Energy
Oil in New York Declines the Most in Six Weeks as Dollar Gains Versus Euro Crude oil tumbled the most in three
weeks as the dollar strengthened against the euro, curbing the
appeal of commodities as an alternative investment.
Arrow May Agree to Improved $3.1 Billion Shell/PetroChina Bid, Review Says Australia’s Arrow Energy Ltd. is
poised to agree to an improved takeover offer from Royal Dutch
Shell Plc and PetroChina Co. Ltd., the Australian Financial
Review reported, without saying where it got its information.
The increased offer will be at least A$4.70 a share cash plus a
stake in Arrow’s early-stage Asian exploration assets, the
report said. The cash component of the new proposal is worth
about A$3.44 billion, the newspaper reported.
EDF Reaches One-Month High on Prospects for French Power Law Debate in May Electricite de France SA, Europe’s
biggest power generator, rose to a one-month high in Paris
trading after a deputy said a long-planned electricity law would
go before parliament earlier than expected.
Wind, Solar Energy Share Offers May Rise This Year, Morgan Stanley Says Renewable energy companies may tap
financial markets for more funds this year instead of looking to
mergers with utilities as a way of funding expansion, said
Morgan Stanley, manager of the most initial public offerings for
the industry in 2009.
Enel Will Ask Banks to Bid to Arrange Green Power Share Sale, Conti Says Enel SpA plans to seek banks this
month to advise on the initial public offering of its renewable
energy unit, likely to be Europe’s largest since 2007.
Poland's Orlen to `Analyze Options' for Lithuanian Unit After Talks Fail PKN Orlen SA, Poland’s largest oil
company, will “analyze other options” for its Lithuanian unit
after negotiations with the Baltic country’s government failed
to guarantee a return to profitability.
London's Battersea Power-Station Owners Seek to Sell a Minority Interest The Irish owners of London’s
Battersea Power Station, Europe’s largest brick building, want
to sell a minority stake to help finance the 5.5 billion-pound
($8.3 billion) regeneration project.
Shell Earned More From Canadian OilSands Projects Than Other Projects Royal Dutch Shell Plc, which plans
to produce oil from Canada’s tar sands for 40 years, earned 67
percent more from operations in Alberta than from projects
elsewhere between 2005 and 2009.
Betting Against Hedge Funds Smart Energy's Lang Aims to Repeat 83% Return The top-ranked investor in
renewable energy last year is betting hedge funds are wrong.
Gasoil Backwardation Extended by European Oil-Refining Slowdown, Exports European gasoil prices are trading
in backwardation, whereby prompt prices are higher than the next
delivery month, for the longest stretch in 16 months, as exports
from Europe and falling refinery output reduce supply.
Cyclone Ului Threatens Coal Port Shipments, Sugar Cane Crop in Queensland Tropical Cyclone Ului is
forecast to strike Australia’s Queensland coast with damaging
winds and heavy rain tomorrow as it’s expected to strengthen
to category three before making landfall.
RBS Cuts Loans to Renewable Energy Projects, Snubbing Brown's Initiative Royal Bank of Scotland Group Plc,
historically the biggest commercial lender for renewable energy
projects, has scaled back loans to the industry since the U.K.
government bailed out the company in 2008.
Volcano Erupts Beneath Glacier in Iceland, Hundreds Evacuated From Homes A volcanic eruption east of
Iceland’s Eyjafjallajokull glacier has forced the evacuation of
more than 500 people and the cancellation of all flights to and
from the island, the Department of Civil Protection said.
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