Statoil to Buy Rival’s Energy Units: World’s Largest Offshore Operat

Statoil of Norway agreed on Monday to buy the oil and gas operations of a rival, Norsk Hydro, in an estimated $28 billion deal that would create the world’s largest off-shore operator and a new national energy champion. nytimes

Big Oil seeks to burnish U.S. image in 2007

And nearly half the respondents thought the oil and gas industry earns 13.8 cents on a dollar of sales — the highest amount offered as an answer option. Only 15 percent identified the correct figure — 8.5 cents, according to the data. Results also suggest that many Americans see a limitless supply of gasoline and […]

Peak Debt – US Debt & GDP Growth

I am no expert on Peak Oil, but Peak Oil is not the urgent problem that the world faces, economically, or politically. The problems of the supply-demand of oil will play out over a longer period and its effects would be spread over a longer period of time than that of the Peak Debt, which […]

Raymond J. Learsy: Saudi Realpolitik: Political Blackmail, Oil Price Extortion

If so it would be an exercise of blatant political blackmail threatening the American government with the following Hobson’s choice: A- Either you continue your presence in Iraq at the cost of the lives your soldiers, and at the cost of billions and billions in treasure, or B- We the Saudis, will initiate policies that […]

Ohio aims to bring fuel cells to the marketplace

Speaking after the announcement of $900,000 funding from Ohio state for Battelle, a firm which specialises in developing innovative products for commercial purposes and which works extensively with federal and state agencies, Mr Valente said he was confident this would be achieved. “We’re talking about military applications now, but the Holy Grail is the home […]

Florida Teams Up With Brazil For Alternative Fuel

In one of his last initiatives as governor, Jeb Bush on Monday announced the creation of the Interamerican Ethanol Commission to promote the use of the alternative fuel throughout the Americas and slowly wean the region off gasoline. cbs4

UK: Government approves world’s biggest offshore wind farm

The government gave a green light on Monday for the world’s biggest offshore wind farm, hoping it will help curb greenhouse gases and global warming. The 341-turbine London Array, along with the smaller 100-turbine Thanet wind farm which was also approved, will supply 1.3 gigawatts of electricity — enough to power one million homes. yahoo

Japan banks on energy, environment

The government-affiliated Japan Bank for International Cooperation (JBIC), one of the world’s biggest international financial institutions, is revving up its energy- and environment-related business activities, apparently reflecting growing government concerns over energy supplies and global warming. Resource-poor Japan is pumping no small public financial support into its drive for oil, gas and other energy resources […]

Biofuel majors: Will exports be profitable enough?

Mergers in the booming palm oil sector are creating the biofuel industry’s own ‘Big Oil’ companies, but vertical integration and economies of scale may not be enough to make exports profitable or to replace crude.Producers of crops such as rapeseed, soya and palm oil have seen soaring prices. A new outlet for supplies looked profitable […]

EU risks mini-repetition of last winter’s gas crunch

With EU gas transit state Belarus and Russia locked in a bitter row over energy prices for next year, some north and eastern EU states risk seeing a mini-repetition of last winter’s Ukraine gas crunch.But even if the winter of 2007 passes uneventfully, experts at the IEA and leading think-tanks, such as CEPS, are beginning […]

Algeria strives for oil security

Despite a recent attack on foreign oil workers in Algiers, and a government that is struggling after a civil war in the 1990s, world demand for oil and natural gas will likely drive foreign companies to endure risks and remain in energy-rich Algeria.‘Undoubtedly, undermining the economy is one of the objectives [of those attacks]. A […]

Suburban sprawl may create heavier kids

NEW YORK – U.S. children who live in expansive suburbs may start to pay for it with expansive waistlines, new research suggests. Using data from a national health survey, researchers found that teenagers living in sprawling suburbs were more than twice as likely to be overweight as teens in more compact urban areas. The findings […]

Rapeseed oil used as fuel causes extremely high cancer risk

Some less pleasant news is coming from the Berufsgenossenschaftliches Forschungsinstitut fur Arbeitsmedizin (BGFA) at the Ruhr-University of Bochum, Germany. Scientists at this institute of research for health protection at the workplace have found [*German] that the exhausts of rapeseed oil used as a fuel in internal combustion engines increases cancer risks 10-fold compared to the […]

Competitors draining Gulf of deepwater rigs

After hurricanes Katrina and Rita ravaged the Louisiana and Mississippi coasts in 2005, oil and gas drilling production was greatly disrupted despite just 113 of the more than 4,000 platforms being destroyed in the Gulf of Mexico. But the harshest long-term threat to oil and gas production in Gulf waters now is the dwindling drilling […]

How do we cope with those 100 million more people?

How do some of America’s best minds in the real estate and urban development game

Indonesia: Oil Production to Continue Decreasing Until 2009

Jakarta: The energy crisis still threatens Indonesia because it is estimated that the decrease in national crude oil and natural gas production will continue until 2009. Trijana Kartoatmodjo, Deputy Head of the Upstream Oil and Gas Executing Body (BP Migas), said that national daily oil production currently stood at 1.1 million barrels, less than the […]

Norwegian oil companies plan merger

OSLO, Norway – Norwegian oil companies Statoil ASA and Norsk Hydro ASA announced plans Monday to merge their offshore oil and natural gas units in a deal they said would create the world’s largest offshore oil operator. The Norwegian government, which owns 71 percent of Statoil and 44 percent of Norsk Hydro, reacted positively to […]

Why can

UGANDA is one country that will make any critical mind spin in frustration. Parliament is proposing the purchase of Japanese monster cars at a cost of sh20b The question is; what is the problem? Forget the drop in the level of Lake Victoria; forget that talk of climatic change, please! Sensible and responsible people know […]

Energy crisis. Wait or act?

Life is impossible without energy. The life of a contemporary person – even more so. To consume power, one should produce it. Traditional resources for that are unfortunately exhaustible, but in order to pass on to alternative energy, a lot of problems should be solved. Has the energy crisis begun? If so – what should […]

Ghana: Gold producer loses $30 million due to power crisis

NEWMONT GOLD Ghana Ltd (NGGL) in an interview with The Chronicle, has disclosed that the company has lost $30 million as a result of the energy crisis currently facing the nation. …The General Manager quantifying the amount into gold production indicated that Newmont could not meet its target of 250,000 ounces, but only produced 2000, […]

OPEC sees weaker oil market next year

LONDON (Reuters) – OPEC on Monday said the fundamentals of the world oil market show signs of weakening in 2007 as economic growth slows and supply from non-OPEC countries rises faster than global demand. In a monthly report, the group that pumps more than a third of the world’s oil held its forecast for global […]

Top BP exec said to slam company

Accuses the firm of squeezing profits and ignoring maintenance costs too long, as search for new CEO gets underway – report. NEW YORK (CNNMoney.com) — A top BP executive and possible successor to John Browne sharply critiqued the company’s cost-cutting efforts, leadership style and political lobbying, according to a report Monday. “The mantra of ‘more […]

Airlines’ profits set to soar with climate measures

A proposal to be tabled this week by the European Commission to curb CO2 emissions from the aviation sector could add €4 billion to airlines’ profits, according to the UK’s Institute for Public Policy Research (IPPR).“The EU should not repeat the mistake it made with the energy sector and give the aviation industry free emissions […]

Argentina: Energy crisis

Argentina is facing a severe energy shortage that many experts blame on the lack of investments since the 2001-2002 economy crisis and despite GDP has grown at about nine percent over the last four years.Argentine oil production has been declining to September, “a logical” consequence of the “exhaustion of fields,” Lopez Anadon said, adding that […]

China unlikely to meet energy efficiency goal

China is unlikely to meet its own energy efficiency goals this year, the Xinhua News Agency said, citing data from the National Development and Reform Commission. China will fail to meet the target of reducing energy consumption per unit of gross domestic product (GDP) by 4 percent this year, Xinhua said. Energy consumption per unit […]

Labour slips up on length of oil reserves

Labour has been accused of misleading the public in the debate over independence after one of its own policy documents revealed North Sea oil reserves will not run out for “at least 30 years”. While the party has claimed publicly that an independent Scotland would face economic catastrophe because of dwindling oil reserves, the internal […]

Venezuela, Oil Producers Buy More Euros as Dollar, Oil Slump

Venezuelan leader Hugo Chavez is directing a growing share of the country’s oil profits into euros as the dollar and crude prices fall. The dollar, down 9.4 percent against the euro this year, may face more pressure in 2007 because Venezuela and oil producers from the United Arab Emirates to Indonesia plan to funnel more […]

OIL crisis boon for sisal Industry

Civil strife and political instability in most oil-producing countries in the world, resulting in short supply of the commodity look set to increase demand for Tanzania’s sisal. A sisal consultant in the Parastatal Sector Reform Commission (PSRC), Mr J. J. Ngelime, told the ‘Daily News’ in Dar es Salaam yesterday that world manufacturers using fibre […]

Fred Smith on Energy Independence

But on one important issue businessweek

60 oil fields waiting to be developed

Iraq, holder of the world’s third-largest oil reserves, will offer contracts to develop 60 oil fields, in several batches, starting next year, said Iraqi Oil Minister Hussain Sharistani. Only 20 of Iraq’s 80 discovered oilfields are in production, Mr. Sharistani said. lawksalih

« Previous Page — Next Page »

LATEST NEWS HEADLINES

• Why the IEA is Wrong About Peak Oil Demand
• Did we inadvertently speed global warming?  
• Venezuela’s Oil Monopoly Eases
• Why Germany is Choosing Natural Gas Over Nuclear Power
• U.S. coal-fired electricity generation decreased in 2022 and 2023

• America Cracks Down on Methane Emissions from Oil and Gas Facilities
• Meet America’s Newest Oil Trader Extraordinaire: Joe Biden
• Is It Time To Refill America’s Strategic Petroleum Reserve?
• Oil prices set to end year 10% lower as demand concerns snap winning streak
• What’s Driving America’s New Oil and Gas Boom?
• China’s peak oil demand bombshell eviscerates Danielle Smith’s energy strategy