Energy Update
ATHENS, Sept 27 (Reuters) - Azerbaijan's state energy
company SOCAR has agreed to extend by a month a letter of
guarantee for its acquisition of Greek gas network operator
DESFA, the office of the Greek prime minister said on Tuesday.
Over the first eight months of this year, Spain averaged an impressive 47.2 percent renewable energy share in its generation mix.
LONDON, Sept 27 (Reuters) - Renewable energy will not be
cost competitive with fossil fuels until 2050, Glencore
said on Tuesday, much later than energy organisations forecast
and supporting the mining and trading giant's case for continued
investment in coal.
RIYADH/DUBAI, Sept 27 (Reuters) - A decision to slash
ministerial pay by a fifth reflects Saudi Arabia's resolve to
nudge its citizens into tolerating a fall in living standards at
a time of low oil prices.
Ross McCracken blogs on the Abu Dhabi Water and Electricity Authority, which confirmed in September that it had received the lowest bids ever for solar power.
TORONTO, Sept 27 (Reuters) - Ontario will scale back its
purchase of renewable power in a move expected to result in
savings of up to $C3.8 billion ($2.86 billion) from a 2013
forecast, the provincial government said on Tuesday.
WASHINGTON, Sept 27 (Reuters) - Oil services company
Weatherford International Plc agreed to pay a $140 million
penalty to settle charges that it inflated earnings by using
deceptive income tax accounting, the U.S. Securities and
Exchange Commission said on Tuesday.
LONDON, Sept 27 (Reuters) - Scotland wants to have more
detail about how the British government plans to leave the
European Union to prevent a "hard Brexit" that would severely
damage the economy, Scottish First Minister Nicola Sturgeon said
on Tuesday.
Sept 27 (Reuters) - Chesapeake Energy Corp said on
Tuesday that two board directors, including a representative of
activist investor Carl Icahn, resigned on Monday, a week after
Icahn more than halved his stake in the natural gas producer.
GRANGEMOUTH, Scotland, Sept 27 (Reuters) - Britain's first
shale gas delivery from the United States sailed into a heated
European political debate on fracking on Tuesday and immediately
ran into its first practical problem - the Scottish weather.
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