Rising supplies could crimp Big Oil’s profits during 2007

After a bonanza in 2006, Big Oil is poised for a slightly less big year in 2007, as expected slowing U.S. economic growth and an expanding global supply may help keep a lid on prices. Oil prices will continue to hover at historically high levels, analysts say, because of strong demand in China and the […]

Reining in of foreign firms elsewhere increases African oil’s allure

Though much of the continent is just as conflict-ridden as the Middle East, analysts say Africa is increasingly attractive because it’s one of a diminishing number of regions still welcoming foreign corporations. “It’s one of the few places still where in virtually every country the international oil companies can invest,” said Julian Lee, senior energy […]

Exxon among winners of Libya oil blocs

Exxon, ONGC and Inpex win blocs that drew only single bidders. Russian firms take bulk of licenses. TRIPOLI (Reuters) — Three blocs that drew only single bidders in Libya’s latest oil exploration round were awarded to Exxon, ONGC and Inpex on Sunday, the country’s state National Oil Corporation said. Exxon Mobil Corp. was awarded a […]

The lights went out one Christmas long ago

Christmas 1973 was a dark time in America. The war in Vietnam had not yet ended. Neither had the traumatic national upheaval called Watergate. But America was dark in another way. It was the year without Christmas lights. The energy crisis was peaking in late 1973. Earlier that year there were electricity brownouts across the […]

Citing cost pressures, several carriers hike fares

ATLANTA – Heading into the Christmas holiday, some major carriers have raised air fares to offset added cost pressures. …[US Airways spokeswoman Andrea] Rader said US Airways was raising prices American spokesman Tim Wagner said the fare increase was necessary to offset higher fuel costs. He said jet fuel prices are about 15 percent higher […]

Pakistan will go ahead with Iran gas pipeline project

ISLAMABAD: Pakistan will go ahead with a project to build a pipeline to carry Iranian gas even if India decides not to join it, President Pervez Musharraf has said. Musharraf expressed the hope that India would show interest in the completion of the project, the daily Dawn reported. “However, If India would not be a […]

America

Despite carpooling, leaving earlier, time in the car just keeps getting longer As cities sprawl, commuting in America just keeps getting worse. The average travel time to work in the U.S. is growing steadily. From 1980 to 1990, it increased 40 seconds, from 21.7 minutes to 22.4 minutes for a one-way trip. In the next […]

Saudi Arabia: Fuel Prices Will Not Increase, Says Al-Naimi

JEDDAH “This is one of a spate of initiatives taken by the king to enhance the welfare of Saudi people,” the minister said while making the announcement. The king’s decision comes a week before the introduction of the second grade gasoline, Premium 91, in the Kingdom. Saudi Aramco had earlier planned to sell the two […]

Nigerian militants hit close to home

Group known for targeting foreign oil companies bombs government facility PORT HARCOURT, Nigeria – A car bomb exploded outside a state government building in Nigeria’s southern oil hub Saturday, marking the first targeting of government installations by a militant group that has previously focused attacks on foreign oil companies. The blast was the latest in […]

Pakistan: Locally-made LPG price may be brought to international level

LAHORE: The government has approved a proposal to increase the price of locally produced LPG to the international market level, according to the Oil & Gas Regulatory Authority (OGRA). The decision was taken during the Federal Cabinet It has been decided that:

Hoping he’ll have The Last Word

SO many stocks have enjoyed good runs over the past year that it makes it very hard to pick shares that might enjoy further growth. So that’s my excuse made early for my choices, especially those ones that may prove to have gone as high as possible during 2006. … Tullow Oil. I believe the […]

Agency report rings alarm bells for global energy security

Alarm bells are ringing on the issue of security of global energy supplies, International Energy Agency (IEA) Chief Economist Dr. Fatih Birol said Friday at a press conference in Istanbul. “The threat to the world’s energy security, especially on oil and natural gas, will reach serious dimensions in the next 10 years,” he added.Turkish Daily […]

Chile: Copper mining companies invest in “reliable” energy

Four of the largest mining companies operating in Chile have joined forces in pursuit of reliable and affordable gas supplies.High international fuel prices, cutbacks on gas deliveries from Argentina, and increasing energy demand have spurred the industry to change its energy strategy. The construction of a joint gas plant is said to be a result […]

Kenya: Energy from garbage

The United Nations Industrial Development Organisation (Unido) has brought an expert into the country to evaluate the possibility of introducing the idea of recycling waste to generate power.Economists have regarded energy as the single most important criteria for Kenya to realise its vision on industrialisation. Kenya’s current installed capacity of 1075 MW is inadequate to […]

THE GLOBALIST QUIZ: Energy consumption

Despite concern about climate change, the demand for energy has continued to grow. In fact, energy consumption across the globe increased by 72 percent from 1975 to 2003. Which of these regions increased its use of energy by the lowest percentage?A. Japan B. China C. United States D. European UnionBoston Globe

Russian bullying over oil is ‘a wake-up call’

Russia’s use of energy supplies as a political weapon should be a wake-up call to Britain and the West to deal urgently with the threat, senior Conservatives said last night. Liam Fox, the shadow defence secretary, stepped up Tory calls for a Nato-style “energy pact” after Gazprom, Russia’s state-controlled energy giant, forced the pro-Western former […]

UK: Army saves by topping up tanks with chip oil

Out of the frying pan into the firefight. British troops in Iraq, Afghanistan and other military bases around the world are to be told to recycle used cooking oil as fuel for military vehicles. The Ministry of Defence (MoD) said it was planning the move on environmental grounds. However, others have pointed out that the […]

Iran Vows to Defy U.N. Nuclear Sanctions

The U.N. Security Council voted unanimously Saturday to impose sanctions on Iran for refusing to suspend uranium enrichment, increasing international pressure on the government to prove that it is not trying to make nuclear weapons. Iran immediately rejected the resolution. The resolution also says the council will review Iran’s actions in light of a report […]

Energy options set aside for now

There have been countless articles about chances for an economically devastating shortage of energy in the future, usually with suggestions for some technological solution. But before settling on a solution, we must first confirm there is a problem — and that is problematic. Many analysts say we will never run out of oil, and others […]

Democrats’ energy goals likely to be modest in 2007

Democrats campaigned on promises of making sweeping changes to the nation’s energy policy, but it’s unlikely they’ll deliver on most of those promises. Producers of solar power, wind power, geothermal power and other technologies that use wood or waste products to generate energy also are expected to receive new tax breaks from the Democratic Congress. […]

Cuba economy growing

Officials said Cuba posted its fastest economic growth in its socialist history this year: 12.5 percent, the highest rate in the Latin America and Caribbean region. But serious problems remain. Cuba is still short on the foreign currency needed to import basics such as oil, buses and food. And local output and productivity remain low, […]

Are hydrogen-filled cars pie-in-the-sky?

Unless I am really off-base, I think the economics and politics involved will dictate that the major demand for hydrogen-fueled vehicles will be in mega-cities that can no longer support the endless stream of carbon monoxide spewing commuters driving in-and-out each day. These cities may reach the point where the only individual commuter transportation allowed […]

Global Energy Woes Spark Russian Resurgence

As oil prices climbed in 2006 and burgeoning global powers China and India emerged as major energy consumers, one country above all others appeared poised to profit — Russia. “The wrong message of 2006 was that an energy catastrophe is approaching. The right message is that we have big problems, but it is not true […]

Azerbaijan May Stop Buying Russian Gas and Cut Oil Exports

Azerbaijan President Ilham Aliyev said his country may stop importing Russian natural gas next year because OAO Gazprom, Russia’s gas-export monopoly, wants to more than double prices. Azerbaijan, the former Soviet Union’s third-largest oil producer, may have to cut crude exports through Russia to fill the resulting domestic energy gap, Aliyev said in an interview […]

U.S. CONTINUES TO MOVE WARSHIPS INTO GULF

The U.S. Navy continues to move warships into the Gulf in an effort to counter Iran’s growing military might. Officials said the Bush administration has approved deployment of a range of warships to the Gulf over the next few months. They said the effort was meant to assuage fears by Gulf Cooperation Council states of […]

Renewable Energy in America, Part 2: Solar Powered Homes

With the introduction of the California Solar Initiative — due to go into effect January 1 — solar photovoltaic (PV) industry firms are scrambling to adjust to changes in application processes, rebate pricing, and energy efficiency and metering requirements. ecommercetimes

EPA clears way for fuel-cell cars

The U.S. Environmental Protection Agency has cleared the way for automakers to produce hydrogen-powered fuel cell cars to meet zero-emission vehicle requirements in California and 10 other states, officials said Friday. The EPA approved regulation amendments adopted by the California Air Resources Board in 2003 that allow manufacturers to produce fuel cells as an alternative […]

Iran condemns UN resolution as illegal

TEHRAN – The Iranian Foreign Ministry issued a statement here on Saturday condemning the UN Security Council resolution imposing sanctions on Iran

Mulling over Zachary Nowak The concept of resilience was, for me, a

Georgia to pay more than double for gas

MOSCOW – Georgia will pay more than double what it pays now for Russian natural gas under an agreement signed Friday, a top executive with Russian gas giant OAO Gazprom said, in a deal that could potentially threaten its fragile economy. Before Gazprom’s announcement, Georgia had said it would buy gas from Azerbaijan instead of […]

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