Solarworld Moves to Tap Spain and US Markets

German solar energy company SolarWorld aims to double its exports to 60 percent of sales by 2008, its chief executive Frank Asbeck told Reuters on Wednesday. His comments came after the company announced it had set up subsidiaries in Spain and the United States to tap into the two major markets for its solar power […]

Egypt plans $5bn refinery

Egypt is preparing a feasibility study for a $5bn oil refinery and three new LNG trains, Petroleum Minister Sameh Fahmy told Bloomberg yesterday. AME

Australia to triple LNG exports

Australia was on track to triple its liquefied natural gas (LNG) exports by 2020 to account for 30 per cent of exports in the Asia Pacific region, a government official said. Australia has less than 10 per cent of the region’s export market but plans to increase output capacity from just below 12 million tonnes […]

More US Companies Weighing Climate Risks

The United States does not regulate global warming emissions, but many US companies are beginning to prepare for greenhouse gas limits, according to a study by a coalition of institutional investors. PlanetArk

World’s top firms fail to tackle climate change challenge

Most of the world’s biggest companies are failing to cut their carbon emissions even though the long-term cost of complying with tougher rules to tackle global warming could have a devastating impact on their profitability. An authoritative report published yesterday in New York also warns that climate change litigation could one day become as big […]

China, India competing for oil supplies around the world

An intensifying rivalry for energy between oil-thirsty China and India is playing out in ever more distant oil fields around the globe, a sign that both countries view owning overseas fields as critical to sustaining their booming economies. YAHOO

OPTI Canada aims for 240,000 barrels of crude per day from oilsands venture

OPTI Canada Inc. filled in some of the blanks Wednesday about its $3.5 billion oilsands joint venture with Nexen Inc., saying it expects to develop 240,000 barrels per day of premium sweet crude production in the project. CBCNews

Russia Could Discover Huge Offshore Oil Fields – Trutnev

He said at least three or four such properties would be mapped out in the Barents Sea; as many again in the Northern and Southern Depressions of the Kara Sea; two or three in the Laptev Sea; and one or two in each of the Sea of Okhotsk and deep-water section of the Black Sea. […]

Oregon and New York State Offer Solar Energy Incentives

Both Oregon and New York State recently put new legislation in place to offer tax credits and sales tax exemptions for solar energy systems.EERE

Tilley Total Electric Car to be Produced

Production model concept of 2005 Tilley Electric Vehicle (TEV) The Tilley Electric Vehicle (TEV) will be produced and is expected to be on sale to the general public in 2005. Based on the original Electric DeLorean conversion first produced by Carl Tilley it will offer a streamline design and no need to recharge after use. […]

Spending on environment yields big returns: report

The study estimated that annual investments of $60-$90 billion in the environment over 10-15 years were needed to reach a world goal of halving the proportion of humanity living on less than a dollar a day, currently more than a billion people. A further $80 billion a year was needed to limit global warming, widely […]

States ‘not run by people’s will’

Sixty-five percent of citizens across the world do not think their country is governed by the will of the people, a poll commissioned by the BBC suggests. BBC

How to Avoid a Windfall Profits Tax

From The Oil Drum: Last week, I wrote about the Senate response to high oil prices: there seemed to be a lot of grandstanding, and assuring the consumers that the Big Bad Oil Companies would be paying. It very well may come to nothing, but one senatorial reaction was that of Byron Dorgan (D-ND), who […]

Peak Oil in Guatemala and the U.S.

Each nation on earth has been transformed to varying degrees by the general abundance of energy from fossil fuels, and each will face many fundamental challenges as declining global production of petroleum can no longer meet demand. However, there will almost certainly be enormous variation in the changes and reactions on the part of eaach […]

OPEC Production Hike ‘A Good Thing’, More Reserves Could Be Tapped – IEA

An increase in OPEC’s production at its meeting on 19-20 Sept would be ‘a good thing’, said the International Energy Agency’s executive director Claude Mandil in an interview with the magazine, Arab Oil and Gas. He added that IEA members might extend arrangements for releasing oil from strategic reserves. Mandil said, however, that it is […]

Efficiency Could Help With High Gas Prices In US – Experts

Although U.S. government energy officials are expecting home heating bills to surge this winter, an energy expert is telling Congress that simple conservation and efficiency measures could provide significant relief. According to Michael Zenker, a senior director at Massachusetts-based energy firm Cambridge Energy Research Associates, if every consumer were to turn down their thermostat just […]

US Gulf Oil Producers Scramble to Circumvent Roadblocks

Gulf of Mexico oil producers are scrambling to find their way around damage to key pipelines and an onshore storage facility that threaten to bottle up their output indefinitely. The obstacles are holding up owners of giant deepwater platforms that are ready to start pumping oil but can’t get their crude ashore. At issue is […]

Saudi Oil Ramp-Up Hopes Clouded by Lack of Data

Saudi Arabia’s ambitious intentions to increase its spare crude oil production capacity should be taken with more than a grain of salt, according to Houston-based energy investment banker Matt Simmons. “If the world’s future economic success depends on all those projects, we’re betting the ranch on bad data,” Simmons said in an interview Tuesday on […]

Crude Oil Futures Rise After Report of Falling U.S. Inventories

Crude oil and heating oil jumped after the Energy Department reported a larger-than-expected decline in U.S. inventories last week as Hurricane Katrina cut production. Crude-oil supplies fell 6.6 million barrels to 308.4 million last week, the third straight weekly decline, according to the report. A drop of 2 million barrels was expected, according to the […]

Nigerians protest at fuel prices

LAGOS, Nigeria (Reuters) — Nigerian labor union activists marched through the commercial capital Lagos on Wednesday to protest against a 30 percent rise in the price of fuel that they say further burdens tens of millions of poor Nigerians. The Nigerian Labor Congress (NLC) had billed the march as the first in a series of […]

Branson Lays Plans For An Oil Business

Sky-high fuel costs could push Delta Air Lines and Northwest Airlines into bankruptcy as early as today. If only those carriers had a billionaire behind them. Sir Richard Branson, you see, has decided he has had enough of being at the mercy of the oil companies: The man who has built his own music company, […]

Shell prepared to spend billions on oil sands

Shell Canada Ltd. is looking at a “multibillion” dollar project to develop a comparatively obscure deposit of oil sands in the Peace River area of northwestern Alberta that could produce 100,000 barrels of bitumen a day for 30 years. “We could spend a significant amount,” Ian Kilgour, senior vice-president of exploration and production, told reporters […]

IEA chief urges OPEC to raise oil output

OPEC countries should increase oil output when they meet next week, IEA head Claude Mandril said on Wednesday, adding that IEA members might extend arrangements for releasing oil from strategic reserves. In an interview to appear this Friday in energy magazine “Revue le Petrole et le Gaz Arabes”, International Energy Agency executive director Claude Mandril […]

The Oil Drum: Another Way of Looking at CERA

In this post, I want to investigate how some of the bottom-up projections we’ve been discussing here look from a top-down perspective. Here’s the graph, which I’ll explain below the fold. (There’s also a bigger version of it down there for your viewing pleasure). The idea behind this kind of graph is as follows. Hubbert’s […]

China to build up strategic oil reserves

China will not buy more crude oil while international prices remain so high, a senior cabinet official said yesterday. While denying that China, a relatively small importer of crude oil, is a threat to the world on account of its increasing energy consumption, Zhang Guobao, vice-minister of National Development and Reform Commission, said the country […]

Chavez Extends Oil Trade Deal to Caribbean

Venezuelan President Hugo Chavez has extended a preferential oil trade deal to 13 Caribbean countries in what he says is part of a plan to challenge U.S. economic domination of the region. MSN.com

Russia’s Oil Industry Depleted Sources of Growth — Official

Russia’s oil industry has depleted its reserve for growth, Deputy Economy Minister Andrei Sharonovsaid told members of the Russian parliament on Wednesday, Sept. 14. Sharonov said that in 2006-2008 oil production in Russia will grow by no more than two percent, while exports will grow by no more than three percent. Because of this, the […]

Chancellor seeks global response to high oil prices

Gordon Brown has ruled out cutting fuel duty to ease the impact of soaring oil prices on motorists, stressing yesterday that a global response was needed to stabilise crude oil markets. The chancellor used his Trades Union Congress speech in Brighton to make clear he viewed calls for lower taxes and threats by protesters to […]

U.K. Oil Companies to Increase Supply to Gas Stations

U.K. fuel companies including BP Plc and Royal Dutch Shell Plc aim to re-supply by tomorrow several thousand British service stations that ran out of gasoline following a two-day surge in demand from motorists. “We’re working flat-out to replenish the sites that have run dry because of panic buying,” Chris Hunt, director general of the […]

Oil India on acquiring spree

State-owned Oil India Ltd (OIL), after registering an all time high profit of Rs 1,071 crore, is now setting its eyes on acquiring more properties abroad. The Oil-Indian Oil Corporation Ltd (IOCL) consortium has already acquired an onshore exploration block at Libya while trying to get more such field at Myanmar, Russia and African countries. […]

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