Is UK oil output running on empty?

How much will you pay for fuel? This is a question people often ask themselves. How much will it cost to fill my car? How much will it cost to heat my home? But are there more hidden costs to the British citizen other than just the cash they hand over to oil companies, gas […]

Sustainable oil palm way to ease conflicts

NGO (non-governmental organisation) campaigns in Europe claim oil palm threatens forests and survival of orang-utans. But what is often overlooked is that NGOs here are working constructively with companies to jointly develop and implement solutions, said Dr Dionysius Sharma, National Programme Director, WWF Malaysia. Daily Express

China unlikely to liberalize oil prices soon – Deutsche Bank analyst

China is unlikely to liberalize oil prices anytime soon despite repeated hints by the National Reform and Development Commission (NDRC) that reform is under way, said David Hurd, Deutsche Bank oil and gas analyst. ‘The government is worried about inflation, its farmers and GDP growth rates. If the price of oil rises too quickly it […]

Blue Stream opens new horizons for Russia

The Blue Stream gas pipeline between Turkey and Russia was officially inaugurated November 17. Its construction, undertaken by Russia, Turkey and Italy – involving a joint venture between Russia’s gas giant Gazprom and Italy’s energy major ENI – began in 1997. … With the US rapidly becoming the first security provider for previously communist countries […]

Big oil has crude designs on Iraq wealth – report

Big oil firms may rob Iraq of billions and grab control of its oilfields unless ordinary Iraqis can have a greater say in how their country’s riches are tapped, U.S. and British campaigners said on Tuesday. Big oil is being lured by the Production Sharing Agreement (PSA), promoted by Washington and London, which gives them […]

Qatar Says No Need for OPEC to Extend Oil Offer

OPEC should not extend its offer to sell its remaining 2 million barrels per day (bpd) of idle crude production capacity due to large amounts of oil now in transit, Qatar’s oil minister said yesterday. “I don’t see a good reason” to extend the offer, Qatari Oil Minister Abdullah al-Attiyah told reporters in Doha. “I […]

Gazprom Seals Energy Pact in Japan

Japan, the world’s third-biggest oil consumer, and Gazprom on Monday signed an agreement on energy cooperation that would include developing oil and gas fields and liquefied natural gas projects in Russia’s east. Japan’s Natural Resources and Energy Agency, a division of the trade ministry, and Gazprom will conduct feasibility studies on projects in which Japanese […]

Blair says ‘facts have changed’ on nuclear power

Nuclear power is once again a serious option to supply a large part of Britain’s energy because “the facts have changed over the last couple of years”, Tony Blair told MPs this morning. Giving evidence during his twice-yearly appearance before the Commons liaison committee, the prime minister said Britain faces “difficult and controversial decisions” on […]

Peak Oil Resolution in U.S. House of Representatives

A peak oil bill has been filed in the House of Representatives with the support of the newly formed Peak Oil Caucus, founded by Rep. Roscoe Bartlett (Rep, MD) and a number of co-sponsors. The members of the caucus are James McGovern, Vern Ehlers, Tom Udall, Mark Udall, Raul Grijalva, Wayne Gilchrest, Jim Moran, Dennis […]

OPEC May Have to Cut Oil Output in 2006 to Defend Prices

“Unless oil demand growth rebounds strongly in 2006, OPEC will face the need to make output cuts in order to defend prices, although its price target remains unclear,” the Centre for Global Energy Studies said in its monthly report.Interactive Investor

No technological fix for falling oil stocks

DECLINING production from the world’s major oil fields could not be made up by technological advances or the development of new discoveries, a Swedish energy expert warned yesterday. In Perth to launch the Australian chapter of the Association for the Study of Peak Oil and Gas, Professor Kjell Aleklett of Uppsala University said four fields […]

Oil’s 2-Month Drop Leaves Traders With Worthless Bets

Nov. 21 (Bloomberg) — Crude oil may extend a two-month decline as concern about shortages eases, leaving traders who bet on $100 oil with near-worthless investments. “People who have put out extreme price scenarios have become very quiet,” said Craig Pennington, the head energy analyst at Schroders Plc in London, which manages $206 billion in […]

Conference a Huge Success

Thanks to all of our speakers and attendees. Described by ASPO-USA

BP buys stake in China fuel firm

BP is buying a stake in China’s main jet fuel importer China Aviation Oil (CAO) for an, as yet, undisclosed sum. ..The new deal will allow BP, the world’s second largest oil company, to increase its small presence in China’s tightly state-controlled, but fast-growing, oil market, now the second largest in the world. BBC

GM to Cut 30,000 Jobs, Close 9 Plants

General Motors Corp. said on Monday it will cut about 30,000 jobs or 9 percent of its total work force, close or curtail operations at 12 plants in North America and slash the amount of vehicles it produces by 1 million as it attempts to reduce costs by $7 billion.The company warned that it will […]

Sheik, Rattle and Roll

George Clooney gets heavy in Stephen Gaghan’s wild oil-industry thriller ‘Syriana.’ There were more than a few moments in the complex, fascinating “Syriana”As he did in his Oscar-winning screenplay for “Traffic,” Gaghan shuffles multiple stories, often continents apart, only gradually unveiling how they’re connected. There’s an Arabic-speaking CIA agent left out in the cold by […]

CNPC exploits a new mega-natural gas field

China National Petroleum Corporation (CNPC) has discovered a mega-gas field in Guang’an, southwest Sichuan Province. Development of the field has begun.

The field holds 100 billion cubic meters reserve and is one of the largest in the country. As it is sulfureted hydrogen free, there is no need building desulfurizing facilities, making economical direct gas supply possible for the demands of natural gas chemicals, living, CNG fuel and power generation.

People’s Daily

India’s Oil demand may grow 5% 2005/6

Indian oil demand growth could hit five per cent in the 2005-2006 financial year as the economy grows rapidly, Oil Minister Mani Shankar Aiyar said at a meeting of oil producers and consumers in Saudi Arabia. “We could easily be up five per cent,” Aiyar told journalists on Saturday.

Hindustan Times

Asia’s Oil-Import Cutback May Extend into Yr End

Asia’s largest consumer nations may have imported too much oil in recent months despite near record-high prices, and signs are growing that the region will scale back its oil imports heading into the year end. Inventories are piling up as domestic demand isn’t quite keeping pace, especially with the threat of a global bird flu […]

Shell sets the stage for exploration activities in Libya

Royal/Dutch Shell in collaboration with Libya’s national oil company has started seismic survey operations in Libya’s onshore Sirte Basin. Four seismic crews have been contracted to conduct operations until next March. Seismic surveys will be accompanied by a large aeromagnetic operation, also planned to start this month.Gulf News

Oil’s not well: How prepared are we for the energy crisis?

With only 20 pc of the oil left to find and demand and prices spiralling, it’s time the world sat up and took notice, says oil expert The end is near… The end. Prof Seppo A Korpela finished his presentation on the looming energy crisis with a cartoon but no one was smiling. In an […]

All signs point to higher crude palm oil price

The price of crude palm oil (CPO), which is showing no sign of weakening, has the potential to register further increase as it enters into the new price cycle by year-end. With the exception of 1994-2000 price cycle, commodity analysts said the palm oil price cycles over the past 12 years lasted between 3.5 and […]

Chavez wants Venezuelan oil tankers going to places other than the USA

Politicians are demanding that the US become less dependant on foreign oil, but the near-term options seem weak. The politics of drilling in the Alaskan National Wildlife Reserve and the Gulf region are too hot to have anything happen soon. Hydrogen is several years away from being an alternative energy source. Meanwhile, the highly fragile […]

Oil industry warns against tax rise

The UK will be almost entirely dependent on foreign oil and natural gas by 2020 if taxes on North Sea producers are increased this year, the oil industry body has warned. Michael Tholen, economics and commercial director of the UK’s Offshore Operators Association, said: “If we continue investing in current rates we would still be […]

Premier on Trip to 5 Middle East Nations

South Korea’s Prime Minister Lee Hae-chan Monday began a 12-day tour of five Middle East countries, focusing on the promotion of economic cooperation in the fields of energy, construction, and information technology with the oil-rich nations. .. “We expect the visits will help secure a stable route for importing crude oil and other natural resources […]

Harare will boost energy supply with uranium

President Robert Mugabe said at the weekend that the recent discovery of uranium deposits will allow Zimbabwe to develop its energy supplies, state radio reported on Sunday. “We recently discovered uranium which is used for many purposes including electricity generation,” Mugabe said on Saturday while visiting a school south-west of Harare. IOL

Green energy sector comes together to examine its research agenda

Using the earth’s natural heat, the power of waves, the rays of the sun or the earth’s green resources to produce energy and fuel are all at the centre of the European Commission’s efforts to promote research into renewable energy. The EU will invest €440 million of research money in advancing these technologies between 2002 […]

Fear of Losing Immortality

There’s something I’ve been pondering for a long time about the reluctance of the collective conscience, particularly in the US, to accept the implications of peak oil theory. It’s there, just below the surface, but drives many the various psychological defense mechanisms that people have built up. It’s the general philosophy that we as a […]

Natural gas depletion and what it will mean this winter

…Gas is an infrastructure business: it can be transported either by pipelines (doable if the gas field and the consumers are at a reasonable distance from each other, and on the same landmass) or by LNG (on sea, but on a cargo by cargo basis, i.e. smaller volumes). LNG trade is slowly beginning to connect […]

Gas crisis fears grow for industry

BRITAIN’S largest user of gas, chemicals producer Terra Nitrogen, has started to slow production because it cannot afford the latest huge rise in fuel prices. Several glass manufacturers have been hit too, and are turning to emergency supplies of oil, which is now cheaper than gas, with potentially dire implications for carbon emissions.These dramatic moves […]

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