New base special 24 march 2014

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Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content . Page 1 NewBase 24 March 2014 Khaled Al Awadi NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE BofA expands LNG trading with deal to sell cargoes to Dubai Bloomberg London Bank of America Corp is expanding liquefied natural gas trading with a plan to sell its first cargoes to the Pacific region. Merrill Lynch Commodities (Europe) signed a multi-year agreement with Dubai Supply Authority to supply LNG cargoes ex-ship to a floating storage and regasification unit in Jebel Ali, Dubai, starting this summer, BofA said in an e-mailed statement. The bank will also start small-scale LNG deliveries from the Gate terminal in the Netherlands to the Baltic region this summer under a deal signed in 2013, it said. “The bank’s core LNG business has so far included supplies to the Atlantic basin customers, such as LNG deliveries into Gate, as well as LNG reloads from Spain,” Gabriel Gonzalez Laguna, director of LNG trading and origination in London, said by phone last week. “Small-scale LNG is a way of diversifying our core business in Europe.” The expansion of LNG operations comes as the bank said in January it was withdrawing from Europe’s power and natural gas markets as opportunities shrink and increased regulation curbs trading. Deutsche Bank and Morgan Stanley also cut back. LNG traders from the fuel producers such as BG Group to utilities such as RWE to banks are seeking to expand operations to benefit from price differences between Asia and Europe, and in anticipation of US LNG exports starting. The Arctic Lady LNG tanker is seen at the Gate LNG terminal in Rotterdam, Netherlands. BofA will also start small-scale LNG deliveries from the Gate terminal to the Baltic region this summer under a deal signed in 2013, it said.

Transcript of New base special 24 march 2014

Page 1: New base special  24 march 2014

Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,

redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained

in this publication. However, no warranty is given to the accuracy of its content . Page 1

NewBase 24 March 2014 Khaled Al Awadi

NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE

BofA expands LNG trading with deal to sell cargoes to Dubai Bloomberg London

Bank of America Corp is expanding liquefied natural gas trading with a plan to sell its first cargoes to the Pacific region. Merrill Lynch Commodities (Europe) signed a multi-year agreement with Dubai Supply Authority to supply LNG cargoes ex-ship to a floating storage and regasification unit in Jebel Ali, Dubai, starting this summer, BofA said in an e-mailed statement.

The bank will also start small-scale LNG deliveries from the Gate terminal in the Netherlands to the Baltic region this summer under a deal signed in 2013, it said.

“The bank’s core LNG business has so far included supplies to the Atlantic basin customers, such as LNG deliveries into Gate, as well as LNG reloads from Spain,” Gabriel Gonzalez Laguna, director of LNG trading and origination in London, said by phone last week. “Small-scale LNG is a way of diversifying our core business in Europe.”

The expansion of LNG operations comes as the bank said in January it was withdrawing from Europe’s power and natural gas markets as opportunities shrink and increased regulation curbs trading. Deutsche Bank and Morgan Stanley also cut back.

LNG traders from the fuel producers such as BG Group to utilities such as RWE to banks are seeking to expand operations to benefit from price differences between Asia and Europe, and in anticipation of US LNG exports starting.

The Arctic Lady LNG tanker is seen at the Gate LNG terminal in Rotterdam, Netherlands. BofA

will also start small-scale LNG deliveries from the Gate terminal to the Baltic region this summer under a deal signed in 2013, it said.

Page 2: New base special  24 march 2014

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Gas demand in Middle East, now the world’s biggest LNG producing region, is increasing due to higher use of the fuel for power generation. UAE natural gas demand may climb 6.1% by 2025 from last year, while supply grows 3.7%, Sanford C Bernstein & Co said in October.

The Gate LNG terminal near Rotterdam, built for imports of the fuel in 2011, has been used for reloads since September as demand for the fuel in north-western Europe declined. Demand for small-scale LNG, used in industrial, land and marine transport sectors, may increase in Europe as a way to cut fuel costs and comply with the region’s environmental regulations.

“The agreement signals continuing momentum behind MLCE’s LNG business,” Bank of America said in the statement. The bank also provides risk management and lending in the LNG business.

About Dubai LNG Regasification terminal :-

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Planned coal-fired power plant retirements continue to increase Principal contributor: Elias Johnson , eia.

The need to comply with the Environmental Protection Agency's (EPA) Mercury and Air Toxics Standards (MATS) regulations together with weak electricity demand growth and continued competition from generators fueled by natural gas have recently led several power producers to announce plans to retire coal-fired facilities.

Between 2012 and 2020, about 60 gigawatts of coal-fired capacity is projected to retire in the AEO2014 Reference case, which assumes implementation of the MATS standards, as well as other existing laws and regulations. The recently announced 5.4 gigawatts of retirements reflect particular strategies of coal plant operators and provide a view of some key drivers in coal plant retirement decisions.

Tennessee Valley Authority. On November 14, 2013, the Tennessee Valley Authority (TVA) announced that it was retiring eight coal-fired units with nearly 3,000 megawatts (MW) of generating capacity. Two units at TVA's Paradise Fossil Plant (1,230 MW), Unit 8 at the Widows Creek Fossil Plant (465 MW), and all five units at its Colbert Fossil Plant (1,184 MW) are now slated for retirement. The current retirement plans are an addition to TVA's previously reported retirement plans announced in 2011. TVA officials gave no fixed dates for the planned retirements, but they stated that the units will not operate beyond the MATS implementation date (April 2015).

South Carolina Electric & Gas. South Carolina Electric & Gas (SCEG) announced that it had ceased operations at its Canadys Station generating facility earlier in November. The 295-MW plant's closing is part of SCEG's efforts to reduce emissions and to comply with MATS regulations that are scheduled to take effect in 2015. SCEG originally planned to convert the units to natural gas before retiring them in 2018.

Consumers Energy. Consumers Energy (CE) petitioned the Michigan Public Service Commission (MPSC) to approve a bond issue to cover costs pertaining to the closure, decommissioning, and demolition of three coal-fired power plants. The facilities, Units 4 and 5 of the B.C. Cobb Plant (312 MW), Units 7 and 8 of the

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J.C. Weadock Plant (310 MW), and Units 1, 2, and 3 of the J.R. Whiting Plant (325 MW), would cease operations by April 2016. CE stated that the units would be shut down because the installation of additional emissions controls necessary to achieve compliance with EPA environmental regulations would be uneconomical. It was announced on December 3, 2013, that MPSC had approved the bond issue.

Energy Capital Partners. New Jersey-based Energy Capital Partners (ECP) filed paperwork with the Independent System Operator of New England (ISONE) to close the Brayton Point generating facility in 2017 after it failed to reach a deal on a new power-purchase agreement. Brayton Point currently has agreements with ISONE through May 30, 2016. ISONE voted to reject the retirement of the coal-fired units on December 19, 2013, after which the company stated it would go forward with plans to retire all units. Three of the four Brayton Point generating units, totaling about 1,084 MW, are coal-fired; the remaining 435 MW of generator capacity are powered by oil or natural gas. ECP had just recently finalized the purchase of the 1,520-MW facility from Dominion Resources in September 2013.

Georgia Power. Georgia Power (GP) announced that it planned to file a request with the Georgia Public Service Commission (GPSC) to decertify Unit 3 at its Mitchell generating facility. If approved by the GPSC, GP plans to retire the 155-MW unit before the end of April 2015. GP had proposed to convert the unit to use biomass, but the conversion was determined not to be cost effective.

NewBase comments :-

It has been known that the UAE will have its own access to coal in Indonesian mines, thus coal could be shipped to UAE with 50% less cost than the international prices ( currently 3.0 U$D/MMBTU ) . This gives them a wide door to buy the old coal power plant from US companies and install them in RAK or Ajman for example , along with a heat recovery unit for water desalination . Once this achieved the cost of power generated in these plant will be less than Dhs. 0.20/kwh.

Now we could make a use from the US emission laws that forces power operators to reduce emissions or face fines , this law could be enforced in the UAE after 10 years , thus the life remaining in these old US coal fired plant is longer than 10 years , making such investment worthwhile and worth every dollar spent .

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in this publication. However, no warranty is given to the accuracy of its content . Page 5

Cristal titanium factory to open in mid-2014, first in Middle East http://www.saudigazette.com.sa/index.cfm?method=home.regcon&contentid=20140324199648

Tasnee and Cristal Global celebrated the graduation of 170 young Saudis from Jazan in the first training program introduced by Cristal Academy. The graduation qualified the young men to join work in Cristal Ilmenite Slagger in Jazan Economic City that will cost $550 Million. On behalf of Jazan, Emir Prince Mohamed bin Naser bin Abdulaziz Al Saud, Dr. Abdullah Al Swayed, Jazan Emirate Deputy, attended the celebration held on March 2014, in attendance of Dr. Talal A. Al Shaer, Vice Chairman of Tasnee and Chairman & CEO of Cristal Global, and Engineer Jamal Nahhas, Cristal President. Dr. Al Swayed delivered certificates and granted gifts to the trainees holding the Engineering BSc, secondary certificates, technical secondary certificates.

Dr. Al Swayed congratulated the whole graduates wishing more opportunities granted by companies to Saudi citizens. He also thanked Dr. Al Shaer for celebrating the occasion and announcing the program. Dr. Al Shaer expressed his deep gratitude and appreciation to Dr. Al Swayed for honoring and attending the celebration that included the region’s people to achieve all the best for all. Dr. Al Shaer also acknowledged to the attendees Cristal history through a documentary film. He also gave a brief introduction to the training program in Jazan Slagger project showing the job opportunities offered by Cristal.

Dr. Al Shaer said Cristal Academy is an educational organization targets enabling the individuals and work teams, develop their practical and technical skills, and give them detailed information about titanium industry all over the world. There are 3 facilities in the academy introducing 1500 training courses, 500 online courses, introduced by 60 trainers and 10 experts having variety of knowledge.

Omar Al Najjar, Cristal VP-HR, said that Cristal requires self-sufficiency of labor by arming the Saudi labor with global skills that make them able to lead the company to the future.

Engineer Jamal Nahhas, Cristal president, announced that the factory will start work in mid of 2014 to be the first of its kind in Saudi Arabia and the Middle East. The factory will process the raw material of ilmenite to be transferred to a high-quality titanium dioxide 85-92 percent to be used in titanium dioxide pigments that is widely and daily used to produce many products like paints, papers, plastics, inks, rubber and others. The Finnish Toho Titanium Company will offer Cristal Slagger in Jazan Economic City the best technologies for smelting Ferro-alloys (slags) that complies the European Union Standards.

The Slagger will start production with 500,000 tons of titanium slag in addition to 230,000-235,000 tons of iron to be used as a feedstock for local iron factories for the first time in Saudi Arabia and the Middle East. Cristal expansion plans in the future to increase the slagger production capacity to 1 million tons.

Tasnee and Cristal Global celebrate the graduation of 170

young Saudis who will join the company in its slagger

project in Jazan.

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The slagger will enable Cristal to be strong competitor in market and enable it to cover the international shortage Titanium Dioxide Slag in the next few years. Cristal mines of row material in Australia will offer the ilmenite metal for the slagger, and the local facility will offer Titanium metal locally for the first time in Saudi Arabia.

According to Cristal expectations 75 percent of jobs offered by the slagger and 570 jobs in the facility in the next 5 years will be introduced to Saudis. Tasnee has the biggest share of 66 percent in Cristal and is considered as a pioneer in nationalizing jobs (Saudization) through its multiple projects especially its newest projects in Hail Economic City that include 4 factories with investment of SR500 million. — SG

NewBase , Comments About Titanuim Applications :-

Titanium is used in steel as an alloying element (ferro-titanium) to reduce grain size and as a deoxidizer, and in stainless steel to reduce carbon content. Titanium is often alloyed with aluminium (to refine grain size), vanadium, copper (to harden), iron, manganese, molybdenum, and with other metals. Applications for titanium mill products (sheet, plate, bar, wire, forgings, castings) can be found in industrial, aerospace, recreational, and emerging markets. Powdered titanium is used in pyrotechnics as a source of bright-burning particles.

Pigments, additives and coatings , Aerospace and marine, Consumer and architectural, Jewelry,

Medical, Nuclear waste storage and many Industerial usages such as Welded titanium pipe and process equipment (heat exchangers, tanks, process vessels, valves) are used in the chemical and petrochemical industries primarily for corrosion resistance. Specific alloys are used in downhole and nickel hydrometallurgy applications due to their high strength (e. g.: titanium Beta C alloy), corrosion resistance, or combination of both. The pulp and paper industry uses titanium in process equipment exposed to corrosive media such as sodium hypochlorite or wet chlorine gas (in the bleachery). Other applications include: ultrasonic welding, wave soldering, and sputtering targetsTitanium tetrachloride (TiCl4), a colorless liquid, is important as an intermediate in the process of making TiO2 and is also used to produce the Ziegler-Natta catalyst, and is used to iridize glass and because it fumes strongly in moist air it is also used to make smoke screens.

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redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained

in this publication. However, no warranty is given to the accuracy of its content . Page 7

Premier Oil to speed sail with Sea Lion offshore Flaklands Islands http://www.2b1stconsulting.com/premier-oil-to-speed-sail-with-sea-lion-offshore-flaklands-islands/

The Texas-based Houston Offshore Engineering (Houston Offshore) is currently completing the pre-front end engineering and design (pre-FEED) work for the Sea Lion project offshore the Falklands Islands to be developed by the UK companies Premier Oil plc (Premier Oil) and Rockhopper Exploration plc (Rockhopper).

The Sea Lion oil and gas discovery belongs to the production licences PL032 and PL033 in the North Falklands Basin approximately 200 kilometers north of the Falklands Islands. Located in the South Atlantic, approximately 500 kilometers offshore Argentina coast line , the Falklands Islands is a constellation of more than 300 islands.

In 1998, the first wells were drilled in the North Falklands Islands Basin and indicated the presence of crude oil and natural gas reservoirs.

But the low barrels prices at that period of time and lack of infrastructures in the region could not make these first discoveries commercially viable. In 2010, Rockhopper started the exploration of the North Falklands Basin after extensive 2D and 3D seismic survey and drilled the successful Sea lion exploratory well on the same year.

Lying by 450 meters of water depth, Sea Lion was registered as the first contingent oil and gas resources in the North Falklands Islands. Out of the following ten exploratory and appraisal wells drilled by Rockhopper, seven hit crude oil, confirming potential upsides of the North Falklands Islands Basin.

In this positive context, Rockhopper agreed in July 2012 to farm-out Sea lion and to transfer operatorship to Premier Oil.

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As a result of the farm-out agreement Premier Oil and Rockhopper will share the working interests in such a way:

- Premier Oil 60% is the operator

- Rockhopper 40%

In taking the lead of the joint venture, Premier Oil geared up the development of the Sea Lion project in appointing Houston Offshore for the conceptual study.

Premier Oil to award FEED for Sea Lion Phase-1 TLP

According to the size of the of the oil and gas field and the distance between the production licences, Houston Offshore pre-FEED recommended to proceed in phases to develop Sea Lion.

With Sea Lion Phase-1, Premier Oil and Rockhopper would focus on the north of the Sea Lion field and would install the main production infrastructures.

This first phase of the Sea Lion Project should require an investment of $5.2 billion capital expenditure including:

- $1.7 billion for the drilling operations

- $3.5 billion for the production assets

For this Sea Lion Phase-1 the first studied concept of the pre-FEED was based on a

conventional solution using a floating production storage and offloading (FPSO) vessel.

But the corresponding costs estimates led Premier Oil and Rockhopper to look for alternative solutions. Considering the 450 meters of water depth, Premier Oil and Rockhopper turned their attention on a tension legs platform (TLP).

But with the topsides to weight 48,000 tonnes, Premier Oil is preparing the build one of the largest TLP in the world.

Willing to speed sail on the Sea Lion Phase-1 project Premier Oil and Rockhopper should award the front end engineering and design (FEED) on mid-2014 in order to start first production in North Falklands Islands Basin by 2018.

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Nigeria approves Panoro Energy's FDP for the Aje field in OML 113 Source: Panoro Energy

Panoro Energy has announced that a Field Development Plan (FDP) to develop the Aje field has been approved by the Department of Petroleum Resources (DPR) in Nigeria. Panoro has also announced that the Joint Venture partners expect to commence a new 3D seismic acquisition program over the OML113

licence.

Aje is an offshore field located in the western part of Nigeria in the Dahomey Basin. The field is situated in water depths ranging from 100 to 1,000 meters about 24 km from the coast. Panoro Energy holds a 6.502% participating interest in OML113 (with a 12.1913% revenue interest and 16.255% paying interest in the Aje Field). The Aje field contains hydrocarbon resources in sandstone reservoirs in three main levels - a Turonian gas condensate reservoir, a Cenomanian oil reservoir and an Albian gas condensate reservoir.

The Aje FDP was submitted to DPR by the OML 113 joint venture partners earlier this year, and approval to develop Aje as proposed in the FDP has now been granted. The FDP is primarily focused on the development of the Cenomanian Oil reservoir and in the first phase of development includes two subsea production wells, tied back to a leased FPSO.

These wells will comprise the recompletion of the existing Aje-4 well, and a new well drilled to the Aje-2 subsurface location. The Aje-2 well demonstrated high productivity in a Cenomanian production test conducted in 1997, flowing approx. 3700 bopd of 41°API oil even though the well had sustained significant productivity impairment during drilling operations. The FDP envisages first oil commencing in Q4 2015 with mid-case reserves of 32.4MMbbl. The Aje Joint Venture partners will take a Final Investment Decision shortly. Future phases of the project will likely target additional Cenomanian wells and a later Turonian/Albian gas condensate project is currently considered as a separate development in the future

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Panoro has also announced that the Joint Venture partners in the OML 113 license are about to commence a new 3D seismic survey over the OML 113 license offshore Nigeria. The survey is being carried out by Polarcus as a part of joint acquisition program in combination with the neighboring block OPL 310 to the east, where significant discoveries were made in 2013. First Hydrocarbon Nigeria Ltd (a Joint Venture Partner on the OML 113 license) will, through their parent company Afren, manage the seismic acquisition operations and subsequent processing and interpretation of the seismic data.

The Aje field and many of the leads in OML 113 are already covered by a 3D seismic survey acquired in 1997, however it is expected that the new survey will provide a considerable improvement in data quality over the existing 3D data. It is envisaged that the data will enable better development planning for the second phase of development drilling on Aje and provide improved data to fully evaluate the exploration potential over the whole of the OML 113 license, including the exciting synrift exploration play that was significantly de-risked though the discovery made in OPL 310. The survey is expected to be completed by end of May 2014.

Panoro Energy ASA has a 6.502% interest in OML113 which is operated by Yinka Folawiyo Petroleum (YFP) and is located in the extreme western part of offshore Nigeria adjacent to the Benin border.

The licence contains the Aje field as well as a number of exploration prospects. Aje Field was discovered in 1997, in water depths ranging from 100-1500m. Unlike the majority of Nigerian Fields which are Tertiary sandstones, Aje has multiple oil, gas and gas condensate reservoirs in the Turonian, Cenomanian and

Albian sandstones, and as such has more affinity with the recent Jubilee and Tweneboa discoveries offshore Ghana. Four wells have been drilled to date on the Aje Field. Aje-1 and -2 tested oil and gas condensate at high rates. Aje-4, drilled in early 2008, logged significant pay and confirmed the presence of four productive reservoirs. The Aje Field has full 3D seismic coverage.

The Aje Field development is being managed by Chevron, as Technical Advisor to YFP. There is a unique gas sales opportunity available to the partnership, which also includes Vitol and Providence Resources, via access to the West Africa Gas Pipeline (“WAGP”). The WAGP was commissioned in May 2009 to provide Nigerian gas to end-users in Benin , Togo and Ghana , and is routed directly through OML113, only 5km from the Aje Field. The location of the Aje field only 43km south west of Lagos may also provide a ready market for gas and associated LPG’s.

Page 11: New base special  24 march 2014

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Meet the world’s largest crane vessel

Heerema Marine Contractors (HMC) recently signed a Letter of Intent with Huisman Equipment for the design and construction of two powerful cranes for its planned New Semi-submersible Crane Vessel (NSCV).

Each crane will be capable of lifting 10,000 tonnes in revolving mode, making them the largest offshore cranes in the world. The cranes, so-called tub cranes, will be based on a large bearing, similar to cranes Huisman built for HMC’s Aegir. Eac h crane will be able to lift 10,000 tonnes at a 48 meters radius under offshore conditions. The boom will have a length of 145 meters and with the boom up, it will reach a height of 210 meters above the waterline. Huisman’s innovative approach was a contributing factor in HMC’s decision to sign the LOI.

World’s largest crane vessel

With these two cranes and overall dimensions of 214 meters in length and 97.5 meters in width, the NSCV will become the world’s largest semi-submersible crane vessel. CEO Jan-Pieter Klaver stresses that HMC will evaluate various shipyards for the construction of the hull in the second half of this year before a final investment decision will be taken. In line with HMC’s strong focus on Health and Safety Regulations, the design of the vessel must meet the highest health and safety standards with minimal environmental impact both during fabrication and operation. The NSCV will be deployed globally and will be self-propelled with a transit speed of 10 knots, faster than any other currently operational crane vessel. The vessel’s hull configuration consists of a large deckbox mounted on an eight-column structure mounted on two pontoons. Earlier, HMC signed a Basic Design contract with KBR subsidiary GVA for the development of the new crane vessel.

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In a shift, Exxon Mobil agrees to report on risks to its fossil fuel assets Source Exxon Mobil

Energy companies have been under increasing pressure from shareholder activists in recent years to warn investors of the risks that stricter limits on carbon emissions would place on their business. On Thursday, a shareholder group said that it had won its biggest prize yet, when Exxon Mobil became the first oil and gas producer to agree to publish that information by the end of the month.

In return, the shareholders, led by the wealth management firm Arjuna Capital, which focuses on sustainability, and the advocacy group As You Sow, said they had agreed to withdraw a resolution on the issue at Exxon Mobil’s annual meeting. Exxon declined to comment, but an email exchange with the company provided by the shareholder groups confirmed the agreement.

The shift is a sign of a growing acceptance among investors and companies that the value of fossil fuel assets may be out of line with evolving policies on global warming.

For example, oil reserves deep in the Gulf of Mexico are much more expensive to extract, and would

become uneconomical if carbon emissions were reduced by as much as 80 per cent, a goal articulated by

President Barack Obama.

“These two goals” — extracting a company’s reserves, and reducing carbon emissions — “are in conflict and unlikely to be able to coexist going forward,” said Allen Good, an oil company analyst at Morningstar. “There certainly is an awareness out there of it.”

Restrictions

In addition to showing how it will assess the risks to its portfolio, Exxon Mobil also agreed to say how further restrictions on carbon emissions would affect the projects it intends to invest in and to explain why new fossil fuel reserves in which it invests are not at risk of losing value, the shareholder groups said.

“That the largest American oil and gas company is the first to come to the table on this issue says a lot about the direction that energy markets are taking,” said Danielle Fugere, president of As You Sow. “Investors need transparency and disclosure about these company choices.”

The agreement comes after one in January by the large electric company FirstEnergy and is part of an effort by Ceres, a coalition of environmentalists and investors, to make companies more environmentally responsive.

Also Thursday, Denise L. Nappier, the Connecticut state treasurer, said that Peabody Energy, a Missouri-based coal company, had agreed to produce a similar report in exchange for withdrawing a shareholder resolution filed by the Connecticut Retirement Plans and Trust Funds.

Climate policy

The Ceres campaign began last fall with a letter from shareholders representing $3 trillion (Dh11 trillion) in assets to 45 of the largest fossil fuel companies asking for more information about whether and how they were addressing the risks posed to their assets by changing climate policy. Two-thirds of the companies agreed to respond by this spring, said Andrew Logan, director of the group’s oil and gas and insurance programmes.

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After that, shareholders filed proposals at almost a dozen companies, most of which have yet to strike a public agreement, including Hess, Kinder Morgan and Chevron.

Investors have been pressuring corporations into action on climate change, and a movement to persuade universities, foundations and governments to rid themselves of investments in fossil-fuel companies has had some successes. Two billionaires — Michael R. Bloomberg and Tom Steyer — have started an effort called Risky Business, which includes former Treasury secretaries Henry M. Paulson Jr, Robert E. Rubin and George P. Shultz, to assess the economic risks posed if climate change is left unaddressed.

In the 2013 proxy season, shareholder submissions grew more than 6 percent compared with the previous year, with environmental and social proposals representing the largest category, at just under 40 percent, according to a report from Ernst & Young.

Page 14: New base special  24 march 2014

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NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE

Your partner in Energy Services

Khaled Malallah Al Awadi, MSc. & BSc. Mechanical Engineering (HON), USA ASME member since 1995 Emarat member since 1990

Energy Services & Consultants Mobile : +97150-4822502

[email protected]

[email protected]

Khaled Al Awadi is a UAE National with a total of 24 Khaled Al Awadi is a UAE National with a total of 24 Khaled Al Awadi is a UAE National with a total of 24 Khaled Al Awadi is a UAE National with a total of 24

yearsyearsyearsyears of experience in theof experience in theof experience in theof experience in the OOOOil & Gas sector. il & Gas sector. il & Gas sector. il & Gas sector.

Currently working as Technical Affairs Specialist for Currently working as Technical Affairs Specialist for Currently working as Technical Affairs Specialist for Currently working as Technical Affairs Specialist for

Emirates General Petroleum Corp. “Emarat“ with external Emirates General Petroleum Corp. “Emarat“ with external Emirates General Petroleum Corp. “Emarat“ with external Emirates General Petroleum Corp. “Emarat“ with external

voluntary Energy consultation for the GCC area via Hawk Energy voluntary Energy consultation for the GCC area via Hawk Energy voluntary Energy consultation for the GCC area via Hawk Energy voluntary Energy consultation for the GCC area via Hawk Energy

Service as a UAE operations base , Most of the experience werService as a UAE operations base , Most of the experience werService as a UAE operations base , Most of the experience werService as a UAE operations base , Most of the experience were e e e

spent as the Gas Operations Manager in Emarat , responsible for spent as the Gas Operations Manager in Emarat , responsible for spent as the Gas Operations Manager in Emarat , responsible for spent as the Gas Operations Manager in Emarat , responsible for

Emarat Gas Pipeline Network Facility & gas compressor stations . Emarat Gas Pipeline Network Facility & gas compressor stations . Emarat Gas Pipeline Network Facility & gas compressor stations . Emarat Gas Pipeline Network Facility & gas compressor stations .

Through the years , he has developed great experiences in the Through the years , he has developed great experiences in the Through the years , he has developed great experiences in the Through the years , he has developed great experiences in the

designing & constructingdesigning & constructingdesigning & constructingdesigning & constructing of gas pipelines, gas metering & rof gas pipelines, gas metering & rof gas pipelines, gas metering & rof gas pipelines, gas metering & regulating stations and in the engineering of supply routes. Many years were spent egulating stations and in the engineering of supply routes. Many years were spent egulating stations and in the engineering of supply routes. Many years were spent egulating stations and in the engineering of supply routes. Many years were spent

drafting, & compiling gas transportation , operation & maintenance agreements along with many MOUs for the local authoritiesdrafting, & compiling gas transportation , operation & maintenance agreements along with many MOUs for the local authoritiesdrafting, & compiling gas transportation , operation & maintenance agreements along with many MOUs for the local authoritiesdrafting, & compiling gas transportation , operation & maintenance agreements along with many MOUs for the local authorities. He has . He has . He has . He has

become a reference for many of the Oil &become a reference for many of the Oil &become a reference for many of the Oil &become a reference for many of the Oil & Gas Conferences held in the UAE andGas Conferences held in the UAE andGas Conferences held in the UAE andGas Conferences held in the UAE and Energy program broadcasted internationally , via GCC Energy program broadcasted internationally , via GCC Energy program broadcasted internationally , via GCC Energy program broadcasted internationally , via GCC

leading satelliteleading satelliteleading satelliteleading satellite ChannelsChannelsChannelsChannels . . . .

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NewBase 24 March 2014 K. Al Awadi