Energy Roundup: Hara Lands Coke Deal, Climate Bill Hurdles, Shell Slashes Senior Execs, and More

Carbon tracker start-up Hara lands Coke deal – Hara, the energy software management company formed by SAP and Oracle alumni, has struck a deal with Coke. Hara’s software, which Coke is expected to use throughout its operations, helps companies track and manage their energy and water consumption. The start-up’s early success and $6 million investment from venture capitalist firm Kleiner Perkins Caufield & Byers has fueled speculation that it is ripe for acquisition. [Source: Greentech Media, LA Times]

Up to 11 committees to weigh in on climate bill – Fresh off its victory with the House Energy and Commerce Committee, the Waxman-Markey climate and energy bill faces a number of new challenges — up to 11, actually. Various committees including Ways and Means, Agriculture and Science and Technology want to review and tweak the bill prior to a full House vote, which will come as early as the end of June. [Source: The Grist]

Shell to slash 30 percent of senior managers — Royal Dutch Shell will cut between 350 to 450 senior management positions as part of its recently unveiled restructuring plan. The job cuts, which will reduce its senior executive group by 30 percent, were announced through a Web site used used by Shell employees to post internal information. [Source: NYT, Royal Dutch Shell]

Oil revenues in Iraq’s Kurdistan to hit $20 billion in four years — Exports of oil from the Kurdistan Regional Government’s Tawke and Taq Taq fields began Monday, the first in more than 30 years from anywhere in Iraq produced by a foreign company.  The KRG expects to export 100,000 barrels a day from the fields and generate $20 billion in revenues within four years. Total exports from the region could reach 1 million within the same time frame. [Source: Platts]

Obama proposes funding cuts for wave, tidal energy research — Wave and tidal power research funding would see a 25 percent cut under a proposal issued by the Obama administration. Wave and tidal energy would be the only losers under the proposal, which seeks increases in funding for solar, wind and geothermal research. [Source: Kansas City Star]

Oil stockpiling hits global storage snag — Most countries are struggling to increase crude reserves because of a global shortage of storage facilities. At least one country, China, is expanding its capabilities for stockpiling oil with plans to build underground caverns and storage bases in inland regions. [Source: Bloomberg]