Winter X Games Europe 2013 - Day 4

Major Norwegian pension fund Storebrand recently “divested its financial interests in 13 coal extractors and six companies heavily involved in oil sands extraction.”  The financial services company instituted a “no loan” policy for any company involved in “extreme” fuel extraction. Is that the energy equivalent of snowboard super pipe? [The Energy Collective]

At first glance many had never heard of Shell’s choice to replace CEO Peter Voser. But a deeper dive into company lifer Ben van Beurden’s CV clarifies the decision. Here’s a hint, it has a lot to do with natural gas. [FT]

National oil company Qatar Petroleum – one of the world’s largest natural gas reserve holders – is being spun off from the Energy Ministry in order to streamline the enterprise and speed up the decision-making process. “In many ways it (the plan) would increase efficiency,” a source at Qatar Petroleum said. “The rationale behind the desire for international growth is the moratorium, as the growth potential at home is limited.” The Gulf Opec country placed a moratorium on new projects until 2015 due to concerns about depleting its massive gas reserves too quickly. Qatar looks to face stiff competition in the global LNG market by 2015, however, when export projects are expected to start up in the US and Australia. Spinning the company off from the ministry would allow the firm to operate more freely, but questions remain over how several joint ventures with major oil companies might be handled. [Reuters]