falter and the trickle of bad environmental news starts to swell.”
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UK anti-fracking group stages day of protests.

August 18, 2014 Gas, Oil

Guardian: “Anti-fracking protesters caused peaceful disruption at several locations on Monday, gluing themselves to the doors of a government department, occupying a building used by an energy firm and blockading access to a test drilling site.”
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Citigroup: solar industry to outperform fossil fuels in long term.

August 15, 2014 Clean Energy, Gas

Blue&GreenTomorrow: “Investment bank Citigroup predicts that the solar industry will continue to grow on a global scale and will become competitive with fossil fuels, because of “pure economics” and the need to diversify energy supply over the long term.”
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Oil majors gambling US$91bn on 20 high-risk projects.

August 15, 2014 Climate, Finance, Gas, Oil

CarbonTracker: “The world’s biggest publicly listed oil companies plan to develop the projects, which will put nearly $91 billion of investor cash at risk over the next decade.”
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Rosneft asks Moscow for $42bn as western sanctions bite.

August 14, 2014 Gas, Oil

FT: “Rosneft has asked the Russian government for as much as Rb1.5tn ($42bn) in support, in a clear sign of the growing cost of western sanctions against Moscow.”
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Support for UK fracking drops to 24%, DECC survey finds.

August 12, 2014 Gas, Oil

Telegraph: “Support for fracking in the UK has fallen, with less than a quarter of the public now in favour of extracting shale gas to meet the country’s energy needs, according to official government polling.”
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Oil companies fracking into drinking water sources, new research shows.

August 12, 2014 Gas, Oil

LA Times: “Energy companies are fracking for oil and gas at far shallower depths than widely believed, sometimes through underground sources of drinking water, according to research released Tuesday by Stanford University scientists.”
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UK government ridiculed for heavily censoring fracking report.

August 11, 2014 Gas

Geoffrey Lean in the Telegraph: “The Government has just published a report on the likely effects of the drilling on Britain’s countryside communities – including its possible impact on house prices – that is so heavily redacted it might instead be devoted to a military assessment of options for intervention in Iraq.”
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Oil & gas company debt soars to danger levels to cover shortfalls in cash.

August 11, 2014 Climate, Gas, Oil

Telegraph: “The world’s leading oil and gas companies are taking on debt and selling assets on an unprecedented scale to cover a shortfall in cash, calling into question the long-term viability of large parts of the industry.”
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UK fracking company wins permission to reinject waste water.

August 10, 2014 Gas, Oil

Independent on Sunday: “Environmental campaigners fear an oil company’s plan to drill for gas in one of Britain’s national parks is a stalking horse for a future bid to carry out fracking in the area.”
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Exxon begins drilling in Russian Arctic immune to sanctions.

August 8, 2014 Gas, Oil

Bloomberg: “Sanctions, what sanctions? ExxonMobil Corp. will start drilling a $700 million well in the Arctic Ocean tomorrow, Russia’s government said, showing that for all the talk of action against Vladimir Putin’s oil industry, the largest U.S. energy company is undeterred.”
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China, finding exploration “challenging”, halves its shale gas target.

August 7, 2014 Gas

Reuters: “China has halved the quantum of shale gas it expects to produce by 2020 after early exploration efforts to unlock the unconventional fuel proved challenging, according to an industry website and a government source.”
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Collective energy switching auction in UK saves £232 per household.

August 6, 2014 Clean Energy, Coal, Gas, Nuclear

Guardian: “Consumers who took part in the most recent council-led collective switching auction to get cheaper gas and electricity bills saved an average of £232 per household, the Local Government Assocation (LGA) has revealed.”
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Big 6 face criminal prosecution if suspected of price fixing.

August 5, 2014 Clean Energy, Coal, Finance, Gas, Nuclear

FT: “UK regulators will be given powers to prosecute anyone suspected of rigging the energy market, under proposals being put forward by the government.”
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The signs of energy system-change are coming think and fast now.

August 5, 2014 Clean Energy, Climate, Coal, Commentaries, Gas, Oil

Jeremy Leggett in Recharge magazine: “Some mornings these days, I open my laptop, check the energy news and have to pinch myself to make sure that I am not still dreaming, so fast are signs of system change emerging.”
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EIA: Oil & gas cos take on debt, sell assets to boost cash flow.

August 4, 2014 Gas, Oil

Rigzone: “Oil and gas companies are taking on debt and selling assets to make up for the shortfall between operational cash flow and cash being spent, according to a recent report from the U.S. Energy Information Administration (EIA).”
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“Rise of renewables adds to need for gas power”: FT.

August 3, 2014 Clean Energy, Gas

FT: “Something odd is happening at Europe’s big energy companies. They have stopped complaining so much about renewable energy subsidies.”
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BP on Rosneft risk: ‘We work in countries with ups and downs’.

July 31, 2014 Gas, Oil

Guardian: “….This time, Dudley faces questions over the BP’s near-20% stake in Rosneft, the Kremlin-controlled oil group that has been dragged into the latest round of EU sanctions through restrictions on the export to Russia of hi-tech equipment for extracting fossil fuels.” (more…)