High Oil Prices Overshadow EU-OPEC Talks

The European Union is expected to ask the Organization of Petroleum Exporting Countries to raise oil production in an effort to pull down high crude prices at a meeting between the two organizations Thursday. The EU’s head office said last week it would make the suggestion at talks between EU Energy Commissioner Andris Piebalgs, OPEC […]

Just a Viscous Rumor

Mark your calendar: annual world production of crude oil will reach its peak this coming Thanksgiving, Nov. 24. At least, that’s the tongue-half-in-cheek prediction of Kenneth Deffeyes, who starts his latest book by suggesting that readers stop and give thanks for a century of plentiful supplies. After the Princeton University geologist offers this figurative toast, […]

Economy to improve in 2nd half of 2005

The U.S. economy is expected to grow faster in the second half of 2005 than in the first half, according to a survey by the Federal Reserve Bank of Philadelphia released on Wednesday. The semiannual Livingston survey of private-sector and academic economists predicted the world’s largest economy would grow at an annual rate of 3.3 […]

Exit strategy: Civil war

Against all odds, a national liberation front is emerging in Iraq comprising politicians, religious leaders, clan and tribal sheikhs, with a single-minded agenda: the end of the US-led occupation. Simultaneously, the US is pushing on with its policy of divide and rule – sectarian fever translated into civil war

Bolivia on edge for crucial vote

Legislators in Bolivia are due to meet later on Thursday in Sucre to decide whether to accept the resignation of President Carlos Mesa. They may call early polls to calm recent violent protests that have been taking place in the main city, La Paz.

Forgery charge for jet fuel boss

CAO collapsed in December after running up losses of $550m (

White House ‘toned down’ climate reports

The White House was accused of politicising research into climate change yesterday after it emerged that an official with ties to the oil industry rewrote reports to play down links between greenhouse gases and global warming.Philip Cooney, the chief of staff for the White House council on environmental quality, deleted and watered down findings about […]

Top Saudi Says Kingdom Has Plenty of Oil

“The world is more likely to run out of uses for oil than Saudi Arabia is going to run out of oil,” Adel al-Jubeir, top foreign policy adviser for Saudi Arabia’s de facto ruler Crown Prince Abdullah, said Wednesday.

Guardian

Saudis Seek Relaxed Nuclear Oversight

Saudi Arabia is seeking to permanently lower international scrutiny of its lone nuclear reactor, but a top Saudi official said Wednesday the request is not a prelude to development of nuclear weapons. “We have no desire to acquire any type of weapon of mass destruction, period,” Saudi foreign policy adviser Adel al-Jubeir said. The Saudi […]

New Exploration Tool Could Save Mining Industry Millions

A team of scientists at the CSIRO has developed a new tool to take the guess work out of finding oil and gas deposits. Researchers have found by combining several different geological techniques they can predict where pools of oil and gas are trapped beneath the ocean floor. Project leader Doctor Anthony Gartrell says the […]

FERC Chief: Energy Bill Would Help With Power Grid Woes

U.S. Federal Energy Regulatory Commission Chief Patrick Wood III told a House panel Thursday that several provisions in the energy bill pending in Congress could help alleviate problems with the nation’s power grid that are causing customers to pay more for electricity. “Right now, our electricity transmission system is the weakest link in our electric […]

Biofuels Take Off in Some Countries

Environmental concerns and hopes to cut oil import bills while helping farmers have rekindled global interest in biofuels, a form of “green” energy with the potential to become a key transportation fuel. Biofuels include ethanol and biodiesel derived from organic matter such as sugar cane, vegetable or corn oils. Not all ethanol is suitable to […]

Iraqi Oil Minister Calls for Cooperation with Iran

Iraqi oil Minister in a meeting Wednesday with Iranian Ambassador to Baghdad Qomi added that Iraq is interested in exploring ways to strengthen relations with Tehran. Iraqi states Television quoted Ibrahim Bahrololoum as saying that Iraq is ready to have cooperation with Iran in oil industry. Previously report had quoted the Iraqi oil minister as […]

BP CEO: Oil Likely to Stay Over $40/Bbl for 3 to 4 Yrs – FT

World oil prices are likely to remain at more than $40 a barrel until new supplies come onstream in three to four years, said John Browne, chief executive of BP Plc (BP), The Financial Times reported on its Web site Tuesday. He made his comments in a debate in the House of Lords on Wednesday […]

Rising oil, asphalt costs delay road projects

State transportation officials are postponing close to $9 million in paving projects because the cost of laying asphalt has unexpectedly skyrocketed in recent months. Bids for paving projects are averaging about 20 percent more than they did a year ago largely due to increases in crude oil costs, paving officials said. Rutland Herald

Crude Oil Falls as Supplies of Heating Oil and Diesel Increase

Crude oil fell for a third day as refiners increased production of heating oil and diesel, bolstering inventories. Stockpiles of distillate fuel, a category that includes heating oil and diesel, rose 1.3 million barrels to 107.7 million, an Energy Department report showed. Crude oil initially rose after the agency’s report showed that supplies fell last […]

Study notes exploration successes, disappointments

Energy consultant Wood Mackenzie Ltd. rated the biggest exploration successes in absolute terms during the last 10 years as Kazakhstan, the deepwater Gulf of Mexico, Angola, and Nigeria. The conclusions appear in a study entitled, “Global Oil and Gas Risks and Rewards.” WoodMac analysts compared exploration performance and returns for international oil companies in 66 […]

South American Gas Giant In Turmoil

The sound of exploding dynamite tossed by protesting miners in Bolivia’s capital is reverberating across South America. For three weeks, largely indigenous protesters have paralyzed the government and its capital, La PYahoo! News

Oilcast #7: French government examines `Peak oil` theory

Oilcast 7 looks at the Shell Scenarios report, a French government round-up ‘Oil Industry 2004′ that takes a long look at ‘Peak Oil’ theory…plus King Fahd’s secret lady friend… the rig count is down yet up…price rises could be nothing more than software and amazingly unreported anywhere else, demand outstripped supply in Q1 2005… http://www.oilcast.com/ […]

Wind farms pose low risk to birds

Migrating birds are unlikely to be seriously affected by offshore wind farms, according to a study. Scientists found that birds simply fly around the farm, or between the turbines; less than 1% are in danger of colliding with the giant structures. Writing in the Royal Society’s journal Biology Letters, the researchers say previous estimates of […]

Iran ‘threatens’ Aust gas exports to China: analyst

A consultant from the United States says a strong historical connection between China and Iran could see China buy liquefied natural gas (LNG) from Iran in future rather than Australia. In Darwin today, LNG consultant Darrel Horton told a gathering of oil and gas industry players that Australia’s stability and positive international relationships have facilitated […]

Aiyar to finalise gas deal in Iran

India and Iran are likely to finalise a $35-billion agreement entered into earlier this year for supply of five million tonnes of liquefied natural gas (LNG) per annum from the energy-rich country. During his two-day visit here beginning June 11, Indian Petroleum Minister Mani Shankar Aiyar is expected to finalise the sale and purchase agreement […]

U.S. watches China’s oil demand with concern

China’s global quest for crude oil is acceptable as long as the Asian nation develops the deposits and doesn’t hoard them, a senior State Department official said on Tuesday. China, the world’s second-biggest oil user behind the United States, has recently scoured the globe for oil deals in Canada, Latin America and Africa

CNOOC still eyeing Unocal

China’s largest offshore oil producer CNOOC Ltd. said Tuesday it may counter Chevron Corp.’s $16.4 billion bid for Unocal Corp., according to media reports. In April, Chevron beat out several firms, including CNOOC, to buy El Segundo’s Unocal in a cash-and-stock deal. In the deal, which has not yet closed, Chevron would assume about $1.6 […]

CARTERING TO KAZAKHSTAN

 has plenty of oil, mucho corruption, longtime connections to Washington deal-makers, and an ex-commie dictator with delusions of grandeur: in short, Kazakhstan has all the earmarks of a typical U.S. ally in Central Asia. Now that Uzbekistan is on the outs with an increasingly embarrassed Washington on account of the recent massacre at Andijan, and […]

Shellshock on the island terrified by oil giant’s pipeline

They no longer let their children play in the woods beside the dachas on the hills overlooking Aniva Bay. Since the oil company Shell began building a large liquid natural gas (LNG) plant on the southern tip of Sakhalin island in Russia’s Far East, bears have started straying into the village. The community believes its […]

Life after the oil peak

In this final installment in its series on the issue of peak oil, The California Aggie discusses what the future may hold for a world in which oil has become drastically more expensive and rare.    A lot can change in a decade. Ten years ago, the idea of peak oil was almost unimaginable. Life […]

Huge wind farm proposed to power London

London could see a quarter of its electricity come from 270 wind turbines in what would be the world’s largest offshore wind farm, Shell and several energy partners said Tuesday in applying for permits to build the $2.7 billion project The London Array project would place the turbines on offshore platforms where the Thames River […]

Nuclear Energy Perks Up on Global Warming, Oil

After more than a decade in the doldrums, the nuclear-power industry is now starting to dust off plans that European nations have shelved for years. For investors, there may well be plenty of opportunities ahead. The nuclear bandwagon is only just starting to roll.

G8 scientists tell Bush: Act now – or else

An unprecedented joint statement issued by the leading scientific academies of the world has called on the G8 governments to take urgent action to avert a global catastrophe caused by climate change. The national academies of science for all the G8 countries, along with those of Brazil, India and China, have warned that governments must […]

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