Oil Demand Growth Slows as Economy Eases

Weakening economic growth and inflated fuel costs slowed oil demand growth in the world’s biggest energy importing regions in the first quarter, the International Energy Agency said on Wednesday. Incremental demand in China, Europe and the United States was less than expected for the quarter, said the IEA, adviser on energy to 26 industrialised nations, […]

Oil and Food: A Rising Security Challenge

From farm to plate, the modern food system relies heavily on cheap oil. Threats to our oil supply are also threats to our food supply. As food undergoes more processing and travels farther, the food system consumes ever more energy each year. The U.S. food system uses over 10 quadrillion Btu (10,551 quadrillion Joules) of […]

OTC: Analyst Pushes Plan for Supply Chain Management

The international oil and natural gas industry needs to institute reserves data reform immediately to establish “good supply chain management” of proven reserves, said Matthew R. Simmons, chairman and chief executive officer of Simmons & Co. International, a specialized Houston investment firm. Speaking at a May 2 topical luncheon at the annual Offshore Technology Conference […]

N. Korea ‘Boosts Nuclear Arsenal’

North Korea says it has finished extracting 8,000 fuel rods from its reactor at Yongbyon, which it shut down a month ago, according to a report on its official news agency.CNN

Global Economy Shows More Signs of Slowdown

Further signs of economic slowdown emerged on Wednesday with news of waning Chinese and U.S. demand for oil and an OECD report that the outlook had taken a turn for the worse across the big industrialised countries. The Organisation for Economic Cooperation and Development said its monthly indicator of economic prospects fell in March in […]

Over A Barrel

Some of the hottest questions in world oil today are not about the Middle East but about China. How big will its impact be on the market? Does its drive for energy supplies portend something more than intensified commercial rivalryFortune Magazine via CERA

OPEC Still Sings Same Tune

“We’re playing with the future of our civilization,” said Caltech’s Goodstein. “We could soon find ourselves without oil or anything to substitute for oil.” He says OPEC keeps going out of its way to create an illusion of excess capacity as a means of deterring investment in alternative energy sources. “If they can keep people […]

OPEC Output Up 130,000 Barrels Per Day in April

Iranian production declined by 30,000 b/d to 3.95-mil b/d. Several analysts believe Tehran’s production capacity is firmly constrained below the 4-mil b/d mark, and recent OPEC output surveys support that view. The latest survey would appear to put Iran among the ranks of those OPEC members which cannot produce their full quotas, although the gap […]

Gas price fuels 44% BG profits rise

What was happening in Britain was that the UK gas reserve base and production volumes had been going down. “We are going to have to import gas and there will be upward pressure on prices,” Mr Chapman said. BG said that by 2015 there would be a need to import as much gas – 100bn […]

Windfall tax will stifle investment, say small oil firms

North Sea oil and service companies are to meet Treasury officials today amid mounting fears that a windfall tax will be imposed by the chancellor as he seeks to balance the books. Abbot Group, Tullow Oil, Dana Petroleum and others will argue at the summit that heavier taxation would damage an already fragile sector that […]

High Cost of Diesel Hitting Hard at Farm Industry

The pain of higher fuel prices is being felt throughout the food industry. Many of the truckers who distribute produce are charging higher prices or getting out of the business, making it harder for farmers to get their crops to wholesalers. Distributors providing fuel directly to small farmers are finding it hard to buy fuel […]

Global Energy Demand and Capacity Building in SA’s Petroleum Sector

There are no certainties here or any other major aspect of current estimate of Saudi capacity and world demand. Matthew Simmons, an outside analyst, has argued that the Kingdom reserves are overestimated by Saudi Aramco. Saudi Aramco claims that the total depletion rate of its oil fields, so far has been approximately 28%-30%. Mr. Simmons […]

OPEC to raise actual output to 30.3mln bpd

Sheikh Ahmad was quoted by the official Kuwait News Agency as saying that the 11-member oil bloc will increase the oil production to 30.3 million bpd as of next month, from last month’s level of 29.7 million bpd.

People’s Daily

Wall Street Weighs Stagflation Threat

A trend from the 1970s may be making an unwelcome return, and it has nothing to do with disco music, bad hair styles or bell-bottom pants. Fears are growing on Wall Street about the possible return of stagflation, which often arises when tepid economic growth mixes with rising inflation. That toxic combination can cripple the […]

Demand for Rigs Worldwide will Outstrip Precision’s Capacity, Says CEO

Precision Drilling, Canada’s largest oilpatch drilling company, will not have enough rigs to match demand this year as the world’s voracious appetite for energy continues to grow. Calgary-based Precision will be out of excess capacity soon, chief executive Hank Swartout said, following his company’s annual shareholder meeting Tuesday afternoon. “We have far more bids out […]

Kyoto-Style Protocol for Global Oil Depletion to be Debated

Current and former elected officials will debate a proposed international agreement to avoid global conflict over the worldhttp://www.ems.org/nws/2005/05/10/kyoto_style_prot

Saudi Aramco Reports Status of Megaprojects

Saudi Aramco is making progress on three megaprojects in Saudi Arabia: the Rabigh Integrated Refinery and Petrochemical Complex, an export refinery, and a refining and petrochemical project at Ras Tanura and Ju’aymah.Oil & Gas Journal

America’s Right goes green

There is a conventional view that partisans of the Right have little time for environmental issues. The stereotype paints the Left as “tree-huggers” of a liberal persuasion in contrast to the All-American patriot who associates big vehicles with the very essence of the US of A. It ain’t true. People at the heart of two […]

Big is Beautiful in a World of Scarce Energy Resources

IF YOU want energy, think big. Think about power stations, oil platforms, a continent criss-crossed with pipelines, convoys of supertankers plying the oceans. If you like alternatives, think of a forest of windmills crowning every hill or a blanket of solar panels eclipsing French vineyards. Whatever your preference, there is no avoiding the need for […]

EU and Russia forge closer ties

Russia has reached an agreement with the European Union on closer co-operation in key policy areas including the economy and security. The comprehensive deal was reached ahead of a Moscow summit attended by top EU and Russian officials. BBC

Crude Futures Climb on Speculation Demand will Outstrip Supply this Year

The fear in the market right now is that demand will outstrip supply next winter, as a major OPEC producer said the cartel may not be able to pump enough oil to meet needs for the remainder of 2005. Prices were given an upward nudge Tuesday after Qatar’s oil minister, Abdullah Hamad al-Attiyah, raised concerns […]

Gas Demand Drives Refinery Plan

In a remote area about 100 miles southwest of Phoenix, Glenn McGinnis is seeking to do something that has not been done in the United States for 29 years: he is trying to build an oil refinery. Part of his job is to persuade local officials and residents to allow a 150,000-barrel-a-day refinery in their […]

Rural Gas Stations Nearing Empty

Conrad says independent retailers are getting pushed out because of rising gas prices and the concentration of power in the hands of big oil companies. The number of gas stations in Nova Scotia has dropped over the years. According to the association, there are currently 445 retail outlets in the province, down from 960 in […]

Sudan Foreign Min:Oil Exports To Surge To 2M B/D In 2008

Sudan’s Foreign Minister Mustafa Osman Ismail, after a meeting with Brazil’s Foreign Minister Celso Amorim late Monday, said he expects his country to export 500,000 barrels of oil a day in August, and 2 million b/d in 2008, the Arab-Brasilian Commerce Chamber said on its Web site Monday. “Preliminary studies show that Sudan is situated […]

EU to Hold First Summit with OPEC about Oil

Oil producing nations will be urged next month to increase transparency in the rollercoaster crude market to help cut lofty oil prices that are hitting industry, the European Union said on Tuesday. There is a need for cheaper and more reliable supply of oil, Jeannot Krecke, Luxembourg’s minister of economy and foreign trade, told reporters. […]

Crisis looms in Motor City

GM, the world’s largest car maker, is in big trouble. Falling sales, rising costs and huge legal bills are threatening to bring this motoring superpower to its knees. Mark Bursa reports

Coming Energy Crunch Vies for Pols’ Attention

Yo, Wisconsin. Get ready to kiss that cheap oil good-bye. Prices are trending up now, but it’s going to get much, much worse. Maybe next year, maybe in five years, maybe in 15. No one is quite sure when it will happen, but some day in the not-overly-distant future, oil production will reach its peak. […]

The nuclear option

 case anyone was thinking that Britain’s nuclear installations were clean and green, there comes a chilling reminder that it remains far from being either. A leak – a real leak, rather than a piece of spin doctoring – of highly radioactive uranium and plutonium forced the closure of the Thorp reprocessing plant at Sellafield. It […]

Climate Change Already Affecting Plants, Farms and Habitats

Climate change is already affecting the growth of plants, the productivity of farms, and habitats for animals, according to a Communiqu

Swiss wrap glacier to slow ice melt

 Alarmed by the retreat of its Alpine glacier, a Swiss ski resort on Tuesday wrapped part of the shrinking ice-cap in a giant blanket in a bid to reduce the summer melt. If successful, officials at the Gemsstock resort above Andermatt in central Switzerland expect the example to be followed elsewhere in the Alps, where […]

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