Shell Sells U.S. Shale Assets Following Charge
Royal Dutch Shell, Europe’s biggest oil firm, began a sale of its Eagle Ford shale project in Texas after being charged with a $2.1 billion impairment in the second quarter. The company also said that will divest its holding in the Mississippi Lime area in Kansas. The company last quarter booked an impairment charge mostly related to liquids-rich shale exploration in North America. Shell held about $24 billion in North American shale assets as of July. This development follows CEO Peter Voser’s announcement in August about plans to reduce the number of North American regions where it operates by half.
Jellyfish Forces Shut Down of Sweden’s Biggest Nuclear Plant
EON SE has shut down of 1,400 MW Oskarshamn -3 nuclear power plant after a swarm of jellyfish made its way into a cooling water inlet at the reactor on the Baltic coast. Located about 340 kilometer south of Stockholm, the nuclear plant is the biggest in Sweden and accounts 5 percent of the country’s power supply. EON, Germany’s biggest utility, owns 55 percent of the plant. This was not a first for EON as the German utility had to shut down Oskarshamn-1 last 2005 because of the same invasion.
Ikea to Sell Solar-Panel Kits in all U.K. Stores
Ikea, the biggest home-furnishing retailer, tied up with Hanergy Solar Group Ltd. to sell solar-panel systems in all of its 18 stores in the U.K. following a successful trial in July. Hanergy Solar will offer its thin-film panels, as well as consultation, installation and maintenance services. Ikea will offer the standard 3.36-kilowatt photovoltaic systems for 5,700 pounds ($9,200) upfront and will also offer an option to lease. The deal shows how photovoltaic power is moving into the mainstream in the U.K as price drops and state subsidies have doubled installations since the end of 2011.
Lufthansa Returns $68 Million of Unused EU Carbon Allowance
Deutsche Lufthansa AG, the second-largest airline in Europe, returned 50 million euros ($68 million) of unused European Union carbon permits after the bloc suspended its cap on international flight emissions. Originally, the EU required airlines to submit one emission permit for every metric ton of carbon dioxide they discharge or pay a fine. More than 400 aircraft operators worldwide were exempted from the pollution limits for a year following protests from other countries. The unused allowances for 2012 will be re-sold to the market as permits valid for the period from 2013 through 2020.