Venezuela Sets August Deadline to Define Orinoco JV Structures

Venezuelan state oil company PDVSA rigzone

Four Takes on Global Oil Demand, Supply and Disruption

Four major oil- and energy- related reports emerged this week: the International Energy Agency greencarcongress

Tony Blair has turned Britain into a land where we are all prisoners

..there has been the incredible number of CCTV cameras – a total of 4.2 million, more than in the rest of Europe put together. And, yesterday, we learnt that the Government has agreed to let the EU have automatic access to databases of DNA (containing samples of people’s hair, sperm or fingernails) in order to […]

Companies will ‘buy’ their way out of polluting

The EU Emissions Trading Scheme (ETS) should be one of the most important weapons in tackling climate change. But WWF says that what was a sound principle is being undermined – for a second time – by weak political planning which will provide a loophole for some of the worst polluters.The carbon trading system was […]

India snubs West on climate change

India will not curb its greenhouse gas emissions as long as the West continues to treat it as a ’second class global citizen’ with less right to pollute than the developed world, a senior Indian environment official has said. Pradipto Ghosh, who retired last month as India’s environment secretary and now sits on a committee […]

Businesses accused of green hypocrisy

At a “summit” on the issue organised by the Guardian in London, Tony Juniper, executive director of Friends of the Earth, accused Shell of sponsoring the event in a bid to align itself with green issues while failing to clean up its own act. They painted a frightening picture of life in 2050 when “tens […]

Flash floods ‘biggest climate threat to UK’

Sir David King told a committee of MPs that global warming has already altered the climate and the country will have to prepare for extreme weather such as heat waves and “torrential downpours”. In the long-term, he warned that if Greenland ice disappeared, rising sea levels would wipe out Britain’s coastal town and cities. Sir […]

Conservationists fight to keep wind farms off Skyros

Residents on the remote Greek island of Skyros are engaged in a last-ditch fight to prevent the construction of one of the world’s largest wind farms on a protected nature reserve. The plans have pitched the country’s largest landowner, the Orthodox Church, against the islanders. Conservationists, echoing the debate across Europe, are split between those […]

Gasoline: How low prices will go

“I certainly think prices for the summer have peaked,” said Stephen Schork, principal of the industry newsletter the Schork Report and a former NYMEX trader. “I can see [retail prices] getting back down to between $2.50 and $2.75.”

CNN

Book review: The Last Oil Shock

…In common with what you would expect from the genre, Strahan gives a thorough account of the history of the oil industry, and a fascinating section on the life of M.K. Hubbert, clearly a remarkable man, and the official unacceptability of his message during the Kennedy era when Americans were being promised a man on […]

How published oil reserves figures confuse the oil supply situation

I occasionally read commentaries which imply that there is no concern about global oil supply because the world has huge global oil reserves. We know that because huge, and growing, reserves figures are published in World Oil and Oil and Gas Journal, which then make their way into the mainstream media. While those figures are […]

The EU’s agrofuel folly: policy capture by corporate interests

Despite growing public concern about the risks associated to agrofuels, the European Union (EU) is throwing its weight behind the promotion of these often very harmful crops. In March 2007, a proposal set targets to increase the use of agrofuels in all road transport fuel to 10 percent by 2020. The Commission is also planning […]

Gasoline: How low it will go

Experts say prices could fall by over 50 cents a gallon by July 4; after then, everything depends on hurricane season. NEW YORK (CNNMoney.com) — After setting record highs less than a month ago, gasoline prices are on the way down. Experts say motorists can expect gradually declining prices from now until July 4. After […]

The Oil Drum: Oilwatch Monthly

This edition focuses on exports of all fuel liquids including conventional + unconventional crude oil, natural gas liquids, lease condensates, gas-to-liquids, coal-to-liquids and biofuels. Three main conclusions have been found based on available data from January 2002 to February 2007: 1) Total world exports of all fuel liquids have been on a plateau since the […]

Energy efficient, but still using more

Despite attempts at limiting power usage, Americans are using more electricity than ever to keep cool during the hottest days. …Many household appliances have become more efficient, using less electricity than ever to cool rooms, wash clothes and chill food. But the increasingly wired American home, where outlets are charging cell phones and iPods and […]

Ghana: Energy Crisis Devastates Mining Sector

THE PRESIDENT of the Ghana Chamber of Mines, Mr. Jurgen Eijgendaal has bemoaned the effect of the nation’s energy crisis on the mining industry, describing it as very devastating. According to him, mining is an energy intensive economic activity and as such obtaining full energy requirements at competitive rates was vital for the containment of […]

Come on in – the quicksand’s fine: my part in the energy crisis

…For example, if we wish to boost nuclear power in the teeth of dwindling liquid fuel supplies, we will discover that the “cost” of plant, mining, processing and other infrastructure will become uncomfortably high by present expectations. The more we try (and the more gasoline and diesel we burn in the process) the higher will […]

How to Trade Like a Rockefeller

…The wealth John D. Rockefeller left behind is still being managed and invested through the family office that he and his son set up, Rockefeller Financial Services. Check out the Stockpickr portfolio and you’ll see that the Rockefellers haven’t left their oil roots behind. Rather, it’s probably the most comprehensive oil-infused portfolio I’ve ever seen. […]

Crying Wolf or Crying Uncle

Does our dependence on foreign energy and credit really matter? For a country founded on rugged individualism, our current state of affairs is looking a lot less rugged and a lot more dependent. With a massively expanding debt to foreign creditors, and an insatiable appetite for energy, we as a nation become more dependent each […]

Shell Begins Nigeria Ops Cost-Cutting Program to Offset Costs

Royal Dutch Shell (RDSB.LN) said Sunday it has started implementing a number of cost cuts to its operations in Nigeria, which are likely to include job cuts, to combat rising costs and falling oil revenues caused by production outages. A Shell spokesman in the Netherlands said the changes were underway and follow an internal announcement […]

Battling Baghdad’s petrol crisis

Filling up your car in Baghdad these days means organising a minor expedition, with the capital in the grip of a new fuel crisis. Fuel shortages have become a fact of life for Iraqis since the US and British invasion, despite their country’s vast oil reserves. But the situation has dramatically worsened in the past […]

UK inflation slows to 2.5% in May

The UK’s rate of inflation slowed in May to the weakest level in seven months, official figures have shown. Falling prices for gas and electricity, compared with the rises one year ago, was the main reason for the reduction in inflation, the ONS said. Lower food prices, particularly for vegetables and meat, also helped to […]

Official warns of energy crisis

DEADWOOD, S.D. — Construction of new electrical generation in the West is projected to grow by 6 percent, while demand for electricity is projected to increase by 19 percent over the next 10 years, according to the Federal Energy Regulatory Commission. FERC commissioner Suedeen Kelly, speaking on her own behalf, said the situation is nothing […]

Nuclear shutdown sparks energy fears

ONE of Scotland’s ageing nuclear reactors had to be shut down manually over the weekend, the latest in a catalogue of problems which prompted experts last night to warn of a possible looming gap in energy supplies. British Energy said staff had to shut down a reactor at its troubled Hunterston B power plant in […]

Energy Scenario of Bangladesh Going from Bad to Worse…..

The helpless people of Bangladesh are gradually getting hopeless. People have started loosing confidence in the managerial efficiency of the caretaker government as far as improving the acute energy crisis is concerned. Caretaker Government (CTG) declared Jihad against energy mafias and promised various initiatives to manage the crisis and set the energy sector on the […]

U.N. seeks to conserve genetic resources

ROME – The United Nations is stepping up its campaign to conserve the world’s genetic resources so crops and animals can adapt to global warming and other challenges, focusing on fish for the first time since fish are increasingly being bred to meet the world’s food needs. Fish farming, or aquaculture, has grown enormously in […]

IEA raises estimate of world oil demand in 2007

PARIS (AFP) – Global oil demand will increase by two per cent this year, the International Energy Agency (IEA) said on Tuesday, revising upwards an earlier estimate by about 400,000 barrels per day and warning the market will be tight. “Global oil product demand is revised up to…86.1 million barrels per day for 2007,” the […]

Russia’s Gazprom Looks To Britain — What’s It After?

With weekend comments about a possible U.K. acquisition, Russian energy giant Gazprom has reignited speculation that it’s coveting gas retail and distribution assets in Europe. Speculation that Gazprom may be about to swoop in on Britain’s Centrica or Scottish Southern Energy flared after Gazprom Deputy Chief Executive Alexander Medvedev told reporters at an economic forum […]

Petroleos Venezuela May Explore in Vietnam, Argentina

Petroleos de Venezuela SA, the country’s state oil company, plans to explore for oil and gas in Vietnam, Bolivia and Argentina. The company is considering exploration in Vietnam’s offshore areas, Luis Vierma, vice president for exploration and production of Petroleos Venezuela, told reporters after attending the Asia Oil and Gas Conference in Kuala Lumpur today. […]

Ethanol to Take 30 Percent of U.S. Corn Crop by 2012

Almost a third of the U.S. corn crop will be used in five years to produce fuel ethanol, possibly raising animal feed costs for farmers and meat prices for consumers, a new government report warned on Monday. Assuming U.S. ethanol production continues to expand to the Energy Department’s projected 11.2 billion gallons by 2012, about […]

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