Business in brief: OPEC | Xstrata | Scottish Power | Shell

WORLD oil demand growth will slow in 2013 from the already weak 2012, Opec said yesterday, citing Europe’s debt worries, a faltering US economic recovery and deceleration of growth in emerging markets.

Appetite for oil is falling admits OPEC

The Organisation of the Petroleum Exporting Countries, which produces a third of global oil, said healthy output levels from non-Opec producers next year would be enough to cover the modest growth in demand without the need for Opec itself to increase output.

Analysts said they agreed with output forecasts and added it would not necessarily mean depressed oil prices in 2013.

Xstrata takeover vote in September

XSTRATA said shareholders will vote on 7 September on the miner’s planned takeover by Glencore, effectively giving the commodities trader and rival investor Qatar Holding six weeks to hammer out an agreement on the terms of the offer.

A vote initially scheduled for July was postponed after shareholder protests forced Xstrata last month to overhaul retention packages to tie in its top managers. Shareholders had objected to the mostly cash deals that were not linked to performance, and threatened to scupper the deal.

Wind farm data is on the radar

WIND farm developers in central Scotland are to be given access to data collected by ScottishPower’s £5 million radar station at Kincardine in a move that is expected to speed up renewable energy projects.

The Glasgow-based utility firm, which is owned by Spanish infrastructure giant Iberdrola, set up the radar facility in 2006 to help map air turbulence caused by its Whitelees wind farm south of Glasgow. Four developers, which between them are developing five sites in the Central Belt, will pay ScottishPower at “commercial rates” to use the data.

Shell in £48m deal to buy Gasnor LNG

OIL giant Shell yesterday bought Norwegian liquefied natural gas (LNG) producer Gasnor for $74 million (£48m).

The UK-Dutch company, which held a 4 per cent stake in Gasnor prior to the deal, said that the acquisition would lay the foundations for building up an LNG businesses to supply fuel to the transportation sector, including the marine market.

Ships using the Baltic Sea, English Channel and North Sea will be subjected to further European regulations in 2015, which will limit the amount of pollutants emitted, such as sulphur and nitrogen oxides.