Hints and tips:
...A combined entity would be comparable to BP, which sold 19mn tonnes last year....
...Unlike European rivals such as Shell and BP, however, it has avoided any shift into renewable energy....
...In 2006, a damaged BP pipeline caused one of the largest oil spills in Alaska’s history and, in 2010, it was behind the Deepwater Horizon disaster, unleashing the largest oil spill in history....
...BP recently closed a $4.1bn deal for Archaea Energy, whose projects harvest methane created at landfill sites....
...For example, when BP, which is considered a climate leader among oil majors, sold its Alaska assets to private operator Hilcorp in 2019, this cut BP’s emissions — but not the asset’s, where fossil fuel output...
...But the oil sands output has been growing as oil prices have risen and as new export capacity is planned, including a pipeline to Canada’s west coast, making it easier to get the crude to market....
...With Clearway owning 42 per cent of its listed subsidiary Clearway Energy Inc, the deal gives Total access to a pipeline of 25 gigawatts of wind, solar and storage projects across the US....
...Clearway is the fifth largest renewables operator in the US, with 8GW of wind and solar assets operating and a further 25GW project pipeline....
...“Our entry into the global LNG market opens new opportunities to supply affordable, clean and reliable energy to the market,” said Brian Gilvary, the former BP executive who runs Ineos Energy....
...News round-up McKinsey’s Bob Sternfels: ‘We’re OK if you don’t agree with us’ (FT) Prologis to buy Duke Realty in $26bn deal (WSJ) Gorman reassures on US economy as markets shudder (FT) BP sells stake...
...At the Senate committee hearing last month Alaska’s Republican senator Lisa Murkowski echoed the oil producers’ rationale: “Sometimes our solutions are right in our backyard....
...Shell, BP, ExxonMobil, and others that spent years courting Vladimir Putin, Russia’s president, and his oligarchs avoided questions about their withdrawal from Russia....
...Some analysts have pointed to BP’s sale of its Alaska business to Hilcorp as a warning of how this shift to higher emitting producers could play out....
...Radiant aspirations were soon eclipsed by a catalogue of environmental disasters, including a pipeline leak in Alaska’s Prudhoe Bay in 2006 and the Deepwater Horizon oil spill of 2010....
...Future dealmaking could see remaining oil sands interests held by Total, Shell, BP, and Chevron — which no longer consider the region strategic — targeted for acquisition by Canadian operators, Mr Oberstoetter...
...Trans Alaska Pipeline....
...BP also revised up its estimated price of carbon dioxide to $100 a tonne from $40....
...Larger groups such as Imperial Oil, which is 69.2 per cent owned by ExxonMobil, Suncor Energy and Husky Energy, which has an oil sands joint venture with BP, often have pipeline capacity booked and their...
...(FT) News round-up BP to sell Alaska operations to Hilcorp for $5.6bn (FT) Ineos acquires French Ligue 1 football club Nice (FT) Deutsche Bank revamps treasury unit to combat negative rates (FT) Owner...
...The location of the spill also added to its emotional impact: the pictures of the oil fouling the pristine waters of Alaska shocked the world....
...Proving his point, Senators Lisa Murkowski from the oil state of Alaska, and Joe Manchin from the coal state of West Virginia, who once had a campaign ad showing him literally shooting at emissions cap and...
...BP said it still supported those positions, but did not believe the Washington state plan was well-designed....
...“The body of research is clear: firms with a diverse management team and pipeline make better decisions and drive innovation,” he said....
...Conoco in July announced a North Sea-for-Alaskan asset swap with BP....
...“Pipelines, power lines, bridge inspections, anything linear,” he said....
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