Gunmen kidnap 8 oil workers in Nigeria

PORT HARCOURT, Nigeria – Gunmen attacked a residential compound for foreign oil workers Friday in Nigeria’s southern oil region, kidnapping eight people including women and children and killing two police officers, police said. Gunmen hit the same housing estate in the main oil center of Port Harcourt last month, seizing several Indians, said Rivers State […]

Revised Colorado State Forecast Calls for 9 Hurricanes This Season

Colorado State University hurricane researcher William Gray’s revised forecast issued Thursday calls for nine hurricanes this season, five of them becoming intense. The forecast is unchanged from the April projection for 17 named storms forming in the Atlantic basin between June 1 and Nov. 30. Of those, nine are expected to be hurricanes, of which […]

Reliance on foreign gasoline is growing

U.S. refineries are unable to meet surge in demand As domestic refineries hit their limit and gasoline demand continues to rise, oil companies are importing more gasoline from beyond U.S. borders to keep America driving. Gasoline shipped in from abroad now accounts for more than 11 percent of the total gasoline used in the U.S., […]

Australia: A numbers game that’s hard to win

Motorists “know” that petrol retailers get together and fix petrol prices or, at least, think they know. Motorists also think government should “do something” about it. The legal reality of proving the existence of price fixing and doing something about it is difficult, as was made clear by this week’s Federal Court decision exonerating a […]

Argentina cold snap causes energy woes

BUENOS AIRES, Argentina – A cold snap in Argentina led to electricity and natural gas shortages this week, idling factories and taxis and causing sporadic blackouts in the capital. Beset by the coldest May since 1962, millions of residents fired up space heaters, straining Buenos Aires’ electrical grid for three nights and forcing authorities to […]

Soils offer new hope as carbon sink

Trials of agrichar using pyrolysis The huge potential of agricultural soils to reduce greenhouse gases and increase production at the same time has been reinforced by new research findings at NSW Department of Primary Industries’ (DPI) Wollongbar Agricultural Institute. Trials of agrichar – a product hailed as a saviour of Australia’s carbon-depleted soils and the […]

Why Our Electricity System Is Headed for a State of Emergency

…Most people don’t realize that skyrocketing global energy demand and economic growth severely affect the supply of electricity. Between production (power plants) and delivery is an antiquated, “third-world” transmission grid that is in desperate need of hardening against breakdowns, terrorist attacks, inadequate carrying capacity, and operational obsolescence. And while electricity doesn’t hold the headlines or […]

No More Gushers for ExxonMobil

…It’s not just ExxonMobil. Oil-field-services provider Baker Hughes keeps a monthly tally of how many rigs are active around the world, and the rig count peaked at 6,227 in December 1981. In April of this year it was just 2,836. But ExxonMobil is the most cautious of the lot. Slightly smaller rival Shell spent 25% […]

Peak Oil Passnotes: Normalising $70 Oil

In the past week or so, we have once again seen the price of Brent crude touch $70. But now it appears that even a plateau of $70 oil is not worrying politicians and bankers unduly. There is no great hurry on the parts of central banks to raise interest rates. How did we get […]

BP to Lose $18 Billion Field Amid Russian Crackdown

BP Plc’s Russian venture will probably lose its license to a Siberian field with enough natural gas to supply Asia for five years as President Vladimir Putin extends state control over foreign energy projects. A Natural Resources Ministry commission should annul BP’s permit for the $18 billion Kovykta field at its meeting today, Oleg Mitvol, […]

Sinopec discovers new oil reserves of between 140 mln and 200 mln tons in Xinjia

China’s second largest oil and gas producer, has made a new oil discovery in northwestern China’s Xinjiang Autonomous Region with geographical reserves of between 140 million and 200 million tons of oil equivalent, the company’s official news portal China Petrochemical News reported today. The new discovery, located in block 12 of the Tahe oilfield, signals […]

Consumers should take the lead in gas crisis

While some consumers are blaming the government for higher gas prices, they need only look in the mirror for the solution. A number of factors MiamiCountyHerald

Oil stays steady as players digest US stocks data

Oil held on to most of yesterday’s gains as market players continued to digest US inventory data released yesterday that showed a surprise fall in crude oil stocks and a rise in gasoline inventories. Oil rose yesterday after the US Energy Information Administration said crude stocks fell by 2 mln barrels in the week to […]

‘General’ Chavez makes his critics nervous

When Hugo Chavez, the Venezuelan President, closed the nation’s leading opposition television network this week, the brazen decision caught millions of his countrymen by surprise. Never mind that the Latin American firebrand had been threatening to use his broad executive powers for that very purpose ever since his re-election last December – many Venezuelans refused […]

More abductions in Nigerian oil delta, siege ends

Gunmen used dynamite and heavy machine guns to kidnap at least three senior managers of Indonesian chemical company Indorama in Nigeria’s southern oil-producing Niger Delta, police said on Friday. In a different area of the impoverished delta, community elders expelled protesters occupying a major oil export pipeline hub and reopened valves to allow crude oil […]

Turkey deploys extra troops to Iraq border as tension with Kurds grows

A Turkish military build-up on the northern Iraq border is fuelling fears of a confrontation between Ankara and Kurdistan’s semi-independent government that could further destabilise the region as US forces begin to pull back. Turkey’s armed forces chief said yesterday the army was prepared at any time to start cross-border action to halt attacks inside […]

OPEC oil output edges higher in May – survey

OPEC boosted crude oil output in May as higher supply from members including Algeria and the United Arab Emirates countered a drop in Nigeria, a Reuters survey showed on Friday. Ten OPEC members bound by output targets, all except Iraq and Angola, pumped 26.76 million barrels per day (bpd), up 110,000 bpd from April, according […]

Iran offers IAEA access to new parts of nuclear programme

Iranian negotiator Ali Larijani has offered European Union representative Javier Solana that the International Atomic Energy Agency could accede areas of the Iranian nuclear programme that have not yet been investigated, diplomatic sources were quoted by the Spanish news agency EFE as saying. earthtimes

Russia breaks into British nuclear fuel market

Russia has signed a deal to supply nuclear fuel to a British generator, local media reported on Friday, a first breakthrough into the British market for Russia’s fast-expanding nuclear sector. Russia will supply uranium to a plant owned by French company Areva , where it will be converted into ready-to-use fuel and then supplied to […]

For Dubai, The Oil Futures Are Now

At 6 p.m. Eastern time, a long-awaited effort gets under way in Dubai’s opulent financial center to give the world a new crude-oil pricing benchmark. The recently organized Dubai Mercantile Exchange is launching its Middle East “sour” crude futures contract as an alternative to the bellwether New York and London contracts for the black gold […]

EU project to develop first fuel-cell aircraft

Designing the first fuel-cell manned intercity aircraft is the goal of a recently launched EU-funded project. The Environmentally Friendly Inter City Aircraft powered by Fuel Cells (ENFICA-FC) project is receiving cordis

Peak Natural Resources, History and Future

In addition, companies like Shell and Chevron have developed processes for extracting oil values from the vast shale deposits in the American west. A lead story on CNBC today, May 31, 2007, was titled resourceinvestor

Air Powered Car, Round 2: Fuel Vapor

The new tech under the hood is called Fuel Vapor, and it ohgizmo

Air Liquide to Supply Portable Hydrogen Fueling Systems to GM in the US

Air Liquide Advanced Technologies US, LLC will supply five, 700-bar, portable fast-fill hydrogen fueling systems to General Motors (GM) in the US. GM will also have an option to acquire two additional systems. The systems will be built in North America, with proprietary engineering designs from Air Liquide greencarcongress

Sweden Looks to Indonesia for Biofuel

In the attempt to reduce the use of fossil fuels by 2020, Sweden is eyeing on Indonesia for its supplies in cheap and green biofuel for motor as told by the Swedish Minister for Foreign Trade Sten Tolgfors.Motor vehicles in Sweden are now using as little as 3% biofuel in the form of ethanol from […]

President Bush Proposes Developing International Goal by End of 2008 for Greenho

During a speech today focusing on the US international development agenda, President Bush announced that the US will work with other nations greencarcongress

On the likelihood of peak oil

No one can predict the future. The best we can do is to amass lines of evidence that point toward plausible scenarios. Cambridge Energy Research Associates (CERA) claims that the oil supply will continue to grow as it has in the past. Those studying the peak oil hypothesis, so-called peakists, are not so confident that […]

Africa’s Oil Dreams

By some estimates, Africa holds 10% of the world’s reserves, but that figure belies the importance West Africa has already achieved as a source of energy. According to Poisoned Wells, a new book on African oil by Nicholas Shaxson, an associate fellow with international affairs institute Chatham House in London, the U.S. imported more oil […]

US Has World’s Fastest-Growing Wind Power Market – Energy Dept

With Texas, Washington and California leading the way, the U.S. is the fastest growing wind power market in the world, according to a report released Thursday by the U.S. Energy Department. The Department of Energy’s first “Annual Report on U.S. Wind Power Installation, Cost, and Performance Trends: 2006,” finds that wind power capacity last year […]

Want to save the planet? Move to a big city

Even those who have no intention of going green have an image of what an ethical lifestyle may look like – an “eco-house” surrounded by trees and fields with a patch of earth for organic greens. But this image is a myth, claims a new book, and the road to true eco-living is much simpler […]

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