Petrobras bribes paid through Swiss banks, witness says. A former exec says he laundered c $100m through a web of accounts, including at HSBC and J Safra Sarasin.
Russia and China set to finalise gas deal later this year. A pipeline would take gas from western Siberia, giving Putin a choice of going either east or west for the first time.
Florida officials banned from saying ‘climate change’ and ‘global warming’. Governor Rick Scott, a denier, instigated the unwritten policy, officials say.
7.3.15.
Pledges for Paris summit likely to fall far short of 2 degrees. Nick Stern and a Grantham Institute team estimate that the shortfall will be 10 billion tonnes of carbon.
20,000 on climate march in London. Activists say this is the start of a year of action on climate change.
Biggest producer in Bakken seeks potential buyers. Whiting Petroleum, nursing a stressed cash position, poses a real test of investor sentiment for shale.
China pulls air pollution expose film from websites. Under the Dome has been watched by more than 100 million online.
6.3.15.
EU pledges 40% by 2030 for climate summit. Ministers agree their collective reduction of greenhouse gases on 1990 levels.
“Climate change: why the Guardian is putting threat to Earth front and centre.” Editor Alan Rusbridger explains the papers focus in weeks to come.
US active oil rig count drops for 13th straight week. The total is now down 43% from the 2014 peak of 1,609.
“Ed Davey: ‘Crazy’ Conservatives would frack ‘every bit of croquet lawn’.” This quote from an article in the Telegraph, based on interview in Carbon Brief.
China sets ambitious solar goal of 100 GW installed by end of year. Up from 26.5 GW end 2014. Announced same day as Permier Li’s air pollution commitment.
Brazilian Supreme Courtwidens Petrobras graft probe. Dozens of politicians, including leading lawmakers, to be investigated.
5.3.15.
Chinese Premier vows to fight harder on cutting air pollution. Li Keqiang makes the pledge at the National People’s Congress.
“The price of oil is about to blow a hole in corporate accounting.” Companies have been booking reserves under rules that allow $95 a barrel last quarter.
A US driller that raised money just 7 months ago misses its first bond payment. American Eagle Energy can’t pay intereston a $175m bond.
Exxon says US shale will drive its growth. It says it will double production in next three years, creating cash for overseas projects even at $55 a barrel.
More than $150 billion of oil projects face the axe in 2015. Rystad predicts one third of next year’s final investment decisions likely to negative at $70 a barrel.
US oil company successfully sued in US court for overseas pollution. Occidental pays an undisclosed sum to indigenous Peruvians in a first-ever for US industry.
Solar closes in on cost of coal-fired power, says Deutsche Bank. Prices could fall 40% more by 2020, creating $4 trillion of value in the next 20 years.
SunEdison acquires a storage company. They aim to pair SolarGrid Storage’s capabilities with solar and wind.
Utility-scale solar added 14.2 GW in 2014, making 35.9 GW total. By the end of 2015, 15 countries are likely to be in the “gigawatt-plus” club.
4.3.15.
“We’re going to spend staggering amounts of money.” So Elon Musk tells analysts on Tesla’s latest earnings call. $5bn for the battery factory alone.
UK carbon emissions fell 9% in 2014. A 20% reduction in coal use and record warm temperatures contributed. Also continued falls in energy use.
3.3.15.
Bank of England warns of “huge hit” financial risk from fossil fuel investments. So says Paul Fisher, deputy head of the bank’s prudential regulation authority.
No decision yet on budget for E.ON new energy company. €30bn in debt mostly to go into the legacy company. Total market cap today:€26bn.
“We need to wean ourselves off the excesses of the fossil-fuel age.” Martin Wolf in the FT: “It is a daunting challenge. But it has to be met, for our children’s sake.”
Glencore’s CEO ‘blowout’ year for oil trading. Ivan Glasenberg says trading in the oil business is improving strongly, with the return of volatility in market prices.
German solar giant returns to profit and ambition. Conergy seeks listing, and a $2-3bn valuation on sales of almost $500m, $10m profit, last year year.
Japanese utilities rebel against the success of solar. They have started to refuse to buy solar power. It took only 3.4 GW installed and 8GW pipeline to trigger this.
2.3.15.
UAE bank says great majority of global power investment will be renewables. National Bank of Abu Dhabi report emphasises oil can’t compete with solar any longer.
Oslo becomes the first capital city to divest. No more coal, the city decides, joining 40 other major cities.
Members of €32 bn Danish pension funds to vote on divestment. A series of resolutions has been filed by members from Danish professions seeking “black money” retreat.
“Climate change: why the Guardian is putting threat to Earth front and centre.” Editor Alan Rusbridger explains the papers focus in weeks to come.
US active oil rig count drops for 13th straight week. The total is now down 43% from the 2014 peak of 1,609.
“Ed Davey: ‘Crazy’ Conservatives would frack ‘every bit of croquet lawn’.” This quote from an article in the Telegraph, based on interview in Carbon Brief.
China sets ambitious solar goal of 100 GW installed by end of year. Up from 26.5 GW end 2014. Announced same day as Permier Li’s air pollution commitment.
Brazilian Supreme Courtwidens Petrobras graft probe. Dozens of politicians, including leading lawmakers, to be investigated.
5.3.15.
Chinese Premier vows to fight harder on cutting air pollution. Li Keqiang makes the pledge at the National People’s Congress.
“The price of oil is about to blow a hole in corporate accounting.” Companies have been booking reserves under rules that allow $95 a barrel last quarter.
A US driller that raised money just 7 months ago misses its first bond payment. American Eagle Energy can’t pay intereston a $175m bond.
Exxon says US shale will drive its growth. It says it will double production in next three years, creating cash for overseas projects even at $55 a barrel.
More than $150 billion of oil projects face the axe in 2015. Rystad predicts one third of next year’s final investment decisions likely to negative at $70 a barrel.
US oil company successfully sued in US court for overseas pollution. Occidental pays an undisclosed sum to indigenous Peruvians in a first-ever for US industry.
Solar closes in on cost of coal-fired power, says Deutsche Bank. Prices could fall 40% more by 2020, creating $4 trillion of value in the next 20 years.
SunEdison acquires a storage company. They aim to pair SolarGrid Storage’s capabilities with solar and wind.
Utility-scale solar added 14.2 GW in 2014, making 35.9 GW total. By the end of 2015, 15 countries are likely to be in the “gigawatt-plus” club.
4.3.15.
“We’re going to spend staggering amounts of money.” So Elon Musk tells analysts on Tesla’s latest earnings call. $5bn for the battery factory alone.
UK carbon emissions fell 9% in 2014. A 20% reduction in coal use and record warm temperatures contributed. Also continued falls in energy use.
3.3.15.
Bank of England warns of “huge hit” financial risk from fossil fuel investments. So says Paul Fisher, deputy head of the bank’s prudential regulation authority.
No decision yet on budget for E.ON new energy company. €30bn in debt mostly to go into the legacy company. Total market cap today:€26bn.
“We need to wean ourselves off the excesses of the fossil-fuel age.” Martin Wolf in the FT: “It is a daunting challenge. But it has to be met, for our children’s sake.”
Glencore’s CEO ‘blowout’ year for oil trading. Ivan Glasenberg says trading in the oil business is improving strongly, with the return of volatility in market prices.
German solar giant returns to profit and ambition. Conergy seeks listing, and a $2-3bn valuation on sales of almost $500m, $10m profit, last year year.
Japanese utilities rebel against the success of solar. They have started to refuse to buy solar power. It took only 3.4 GW installed and 8GW pipeline to trigger this.
2.3.15.
UAE bank says great majority of global power investment will be renewables. National Bank of Abu Dhabi report emphasises oil can’t compete with solar any longer.
Oslo becomes the first capital city to divest. No more coal, the city decides, joining 40 other major cities.
Members of €32 bn Danish pension funds to vote on divestment. A series of resolutions has been filed by members from Danish professions seeking “black money” retreat.
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