Fri, Feb 27, 2015
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Market Moves, Oil, Resources more

HSBC: Oil majors at risk from ‘unburnable’ reserves

Posted on 30 January 2013

Oil and gas majors, including, BP, Shell, and Statoil, could face a loss in market value of up to 60 per cent should the international community stick to its agreed emission reduction targets, analysts at HSBC have warned.
A new report from the banking giant finds that 17 per cent of Norwegian company Statoil’s reserves would become “unburnable” in a world where oil and gas use falls as countries seek to keep carbon concentrations in the atmosphere to 450 parts per million (ppm), the level the International Energy Agency (IEA) estimates is necessary to deliver a 50 per cent chance of limiting long-term temperature rises to 2°C………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 39433 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
February 2015
S M T W T F S
« Jan    
1234567
891011121314
15161718192021
22232425262728