On 29 January 2015, Royal Dutch Shell confirmed that it intends, subject to regulatory approval, to resume its US Arctic drilling programme at a cost for 2015 of at least $1bn. To date, Shell's Arctic programme has been a failure despite capital expenditure in excess of $6bn. 2012's drilling season beset by multiple operational failings was followed by a 'pause' for 2013 and a forced reversal of 2014 plans because of a US court decision.
Investors will soon be offered further equity (an FPO of 10 per cent) in the Indian Government majority-owned Coal India Limited (CIL).
This FPO will likely position investing in Coal India as an “opportunity” for investors in a robust emerging market, on the basis of widely held assumptions regarding India’s continued reliance on thermal coal for power generation; and it having among the largest, lowest priced coal resources in the world.
