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Exxon Goes Shopping?


Energy Roundup: Exxon Goes Shopping?, Solar Companies Recycle, and More

By Christopher Wink | January 12th, 2009 @ 11:18 am

Exxon now has money to burn, a move possible — With $40 billion in cash, Exxon Mobil could be poised to buy out or merge with one of its struggling competitors. Oil giants like ChevronBPRoyal Dutch ShellConocoPhillips and Exxon itself face weak fourth-quarter profits and oil-prices remain depressed, so a major merger or acquisition is possible, analysts say. [SourceOil & Gas Eurasia]

European solar companies promise to recycle — A group of solar-industry companies in Europe has pledged to collect and recycle a large percentage of solar-power producing equipment. Under the voluntary plan, companies will collect at least 65 percent of photovoltaic modules installed in Europe since 1990 and recycle 85 percent of the waste they create. [SourceGreen Inc.]

Russia to return gas supplies to Europe — Russian gas utility Gazrpom will resume tomorrow pumping gas to EU countries through the Ukraine after the completion of a monitoring deal. The fight on billing between Russia and the Ukraine, through which much of European gas travels, has shown how vulnerable EU gas supplies are. [Source:BBC News]

More debate on world’s peak petroleum output — Forty-eight percent of chief financial officers at U.S. oil and gas exploration and production companies say the world has reached its peak petroleum production rate, or will do so within the next few years, according to a new survey by accounting firm BDO Seidman. Fifty-two percent disagree. [SourceMarket Watch]

Solar company raises $47.5 million — Solar-energy company SolFocus raised $47.5 million in the first round of its Series C funding. The company, which also appointedMark Crowley its new CEO, says it plans to use the funding to speed the expansion of its manufacturing operations and develop its “concentrator photovoltaic” solar panels . [SourceRenewable Energy World]


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