ExxonMobil declares force majeure

HOUSTON – ExxonMobil (NYSE:XOM – news) on Friday announced it was joining ConocoPhillips (NYSE:COP – news) in declaring force majeure on its Alaska oil shipments and cutting supplies to customers as a result of pipeline problems at Prudhoe Bay. “ExxonMobil regrets the inconvenience and will continue to work with its customers to supply alternative crudes,” […]

Bomb damages gas pipeline in Pakistan

QUETTA, Pakistan – A bomb blew up a state-owned gas pipeline in southwestern Pakistan on Saturday, leaving thousands without gas but causing no injuries, a spokesman said. Nobody claimed responsibility for the attack in Quetta, the capital of volatile Baluchistan province. Maqbool Ahmed, spokesman for Sui Southern Gas Pipelines Ltd., said work was being done […]

BP to keep oil flowing from Prudhoe Bay

ANCHORAGE, Alaska – BP PLC announced it would keep one side of the Prudhoe Bay oil field open as it replaces corroded pipes, enabling it to funnel up to half its previous output and avert a larger crimp in the nation’s oil supply. BP had previously said it would have to completely shut down the […]

The Real Price of Oil

ITPBusiness.net – Despite the well-documented collapse in Arab stock markets ITPBusiness.net

Kuwait’s Reserves Queried Again

AME Info – Kuwait’s parliament has again called for the government to reveal how much oil the country has in its reserves, reported the Kuwait Times. Speculation has continued for months that the country has 48bn barrels of oil in reserve, about half of the official figure of 99bn. Kuwait’s new Energy Minister, Sheikh Ali […]

Perception Management – CERA and IHS Energy

The Oil Drum – [editor’s note, by Dave Cohen] This is Part 1 of what I hope will be a 2 part series. The second installment is tentatively titled Getting to Know Daniel Yergin. Enjoy and remember what’s at stake… This story’s aim is to investigate the CERA method, provide background for these latest statements […]

OPEC President: No Emergency Mtg Before Sep; Oil Market ‘Flush’

(Dow Jones)- The Organization of Petroleum Exporting Countries won’t convene an emergency meeting ahead of a regular one scheduled for September due to BP PLC’s (BP) oil production problems in Alaska, the group’s president said Friday. “We don’t have a reason,” OPEC President Edmund Daukoru told reporters upon arriving here. Daukoru said he’s in Houston […]

An in-depth look at China’s ambitious biofuels program

According to an USDA attache report released yesterday, China is setting itself more and more ambitious biofuels targets in order to reduce its dependence on imported oil. Currently the awakening giant produces around 920,000 tonnes of ethanol per year, making it the world’s third largest producer. China plans to boost this amount to nearly 4 […]

Back to the Brink

The Business Online – As the Iran crisis and the war on terror cast dark shadows over energy supplies, an embarrassing shutdown of AmericaThe Business Online

Iran, Iraq Discuss Oil Exchange Deal

Khaleej Times Online – Iranian and Iraqi oil ministers on Saturday discussed details of a plan for Teheran to provide refined products in return for Iraqi crude, the state news agency IRNA reported. In July 2005, Shia-led Iran signed a deal to buy 150,000 barrels per day of Basra light crude in return for petrol, […]

Oil to Shatter $80 Ceiling

The Business Online – Terrorism and production fears drive price ever nearer to $100 nightmare THE price of oil will breach the symbolic $80 (The Business Online

Canada: 5% ethanol mix would require over 50% of national corn crop

National Post – In 2005, Canada produced 372 million bushels of corn, 61% of it from Ontario, and imported 87 million bushels, according to a report from the Ontario Ministry of Agriculture. One bushel of corn produces 10 litres of ethanol. So to fill 5% of Canada’s fuel would take more than half of Canada’s […]

Car owners to earn $1000 for converting to LPG (Australia)

Sydney Morning Herald – CAR owners will be offered a financial incentive of up to $1000 to switch to liquefied petroleum gas, in measures to attack the petrol crisis to be announced by Prime Minister John Howard tomorrow. In response to sustained pressure from opposition political parties and the public, Mr Howard is expected to […]

Homework Assignment: Rates of Decline of the Largest Fields

The Oil Drum – After yesterday’s discussion of on-stream production growth (or the lack thereof), it would seem apropos that we follow that up with a discussion of the existing largest fields and their decline rates. Greyzone and others worked a while back to assemble as much data as they could about the largest producing […]

World Without Oil: Could It Be A Cleaner Place?

The Age – The point is, a world without oil is something many believe we will see within our lifetime. Though how it will look when we finally get there is another thing. Many believe cars will be powered by a fuel other than petrol within 20 to 30 years, give or take a decade. […]

CERA’s Report is Over-Optimistic

ASPO – On August 8, 2006, CERA (Cambridge Energy Research Associates) released a new private report with the title ASPO via EnergyBulletin.net

No More Business as Usual

EnergyBulletin.net – ALI SAMSAM BAKHTIARI is a retired “senior energy expert,” formerly employed by the National Iranian Oil Co. (NIOC) of Tehran, Iran. He has held a number of important positions with NIOC since 1971. He is currently attached to the director’s office in the Corporate Planning Directorate of NIOC, and specializes in questions related […]

China’s Net Import of Crude Oil Up 17.6% Year on Year in First Half

People’s Daily Online – China’s net import of crude oil rose to 70.33 million tons and refined oil products, 12.03 million tons, in the first half of the year, said an official with China’s General Administration of Customs on Friday… The net import of crude oil and refined oil of the country rose by 17.6 […]

OPEC Under Pressure After BP Woes

Scotsman.com – THE world can cope for now with the loss of about 1 million barrels per day of oil from Alaska and Nigeria, but the pressure is on exporter group OPEC to fill the gap, the International Energy Agency said yesterday. The IEA bumped up the estimate of demand for oil from the Organisation […]

Saudi Sep Crude Volumes To Asia Unchanged – Traders

(Dow Jones)–Saudi Arabian Oil. Co.(SOI.YY), or Aramco, has informed its Asian buyers that crude oil allocations to Asia will remain unchanged in September, traders with major refiners said Friday. Asian companies have been receiving 100% of their contractual volume since the beginning of this year, the traders said. European companies have been receiving 70% of […]

Disaster zone grows in Java toxic mud spill

TOXIC mud spurting from a gas drilling well part-owned by the Australian mining giant Santos threatens to mire East Java in a full-scale disaster. Experts are unable to prevent millions of tonnes of mud blocking highways and rail links, and propose to divert the flow into the ocean, risking another environmental catastrophe… For two months […]

Large-car sales get left in the slow lane

AUSTRALIA’S love affair with big and powerful petrol-driven cars is ending as small-car sales surge in the wake of the international fuel crisis. If current trends continue, sales of cars categorised as “light” will outstrip “large” sedans for the first time this month as motorists respond to a marketing blitz by European manufacturers and downsize […]

IEA Leaves 06 World Oil Demand Outlook Unch at 84.8M B/D

Schlumberger – The International Energy Agency Friday trimmed its global oil demand growth estimate for this year to its lowest level since it began its forecasts, led by shrinking demand in developed industrialized nations, but with China offsetting much of the impact. The energy security watchdog for the Organisation for Economic Cooperation and Development in […]

Analysis: Alaska Oil Pinch Could Hit Farms

(UPI) — The pinching of Alaskan oil production could not have come at a worse time for U.S. farmers who could see diesel prices spike higher just as they start firing-up tractors and combines for the fall harvest. Higher demand, along with the need to get fuel to far-flung rural locations, raised the prospect of […]

Peak-Oil Theory Warns Tank’s Almost Empty

The Australian – FORGET pipeline problems in Alaska. The real elephant in the corner is “peak oil”. This issue is in the same category as global warming – although there is a division of opinion as to whether or not it’s real, it is probably prudent to assume the worse-case option. Peak oil is the […]

Oil Rises as Travel Concerns Ease, Diplomats Falter on Lebanon

Bloomberg – Crude oil rose as concern eased that travelers will avoid flying after the threat of a terrorist attack and as diplomats disagreed about a United Nations resolution to end the Lebanon conflict… “There is plenty of oil to be found in the ground, it’s just a matter of investment in new capacity” to […]

The fragility of microprocessors

…A project to preserve knowledge may be unable to continue in an unstable society beset with power outages, hunger, and crime. Once rationing and shortages begin, agriculture and other essential services will receive the most energy. Scientists will be unemployed. It is very likely that resource wars will erupt all over the globe, so the […]

National Oil Companies: Really Big Oil

Sluggish behemoths control virtually all the world’s oil; they should be privatised WHEN activists, journalists and others speak of Yet Big Oil is pretty small next to the industry’s true giants: the national oil companies (NOCs) owned or controlled by the governments of oil-rich countries, which manage over 90% of the world’s oil, depending on […]

U.S. Lists Places Where It Could Force New Power Lines

WASHINGTON These areas include the lower Hudson Valley in New York, where a company based in Albany wants to build a line from Utica to Orange County. Also included are the power-line corridors that link New Jersey to the west and south, and the Delaware River path, connecting Wilmington, Del., and Philadelphia to northern New […]

In warmer world, even Inuit buy air conditioners

OSLO (Reuters) – With signs that the world is warming, even Inuit peoples of the far north are ordering air conditioning. Better known for building igloos during hunts on the polar ice, Inuit in the village of Kuujjuaq in Quebec, Canada, are installing 10 air conditioners for about 25 office workers. “These are the times […]

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