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[waldron] 23/2/2018 09:18

Thursday 22 February 2018 4:47pm
BlackRock snaps up three UK solar assets for £15m with Lightsource BP
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Courtney Goldsmith
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BlackRock's solar portfolio is growing (Source: Getty)

US-based investment giant BlackRock has added 13.5 megawatts (MW) of solar assets to its growing UK renewables portfolio after agreeing a deal with partner Lightsource BP worth £15m.

Through its Kingfisher partnership with Lightsource, BlackRock Real Assets agreed to buy three solar assets from China-owned CTF Solar.

The acquisition was made through BlackRock's Renewable Income UK Fund, and Lightsource BP will be responsible for the asset management and long-term maintenance of all three sites, which are located at Wormit Farm in Fife, Scotland (5 MW), Stanton under Bardon Farm in Leicestershire, England (3.6 MW) and Gretton in Winchcombe, Gloucestershire (4.9 MW).

Read more: BlackRock is adding to its UK solar investments

BlackRock Real Assets manages more than $4.9bn (£3.5bn) of equity assets globally, including investments in more than 40 solar projects in the UK, representing about 350 MW of capacity.

“We are delighted to add these three solar project acquisitions to our growing UK solar portfolio," said Rory O'Connor, managing director and head of renewable power for Europe at BlackRock. He said the fund aims to continue building its portfolio of solar projects in the UK.

“Kingfisher has now established itself as one of the most competitive acquisition platforms in the UK for utility scale solar assets," said Paul McCartie, group chief investment officer of Lightsource BP.

Lightsource rebranded as Lightsource BP late last year after the British oil major announced it would invest $200m in the solar company over three years for a 43 per cent stake in the business.

[hellscream] 22/2/2018 17:43

loser Britain- lowest growth in the world
lowest pay growth in the world
lowest stockmarket growth in the world
lowest pensions in the world

but it payes the highest welfare in the world

[hellscream] 22/2/2018 15:26

non-EU citizens means African, right?, oh that explains why the markets never raise. someones gotta pay.

[hellscream] 22/2/2018 15:04

are we allowed to make money in this day of age?

[grupo] 22/2/2018 13:32

Why the Next Oil Boom Will be Fueled by Blockchain

FN Media Group Presents OilPrice.com News Commentary

News provided by
OilPrice.com

08:00 ET

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LONDON, February 22, 2018 /PRNewswire/ --

Big Oil is due for a disruption. The world's most important industry has been carrying on without any significant changes in its day to day routine for far too long. But now, the new tech on the block has its sights set on the multi-trillion-dollar oil and gas sector. Included in today's commentary: British Petroleum (NYSE: BP), Royal Dutch Shell (NYSE: RDS.A), Pengrowth Energy Corp. (NYSE: PGH), Pembina Pipeline Corp. (NYSE: PBA), TransCanada (NYSE: TRP).

It's official: Blockchain technology has infiltrated Big Oil. The hype behind blockchain has reached a full-blown frenzy. And for good reason.

The technology, which creates secure ledgers for digital transactions and rapidly accelerates the pace at which transactions can be made, has the potential to disrupt every major industry: real estate, shipping, banking and healthcare.

Blockchain is truly revolutionary, and Big Oil is finally catching on.

In an industry that has used technology to reduce breakeven costs to all-time lows, create gigantic drilling rigs run by robots, and even tap reserves located 10 miles below the sea, the oil and gas sector has been slow to jump on the blockchain bandwagon…until now.

According to a report from the World Economic Forum from 2017, a digital transformation has already swept across the energy industry.

Now, blockchain is taking it one step further.

Majors like BP and Shell are making headlines with plans to utilize blockchain tech to completely transform how energy is bought and sold.

Smaller players with big ambitions like Canada's Petroteq (PQEFF; PQE) are preparing to revolutionize the day to day operations of potentially every oil operation on the planet. Petroteq could utilize new technologies to tap massive new reserves of energy, such as the Utah oil sands, while radically reducing environmental risk.

With U.S. President Donald Trump planning a trillion dollar infrastructure program, the possibilities for upgrading American oil and gas systems throughout the country are immense.

Integrating blockchain into supply-line management and logistics could dramatically cut costs.

Major Innovation

The oil majors are waking up to blockchain possibilities.

BP began experimenting with blockchain technology in 2017. David Eyton, BP's head of technology, noted: "There are uses for blockchain that could give us a competitive advantage."

In BP's pilot program, the company began working with Italian supermajor Eni, and Austria's Wien Energie on a trading platform using blockchain technology.

And in November, BP joined a blockchain consortium with fellow industry heavyweights Shell and Statoil, in addition to commodity trading houses - Gunvor, Koch Supply & Trading, and Mercuria, with the financial backing of Dutch ABN Amro, ING, and French Societe Generale.

Patrick Arnaud, Managing Director for Trade & Commodity Finance, ING, said: "The commodity finance industry is hampered by nature by inefficiencies and outdated procedures. By applying blockchain technology, we expect that we can eliminate a lot of these, making the overall process faster and more cost effective."

Royal Dutch/Shell is taking it a step further, investing in a minority stake in the distributed ledger startup Applied Blockchain. The blockchain firm has created platforms across a range of sectors including telecom, manufacturing, and more.'

Petroteq and the Blockchain

While the supermajors are focused on trading, others are looking to the tech for far more creative endeavors.

Petroteq (PQEFF; PQE), a company that made waves in the sector with its revolutionary patented oil sands tech, has set out on a mission to completely overhaul the industry's inefficient and error prone supply chain management protocols.

Petroteq was recently cited by Geoffrey Cann, a Director at Deloitte specializing in the oil and gas industry, as a contender for blockchain technologies in the energy arena.

Oil and gas is a global endeavor in which huge inventories are held, ordered, transported, and distributed through multiple channels all over the globe. When things go wrong, productivity is slowed, production levels fall, and cargo is lost. This means billions in profit is potentially taken off the table.

And with the development of new energy sources such as shale gas, tight oil, oil sands, and coal seam gas reaching a critical mass, it's more important now than ever to rethink traditional supply chains.

This is the path on which Petroteq has embarked. And with the help of blockchain technology, the company is positioning itself as a leader in this race.

Petrobloq, Petroteq's very own blockchain consortium, is looking to reshape the industry. From drilling, to a finished petroleum-based product and everywhere in between, Petrobloq aims to track, monitor, and account for every drop of petroleum on a transparent, immutable, and secure blockchain.

The first member of the Petrobloq consortium is Latin America's second largest energy company, PEMEX, which made headlines as the first petroleum company to allow cryptocurrency as a payment option in participating gas stations. In joining the consortium, the company looks to soar to new heights.

Utilizing Petroteq's (PQE) technology, Mexico's national oil company will become one of the world's largest non-publicly traded companies to introduce a blockchain-based supply chain management platform. An endeavor which is set to bring PEMEX's processes from production to sale to an entirely new level, ushering in a new era of efficiency and profitability.

These heavy hitting partnerships will certainly disrupt the entire industry. Data will be shared seamlessly between joint ventures. The time it takes to cut a deal will be reduced significantly. And perhaps most importantly, the middle man essentially disappears, reducing costs for every sub-section of the industry.

American Energy Dominance

The dramatic improvements planned for U.S. infrastructure will incorporate innovations from companies like Petroteq.

President Trump announced a $1.5 trillion infrastructure plan at the State of the Union Address in January. That means billions will be invested into dilapidated oil and gas infrastructure.

The Trump Administration has made energy dominance a high priority. The Utah oil sands will play a huge part in advancing the future of American energy.

And Petroteq (PQEFF; PQE) has technology to unlock the full potential of the Utah fields and their 32 billion barrels of oil.

And unlike the dirty, expensive tar sands of Canada, Petroteq will be able to exploit the Utah oil sands in an environmentally-friendly, cost-effective way through their proprietary technology.

Once the fields of Utah are on-line, U.S. imports of oil from overseas, which are already in decline, could end altogether. The importance of Utah oil sands will push demand for it up and up, making it some of the most valuable oil on the market.

With its mastery of blockchain, Petroteq will be at the head of the pack. But its innovative drive forward is sure to be matched by other companies in the oil and gas sector.

In such a globally connected economy, the impact of transitioning to blockchain tech will be profound and will likely turn any industry on its head.

From oil majors like BP and Shell, to smaller innovators like Petroteq (PQE), massive potential is set to be unlocked in the oil and gas industry through the innovative use of new technology.

Oil and gas companies using tech to change the industry:

British Petroleum (NYSE: BP) is a multi-national oil and gas supermajor, and the sixth largest energy company on the planet. The company is over 100 years old and is not afraid of reinventing the wheel. And that's exactly what they're doing.

As blockchain forced its way into nearly every industry, BP took note. In October 2017, BP begun experimenting with a blockchain-based oil trading platform, with the goal of implementing "practical and ethical" uses of the technology.

With BP's forward-thinking mindset and vast amount of resources and assets, the company is always looking to learn about and adopt new technology.

Royal Dutch Shell (NYSE: RDS.A) is household name. As one of the largest energy companies on the planet, Shell knows the industry through and through. Shell also has its eyes on the blockchain industry. The company is no stranger to technology, and sees blockchain's clear benefits, and looks to become an early adopter within the industry.

With BP, Shell is leading a blockchain movement within the industry that is set to revolutionize the way oil and gas is bought and sold. Their platform is set to be launched by the end of 2018, and investors are clearly on the edge of their seats in anticipation.

Pengrowth Energy Corp. (NYSE: PGH): Another company that looks to have halted its falling stock price and is now preparing to ride the bullish sentiment in oil markets. Having shed a lot of excess weight this year in massive asset selloffs, investors can expect a much leaner and meaner Pengrowth in 2018.

For those investors who like to follow the smart money, billionaire investor Seymour Schulich bought millions of extra shares in Pengrowth in early October, boosting his position from 19 percent of the stock to 24 percent. He claims that he is confident that oil and gas is going up.

Pembina Pipeline Corp. (NYSE: PBA): The North American pipeline industry has had a tough year, but the recent approval of the Keystone XL pipeline route and the growing need for transportation capacity should act as a boon for the sector.

Pembina Pipeline Corp. has ridden the oil price crash in an impressive manner, maintaining a good stock price and increasing its dividend. This is a stock that pays you to wait, and as the sector continues to improve it is likely investors will see good gains here.

TransCanada (NYSE: TRP): is a major oil and energy company based in Calgary, Canada. The company owns and operates energy infrastructure throughout North America. TransCanada is one of the continent's largest providers of gas storage, and owns and has interests in approximately 11,800 megawatts of power generations.

With TransCanada's massive influence throughout North America, it is no wonder that the company is among one of Canada's highest valued energy companies. Investors can feel comfortable with the company due to its huge and diverse portfolio, and continuing eye for success.

By Michael Kern

[deanforester] 21/2/2018 17:58

Very true. I spent a lot of time studying how coal could replace oil and gas, effectively going back to the 1930s. Global warming hadn't been invented then.

[cliveb] 20/2/2018 17:53

Peak oil, again, I heard the story many years ago but then it was the opposite of what is being said now,
last time around it was that demand would outstrip supply, and we would all be in a terrible mess by 1987, and it had nothing to do with George Orwell,
But as Im sure you will appreciate, nothing at all happened, in fact quite the opposite was true,
a bit like global warming, from where I sit it is certainly cooler,
you should put some weight on the word "COULD" in the first line, and file it with similar words like MAYBE, PERHAPS, IF,

[waldron] 20/2/2018 16:47

Christopher Alessi

LONDON--Global demand for crude oil could peak in the next two decades, as renewables like solar power surge faster than expected to meet a greater share of the world's energy needs, BP PLC said Tuesday.

The world's appetite for oil and other liquid fuels could continue to grow until around 2035, hitting 110.3 million barrels a day--compared with 95 million barrels a day in 2015--before plateauing and falling off in the run up to 2040, the British oil-and-gas giant said Tuesday in the main future scenario, releasing its annual energy outlook.

Peak demand could represent a potential reckoning for energy companies that had grown accustomed to crude consumption growing almost every year for over a century. Already, BP, Royal Dutch Shell PLC and other companies have been investing more in natural gas, which has become a vital fuel for producing electricity, and experimenting with renewable production.

"The outlook here shows that the world is going to need all forms of energy," BP Chief Executive Bob Dudley said at a news conference Tuesday. "Gas has to be part of the transition, if not a destination fuel" for lowering carbon emissions.

BP's outlook shows peak-oil demand coming more quickly than it has forecast in the past. Until now, the company has said crude demand wouldn't stop growing until the 2040s.

Unlike competitors, BP releases annual forecasts making predictions about a range of issues including industry investment, supply and demand. Shell has said peak demand could come as soon as 2025 while Chevron Corp. and Exxon Mobil Corp. don't foresee a peak.

BP's central forecast assumes that current government policies, technology and societal preferences will evolve in the future similarly to how they have in recent years. Big recent changes have included countries like the U.K. and France planning severe restrictions on the combustion engine and a major push for electric vehicles in China.

BP stressed the central forecast was one of six possible scenarios, none of which it would endorse as most likely. All the scenarios show oil demand eventually peaking before 2040 and then declining.

In this scenario, renewable sources of energy would increase five-fold to provide around 14% of primary energy globally, contributing to the most diversified energy mix ever.

"By 2040, oil, gas, coal and non-fossil fuels each account for around a quarter of the world's energy. More than 40% of the overall increase in energy demand is met by renewable energy," said Spencer Dale, BP's group chief economist.

Oil consumption should grow by an average of 0.14% per year between 2016 and 2040, according to the BP scenario, compared with predictions of 0.19%, 0.12% and 0.17% annual oil growth consumption by, respectively, the U.S. Energy Information Administration, the International Energy Agency and the Organization of the Petroleum Exporting Countries.

Still, BP expects personal vehicles and industrial trucks "to be dominated by oil," with demand for the fuel comprising around 85% of total transport fuel demand in 2040, compared with 94% today. The majority of that demand should come from developing economies like China and India, BP said.

At the same time, BP's evolving transition scenario predicts the number of electric cars on the road will rise to roughly 320 million by 2040, accounting for about 30% of passenger vehicle kilometers. That increase should be bolstered by the emergence of fully-autonomous vehicles in the next decade, most of which are expected to be electrically powered.

BP's views on peak-oil demand aren't universally accepted in the industry. Last month at the World Economic Forum in Davos, Switzerland, Saudi energy minister Khalid al-Falih said oil demand would rise as high as 120 million barrels a day over the next two to three decades.

Write to Christopher Alessi at [e-mail]



(END) Dow Jones Newswires

February 20, 2018 11:25 ET (16:25 GMT)

[hellscream] 20/2/2018 15:22

what fear.. the glut is almost gone.

[tradejunkie2] 20/2/2018 14:00

Do you smell the fear?

[ladywormer] 18/2/2018 11:45

Peny - are you eyeing up anything? Your IG Index was a great call.

[grupo] 16/2/2018 12:29

BP and Total agree to accept each other’s fuel cards across Europe
John Wood · 16 February, 2018
BP company owned site

BP and Total have agreed a deal to accept each other’s fuel cards across Europe.

The agreement will see Total accept use of the BP/Aral fuel card at its network of stations in France, Belgium, Luxembourg, the Netherlands, Poland and Germany. In return, BP/Aral will accept Total’s fuel card at stations in Germany, the UK, Austria, Luxembourg, the Netherlands, Switzerland and Poland.

This means that both BP/Aral card and Total card will be accepted at an additional 4,000 stations.

“The extension of our acceptance network means that BP/Aral customers now have access to over 22,000 sites in 29 countries, in addition to data and technical support to manage their fleets,” said Guy Moeyens, BP chief operating officer fuels, Europe and southern Africa.

Benoît Luc, Total M&S senior vice president for Europe, added: “With this extension of our acceptance network we will be able to satisfy our professional customer needs and perfectly complement our card offer in Europe. It will also contribute to one of the key objective of Total Group: accompany our customers in their energy choices and be the partner of their mobility.”

[grupo] 16/2/2018 11:47

SGC project being implemented ahead of schedule - BP
16 February 2018 15:08 (UTC+04:00)

Baku, Azerbaijan, Feb. 16

By Leman Zeynalova - Trend:

The Southern Gas Corridor (SGC) project is being implemented ahead of schedule, BP Regional President for Azerbaijan, Georgia and Turkey Gary Jones said during a press conference in Baku Feb. 16.

He noted that the costs for implementation of the SGC project will be lower than the amount envisaged in the project budget.

Jones added that this is the biggest project implemented by BP.

The Southern Gas Corridor, worth $41.5 billion, is considered as one of the priority energy projects for the EU, which strives for diversification of gas sources. The project envisages the transportation of gas from the Caspian region to the European countries through Georgia and Turkey.

At an initial stage, the gas to be produced as part of the Stage 2 of development of Azerbaijan's Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. Other sources can also connect to this project at a later stage.

As part of the Shah Deniz Stage 2, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans-Anatolian Natural Gas Pipeline and Trans Adriatic Pipeline.

[tradejunkie2] 15/2/2018 22:03

Ir nearly got to 450p so don't doubt the market it will rip you apart. The market has no fear LOL

[alphorn] 15/2/2018 18:15

So will I. ;)

[karateboy] 15/2/2018 18:00

I will buy more if it gets to 440p. I doubt it very much it will.

[tradejunkie2] 15/2/2018 16:01

Back to 440p ladies.

[dogray123] 15/2/2018 10:25

Thanks Optomistic