Mr. Ollila demonstrates his pragmatism defending Shells recent decision to stop investing in wind and solar energy and focus generally on biofuels as its approach to climate change measures.
Posts on ‘March 26th, 2009’
Jorma Ollila tribute
Obama Administration Revives Tax Battle With Oil Industry
A report by the Congressional Research Service last year said the top five major integrated companies -- Exxon Mobil Corp., Royal Dutch Shell PLC, BP PLC, Chevron and ConocoPhillips-- generated more than $100 billion in profits on nearly $1.5 trillion of revenue in 2007.
Clampdown on greenwash
David Norman, director of campaigns at WWF UK, whose complaint against an advertisement by Royal Dutch Shell last year was upheld by the ASA, gave the change in rules a cautious welcome.
State intervention vital if Britain is to meet its green energy targets, says former BP boss
Britain must revert to greater state control of energy markets to hit ambitious targets on renewable energy and climate change, according to the former head of BP.
Green energy is not such a breeze
One by one, the energy giants that hoisted green flags and trumpeted their conversion to renewables are ducking and diving and hiding behind the curtains. Iberdrola, a big investor in wind farms in Spain and the owner of ScottishPower, is slashing its spending on renewables by 40 per cent. Shell said recently it would no longer invest in wind turbines, preferring to focus its efforts on new biofuel technology, while BP has opted out of the UK renewables market, deeming it to be a poor bet.
Fears for green energy after investment is slashed
Shell and BP have shelved or pulled out of renewable energy projects, including a £3 billion project for 341 turbines in the Thames Estuary, and questions have been raised over the future of npowers £2.2 billion Gwint y Mor farm off the Welsh coast.
Gasbags talk up Santos takeover
SANTOS shares jumped 80c, or 5 per cent, to $16.93 yesterday on revived speculation of a bid from an international oil giant.
With Suncor and Petrocan merging, analysts look at who’s next
"I think it's possible that they could be acquired, but I think the likelihood with their scale becomes less so, because then it becomes a major transaction, even for a supermajor," he said, naming ExxonMobil, Royal Dutch Shell and BP as possibilities.