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We Can Win the Fight to Eliminate Dirty Fossil Fuel Subsidies
Traci Romine
Feb10
We are in this fight to win it for ourselves, our pocket books, our planet, and our kids and grand kids. And this is a fight. Despite the trillion in profits big oil and gas companies are making on the backs of American consumers, they came out swinging against President Obama’s second call in his…
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The Oil Boom is Back
Andy Rowell
Jan24
A new report by the energy consultancy, PFC Energy, is arguing that the center of the global energy industry is slowly shifting away from the oil majors. Publicly traded companies in Russia, China and Brazil are taking more of the top spots in its influential global ranking of the world’s energy giants. In part to…
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Reserves Replacement Ratio: past its sell-by date?
Lorne Stockman
Jan18
Is a key valuation metric used by analysts to assess oil companies pushing big oil towards riskier and riskier projects? Those of us outside the financial sector may not be too familiar with acronyms such as RoACE, NAV or RRR. But the last one in particular has been intriguing me lately because of its implications…
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“Unacceptable Consequences” of Arctic Oil Drilling
Andy Rowell
Nov12
Following on from an earlier blog this week, we know now from Tony Hayward that BP was woefully unprepared for the Deepwater oil spill. So if BP was not prepared in the warm accessable waters of the Gulf of Mexico, what about the cold remote and inhosbitable waters of the Arctic where oil could take…
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Deepwater Disaster has “Long-Term Benefits”
Andy Rowell
Nov11
I have explored enough on this blog how the perception that the Deepwater disaster would somehow be a game changer for the oil industry now looks wildly over optimistic and premature. There were always going to be winners and losers from the Deepwater Horizon disaster. But probably not many would have predicted that oil service…
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The Game Remains the Same
Andy Rowell
Nov08
In the days after the BP oil spill, many environmentalists argued that the spill would be a “game-changer”, that it would facilitate the transition to a clean energy future. But any new legislation that might have been introduced after the spill that placed stricter regulations on offshore drilling is not likely to come into force,…
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BP Disaster Adds to Oil Major “Identity Crisis”
Andy Rowell
Nov01
Its not a new concept that the oil majors are struggling to come up with new reserves, but its not often that it is written in black and white. Well pink, actually. Today’s Financial Times has one of its special reports on Energy. It combines two of the recurring themes I have written about on…
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“Deep-water drilling will continue because that’s where the oil is..”
Andy Rowell
Sep30
The Washington Post this morning asks a fundamental question that has been played out in countless meetings of oil companies, government officials and environmental NGOs: “Will the oil spill make a drop of difference regarding our attitudes?” Some five months later, was the spill a game changer like many predicted? And the results seem to…
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“Brazil is the future for the oil industry”..
Andy Rowell
Sep24
Are investors put off by the risks of ultra deepwater drilling after the Deepwater Horizon disaster? If the frenzy down in Brazil is anything to go by – the answer is a staggering no. Brazil’s national oil company, Petrobras, has just raised a whopping $70bn in the biggest share issue in corporate history. And the…
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BP Will Survive, But What About the Others?
Andy Rowell
Sep21
It is not rocket science that fickle City investors responded to the news of BP’s final plugging of the Macondo well by sending the company’s share price rising. BP’s share price rose by just under 2 per cent to $38.68, helping to recover a small portion of the billions wiped off BP’s market capitalisation during…
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