Shell may be forced to quit Nigeria

Shell ‘Could Quit Nigeria’

Royal Dutch/Shell could be forced to leave Nigeria by 2008 because of violence in the oil-producing Niger Delta region, a study funded by the group shows.

The study, conducted by a team of experts on the region, also found that Shell inadvertedly fed the conflict in the Niger Delta.

ananova

Tip-off foils new Iraq oil sabotage

“US soldiers have foiled a new sabotage attempt against Iraq’s key oil sector following three successful attacks earlier in the week, the US military says.”

ABC

Schr

“Speaking in Sea Island on Wednesday, Chancellor Schr

Chemical groups pay the price as oil spirals

“The $1,600bn chemicals industry feeds virtually every sector of the manufacturing economy from PVC in cables and pipes, through engineering plastics in cars and trucks, through construction coatings, pharmaceutical ingredients and agrochemicals, to the electronics industry. And about half of its products are made from oil.

Financial Times

Largest rise in demand for oil in two decades

“Oil demand for 2004 is now likely to be 2.3 million barrels per day more than in 2003, according to IEA estimates. This would be the steepest increase in demand since 1980. ”

TIMES ONLINE

Oil climbs; IEA ups demand growth forecast

“SAN FRANCISCO (AFX) — The International Energy Agency raised its forecast on oil demand growth for the year, lifting crude-oil futures back toward the $38-per-barrel level. The agency raised its world crude-oil demand growth forecast by 360,000 barrels per day to 2.3 million barrels, taking the overall demand estimate to 81.1 million barrels per day for 2004, according to Tim Evans, a senior analyst at IFR Energy Services. July crude is up 33 cents at $37.87 per barrel on the New York Mercantile Exchange. This story was supplied by CBSMarketWatch. For further information see ”

FX Street

Nigerian Oil Strike Continues for Second Day

“A general strike protesting high fuel prices in Nigeria is in its second day and there are reports of violence in the capital, Abuja. ”

VOA

Another oil pipeline blown up

“BAGHDAD – Saboteurs blew up a key northern oil pipeline in Iraq, forcing a 10 per cent cut on the national power grid as demand for electricity rose with the advent of broiling summer heat. ”

TST

Attacks on oil facilities cost Iraq dearly

“Iraq has lost more than $US200 million over the past seven months due to 130 attacks on its oil pipelines, Prime Minister Iyad Allawi says.

He blames terrorists and foreign fighters for targeting the vital industry.

“More than $200 million has been stolen out of the pockets of a sovereign Iraqi government through the loss of oil revenues resulting from attacks to pipelines,” Mr Allawi said.
”

ABC

Two Are Said to Tell of Libyan Plot to Kill Saudi Ruler

New York Times
By PATRICK E. TYLER
Published: June 10, 2004
Associated Press

World Oil Demand Reaches 23-Year High

CNN IEA raises projection in 2004 as China continues to provide accelerating growth. LONDON (Reuters) – Global economic expansion is fueling the biggest increase in world oil demand for 23 years, but extra supply from producing nations is gradually replenishing consumers’ stocks, the International Energy Agency (IEA) said Thursday. In its monthly Oil Market Report, […]

Imminent Decline Of Oil And Gas

Jeanette Fitzsimmons showed Dr. Colin Campbell’s famous graph of global peak oil and several likely decline scenarios, explaining that extension of the plateau would make the decline even faster and worse.

Scoop Media

Speed up energy efficiency

Today, the world is quickly running out of cheap, easily produced oil. Some experts say peak production could be only a few years away. Meanwhile, world energy consumption is exploding as a result of population growth and skyrocketing demand for cars and other fossil-fuel-consuming goods in huge, fast-developing nations such as China and India.

Detroit Free Press

U.S. Oil Policy Simulation

What would it take to reduce U.S. dependence on foreign oil? “After Saudi Arabia, the U.S. is the second largest oil producer in the world. But the United States also happens to be the largest consumer of oil. Oil consumption in the United States and Canada is almost three gallons per person per day, twice […]

Break Out the Bicycles

“The world’s problem is as follows. We now consume six barrels of oil for every new barrel we discover. Major oil finds (of over 500m barrels) peaked in 1964. In 2000, there were 13 such discoveries, in 2001 six, in 2002 two and in 2003 none. Three major new projects will come onstream in 2007 and three in 2008. For the following years, none have yet been scheduled. ”

CD

The other oil crisis

“The world’s tanker fleet is already stretched thin by demand for oil, by looming deadlines for the phase-out of single-hull tankers for safety and environmental reasons and by lengthening backlogs at the shipyards where new tankers are built. It is far from clear, industry specialists say, that the existing fleet can handle the new oil production that Saudi Arabia and others have promised for the coming months.”

IHT

Oil Retreats to $37 Ahead of U.S. Data

“LONDON (Reuters) – U.S. oil prices stumbled back down to $37 a barrel on Wednesday ahead of U.S. data expected to show rising oil inventories, easing worries of a summer supply crunch in the world’s biggest energy consumer.”

Reuters

Blast on second pipeline in northern Iraq

“KIRKUK, Iraq : Saboteurs blew up a portion of the Kirkuk-Turkey oil pipeline, the second such attack in less than 24-hours, an Iraqi security chief in northern Iraq told AFP.”

Channel News Asia

Nigerians Go on Strike Over Fuel Prices

“The strike, which began Wednesday, threatened oil exports from Nigeria, Africa’s largest producer.”

DULUE MBACHU Associated Press

Exxon Head: Energy Independence Is a Myth

WASHINGTON – The idea of American energy independence is a myth and the United States must maintain “constructive relationships” with oil-producing countries for its own prosperity, the head of petroleum giant Exxon Mobil Corp. said Monday night. “We do not have the resource base to be energy independent,” Exxon Mobil chairman Lee R. Raymond said […]

Asian states to stockpile oil

MANILA Facing runaway oil prices and security concern, east Asian officials meeting in Manila are making emergency plans that include creating oil reserves and finding alternative sources for their energy imports.

bday

Army Guard on Food if Fuel Crisis Flares

Mark Townsend and Martin Bright Sunday June 6, 2004 The Observer Hundreds of troops will be deployed to defend vital supermarket depots in the event of fresh fuel protests in the autumn. Supermarkets have been told by Home Office officials to expect military assistance as part of draconian government plans to protect Britain’s economy from […]

Technology measures corn’s suitability for ethanol

Pioneer Hi-Bred International and the National Corn Growers Association have teamed up to measure the fermentation characteristics of corn, helping to identify varieties best for ethanol production.

The technology will be donated to the corn industry, in hopes that it will be used to breed corn that will increase the efficiency of ethanol production.

USA Today

EIA Statistics

US Oil Imports US Oil Production US Oil Exports EAI

The Bear’s Lair: The effects of $80 oil

“If oil were to reach $80 per barrel, it is by no means certain that a glut of production would be forthcoming, driving its price down once again to a third or a quarter of that level, as happened in 1982-1998. Both current production capacity and world oil reserves are significantly tighter than in the early 1980s. A 2003 study by the University of Uppsala, Sweden suggested that total world oil reserves were only around 3.5 trillion barrels, compared to estimates of between 5 trillion and 18 trillion by the Intergovernmental Panel on Climate Change. This is good news for those fearing global warming (if you haven’t got it, you can’t burn it) but would imply world oil production peaking around 2010, and a future price path much higher than we have seen in the past.”

UPI

Exxon Mobil: U.S. Can’t Kick Oil Habit

“Raymond downplayed the hopes that many believe alternative and renewable energy sources will have in helping to solve America’s energy problems.

In particular, he said corn-based ethanol is “neither an economic or energy-efficient choice, as it can require more energy to produce that it generates in the end.” ”

Reuters

”This lack of spare production capacity has left the world’s oil markets walkin

“LONDON (Reuters) – The OPEC oil cartel lifted production in May as Saudi Arabia and the United Arab Emirates began to boost crude exports in a bid to rein in runaway prices, a Reuters survey released on Tuesday found. ”

Rueters

Raise Energy Awareness with The END of SUBURBIA

The Post Carbon Institute is conducting a worldwide campaign to raise the awareness of peak oil and gas, and the implications for industrial society and the American way of life that is being adopted globally. The campaign is empowering concerned citizens to organize screenings of the new do*****entary “The END of SUBURBIA: Oil Depletion and […]

General Motors Plans $3 Billion Expansion in China

China is the world’s third-largest market for cars and trucks, behind Japan and the U.S. General Motors Corp. The country has about 16 cars and light passenger trucks per 1,000 people, compared with about 700 in the U.S., 598 in Japan and 91 per 1,000 in Thailand, according to estimates from Lexington, Massachusetts-based consulting company Global Insight Inc.

He predicts the world’s most populous country will have about 51 cars and light passenger vehicles per 1,000 people by 2014.

Bloomberg

Secret winners in the oil crisis

“Many investors believe this could happen. Crispin Odey of Odey Asset Management the big London-based hedge fund, said last week that he expected the oil price to hit $80 a barrel. ”

The Times

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