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E.ON becomes the first big energy company to break ranks with a U-turn on energy transition, trouble of all sorts for shale, Lima climate summit gears up in face of the hottest year ever, BP & Shell in disfavour with the Church, viable future for oil and gas giants questioned in FT: Week 48, 2014

Typhoon Hagupit forces a million Philippinos to flee their homes. For the third climate summit running, the nation suffers a devastating storm. “UN climate talks call future of energy majors into question”: FT. “ExxonMobil and Shell would cease to exist in their current form in 35 years”, FT concludes.… Read-more
Posted in Clean Energy, Climate, Coal, Finance, Gas, Oil Tagged with:

Russia to abandon South Stream pipeline.

FT: “President Vladimir Putin said on Monday that Russia would stop construction of the South Stream gas pipeline, shelving a strategically important project that Moscow was counting on to cement its influence in south-eastern Europe.”… Read-more
Posted in Gas Tagged with: , ,

BoE to examine risks carbon-fuel companies pose to financial stability.

FT: “The Bank of England has revealed it is to examine formally for the first time the risks fossil fuel companies pose to financial stability.”… Read-more
Posted in Climate, Coal, Finance, Gas, Oil Tagged with: , , , ,

Saudi Arabia “Takes the Gloves Off”: moment of truth arrives for US shale.

Mark Lewis for Kepler Cheuvreux (no url): “Despite the dramatic recent fall in oil prices, OPEC decided yesterday to maintain its current production quota of 30mbd, thereby compounding market fears of a short-term supply glut and prompting a further sharp drop in the Brent and WTI benchmarks (both down 6.3%… Read-more
Posted in Gas, Oil Tagged with: , , , , , ,

“OPEC Faces Off Against Shale: Who Blinks as Price Slides Toward $70?”

Bloomberg: “OPEC’s decision to cede no ground to rival producers underscored the price war in the crude market and the challenge to U.S. shale drillers.”… Read-more
Posted in Gas, Oil Tagged with: , , , , ,

UK government chief scientist compares fracking risk to thalidomide.

Guardian: “Fracking carries potential risks on a par with those from thalidomide, tobacco and asbestos, warns a report produced by the government’s chief scientific adviser.”… Read-more
Posted in Gas, Oil Tagged with: , , ,

UK regulator introduces tough controls aiming to cut energy bills.

FT: “UK energy regulator Ofgem has outlined tough annual price controls for power distributors that it claims will cut £2.1bn from customer bills – equivalent to £11 per household – and increase compensation for extended power outages.”… Read-more
Posted in Coal, Gas, Nuclear Tagged with: , , , ,

“Market rout as oil slide rocks energy groups”: FT.

FT: “Shares in the world’s biggest energy groups have tumbled in a market rout as plunging oil prices put at risk billions of dollars of investment and jeopardised future supplies of crude.”… Read-more
Posted in Gas, Oil Tagged with: ,

Shareholders tell Exxon: Oil price, climate should mean $56B in dividends.

Houston Business Journal: “ExxonMobil Corp. needs to face the reality of low oil prices and climate change, according to shareholders from Arjuna Capital and As you Sow.”… Read-more
Posted in Climate, Gas, Oil Tagged with: , ,

Banks begin to face heavy losses as oil price falls.

FT: “Banks including Barclays and Wells Fargo are facing potentially heavy losses on an $850m loan made to two oil and gas companies, in a sign of how the dramatic slide in the price of oil is beginning to reverberate through the wider economy.”… Read-more
Posted in Finance, Gas, Oil Tagged with: , ,

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