Money Alert for Mexican State Oil

Mexico (Prensa Latina) – Mexican oil company Petroleos Mexicanos (PEMEX) faces a paradoxical financial situation with extraordinary profits but a future of great debt, PEMEX General Director Jesus Reyes confirmed on Wednesday. Despite PEMEX favorable situation on the international market, operating costs, insufficient investment, negative results from both the refining and petrochemical sectors, plus the […]

Total: Output from Angola’s Dalia oil platform halved due to electrical glitch

LONDON (MarketWatch) — Total SA has nearly halved output at its Dalia oil platform in Angola due to an electrical problem, the company said Thursday. Current daily production at Dalia stands at 127,000 barrels of oil, compared with average daily production of 240,000 barrels, a Total spokeswoman in Paris said. The company also declared force […]

Ethanol stirs fear of water shortage

Some say Iowa fuel plants may be depleting supplies The mass quantity of water needed for Iowa’s booming ethanol industry – billions of gallons each year – has raised concerns among state officials who say laws may be needed to prevent a water shortage in the state. Several lawmakers say that a close look at […]

Nigeria: N’delta – Country Loses 700,000 Bpd

Executive Director (External Relations) with Shell Petroleum Development Company and ministerial nominee from Bayelsa State, Mrs. Diezani Allison-Madueke told Senate yesterday that Nigeria loses between 660,000 to 700,000 barrels of crude oil per day, totaling $1.3 billion in revenue per month to the crisis in the Niger Delta region. She pointed out that the losses […]

Uganda: President Museveni Halts Uranium Deals

PRESIDENT Yoweri Museveni has ordered the ministry of energy to halt any deals for the exploitation of uranium. He also instructed for the setting up of an atomic energy unit within the ministry. The directives are contained in the resolutions passed at the end of a five-day retreat of NRM MPs at the National Leadership […]

Washington urges Opec to raise production

Crude oil prices yesterday jumped more than $1 a barrel after an unexpected drop in US crude and products inventories and strong demand growth. The inventories decline, which suggests a tightening of the crude oil market, came as the US government yesterday asked the Organisation of the Petroleum Exporting Countries to raise its production. The […]

Iraqi Oil Production Still Below Target

The U.S. has spent $2.7 billion to try to reconstruct the Iraqi oil industry, but has had little success amid security problems, sabotage, widespread corruption and theft, the investigative arm of Congress said Wednesday. Iraq produced more than 2 million barrels per day of oil in May, short of the U.S. government’s goal of 3 […]

Venezuela, Nicaragua make oil firm

A branch of the Venezuelan and the Nicaraguan state oil enterprises have created a joint venture called ALBA de Nicaragua (ALBANISA). Asdrubal Chavez president of ALBANISA said the Venezuelan side has a participation level of 55 percent and the Nicaragua 45 percent. The purpose of the firm will be to supply the necessary fuel to […]

Bombs put Kirkuk in line as next hotbed

The oil-rich northern region of Iraq has enjoyed comparative calm since the toppling of Saddam’s Hussein’s government. But Kirkuk province, which had been viewed by many as a model for the rest of the country, may be turning into the next hotbed of sectarian slaughter. Three bombings, including an enormous suicide truck blast, killed more […]

Global appetite for oil to drive price to $100 US by 2008: CIBC

A growing appetite for oil in the developing world and a seemingly unquenchable thirst for it in most developed countries will push prices to $80 US a barrel this year, and to $100 US by the end of 2008, a new report predicts. Triple-digit prices will be driven by major oil-producing countries in the developing […]

Pipeline attacks still not solved

When saboteurs blew up several natural gas pipelines in central Mexico this month, temporarily shutting down production for U.S. automakers and other important manufacturers, a small and shadowy Marxist guerrilla group called the Popular Revolutionary Army reportedly claimed responsibility. Four explosions in the Bajio, a central region that’s the stronghold of the ruling conservative National […]

Work on second leg of East-Siberian pipeline could start 2015

Construction on the second leg of the East Siberia-Pacific Ocean (ESPO) pipeline, managed by state-run pipeline operator Transneft, could begin in 2015-2017, a deputy industry and energy minister said Thursday. The ambitious East Siberia-Pacific Ocean oil pipeline is slated to pump up to 1.6 million barrels per day of crude from Siberia to Russia’s Far […]

Somali government to be paid bonuses from China oil discoveries

The Somali government will receive big bonuses from CNOOC on any significant discoveries of oil it makes in the country, the Financial Times reported. A production-sharing contract signed in May last year entitles the transitional federal government to 50 mln usd bonuses for any wells yielding over 200,000 barrels a day for 75 consecutive days, […]

Governor extends trucker order until July 28th (North Dakota)

Governor Hoeven has extended until July 28th an emergency order dealing with commercial truck drivers who haul fuel. It’s to help deal with an ongoing shortage at pipeline terminals caused by refinery problems in the Midwest. The order had been set to expire at midnight tonight. It waives the 15-hour work shift limit for fuel […]

Zimbabwe scraps fuel scheme as crisis deepens

Zimbabwe has scrapped a scheme allowing fuel purchases with foreign currency, removing one of the few remaining ways for people to acquire petrol in a country struggling with a crumbling economy. The facility is also used by foreign diplomats and officials working for international aid organisations. Reuters

South Korea’’s crude oil imports from Middle East up 13.4 percent

South Korea’s crude imports from Kuwait, the United Arab Emirates and Saudi Arabia increased in May, with imports from the whole Middle East growing 13.4 percent from the previous month to 61.47 million barrels, according to the latest data issued by the state-run Korea National Oil Corporation. Imports from the Middle East accounted for 78.8 […]

India eyes military favors for Myanmar oil

It appears that India is not going to make it easy for China to extend its influence in Myanmar to get a share of that country’s rich gas resources. While recent oil negotiations have faltered between India and Myanmar, increased military cooperation might be New Delhi’s second-best option to obtain favor and influence in the […]

Japan’s nuclear plans in disarray

Reports of radiation leakages at a nuclear power plant after the Niigata earthquake on Monday have raised widespread public alarm and dealt a devastating blow to the Japanese government’s plans to boost the nuclear-power industry, both domestically and abroad. “The problems now being reported from the Kashiwazaki-Kariwa nuclear plant are deeply alarming. They prove that […]

Fast Facts About Japan’s Nuclear Power Industry

The safety of Japan’s nuclear power industry is in the spotlight after Monday’s magnitude 6.8 earthquake caused a small fire and a leak of contaminated water at Tokyo Electric Power Co’s (TEPCO) Kashiwazaki-Kariwa nuclear power plant — the world’s largest — in northwest Japan. Here is an overview of nuclear power in Japan:INDUSTRY PROFILE – […]

Petrol pressure up with soaring oil price

World oil prices pushed toward historic highs overnight which will add renewed pressure to local petrol prices. Data showed US petrol inventories unexpectedly fell during the peak driving season, highlighting supply concerns.The surge in the oil price is expected to push petrol prices in Australia back towards $1.50 a litre at the pump. That will […]

Nanocrystals could lead to more viable alternative energy

A team of UC Davis professors has made a major advance in fuel cell research. The researchers, led by UC Davis professors Zuhair Munir, Umberto Anselmi-Tamburini and Sangtae Kim, have developed a way to make fuel cells more efficient by using nanocrystals. The discovery has been recognized by the magazine Nanotech Briefs and was included […]

From Wales, a box to make biofuel from car fumes

The world’s richest corporations and finest minds spend billions trying to solve the problem of carbon emissions, but three fishing buddies in North Wales believe they have cracked it. They have developed a box which they say can be fixed underneath a car in place of the exhaust to trap the greenhouse gases blamed for […]

Corn biofuel ‘dangerously oversold’ as green energy

Ethanol fuel made from corn may be being “dangerously oversold” as a green energy solution according to a new review of biofuels. The report concludes that the rapidly growing and heavily subsidised corn ethanol industry in the US will cause significant environmental damage without significantly reducing the country’s dependence on fossil fuels.“There are smarter solutions […]

New Energy Guidelines For PCs Aim To Cut Energy Use By 60%

When executives from the world’s largest oil companies say we need to cut back on our onsumers will soon get the chance to help save the planet and some money too, thanks to new guidelines coming out for personal computers. On Friday, the Environmental Protection Agency’s Energy Star Program will release more stringent requirements for […]

Lithium-Ion Motorcycles

Better batteries are making electric motorcycles possibleAdvanced battery technologies are enabling a much cleaner alternative to pollution-spewing gas-powered motorcycles and could help promote a larger-scale move toward electric vehicles. Yesterday, an electric scooter with motorcycle-like performance made by Vectrix, based in Newport, RI, was delivered to its first customer. And next year at least two […]

Is peat swamp worth more than palm oil plantations?

Could peat swamp be worth more intact as a carbon offset than as palm oil plantations for their oil? Analysis shows that with an offfset of $6.75 per ton of carbon, Indonesian peat swamps are more valuable as carbon offsets than as oil palm plantations. While such offsets are not yet a reality, it is […]

Decoding Mushroom’s Secrets Could Combat Carbon, Find Better Biofuels

Researchers at the University of Warwick are co-ordinating a global effort to sequence the genome of one of the World sciencedaily

Carbon crackdown

After years of talking about the threat of climate change while Congress did nothing about it, a bipartisan coalition of senators has finally produced a prototype piece of legislation that aims to reduce industrial emissions of greenhouse gases heating the globe.The United States is the world’s biggest producer of carbon dioxide, one of the compounds […]

Russia plans big nuclear expansion

Public antipathy and economic woes shelved those dreams for two decades. But now, under direct orders from the Kremlin, ambitious Soviet-era expansion plans are being dusted off and rapidly implemented csmonitor

FuelCell Energy Signs Federal Contract to Scale Up High-Efficiency Hydrogen Gas

FuelCell Energy, Inc. (Nasdaq:FCEL), a leading manufacturer of ultra-clean power plants using a variety of fuels for commercial, industrial, utility and government customers, today announced approval to scale up a product that separates hydrogen from a gas mixture while generating electricity. The Electrochemical Hydrogen Separation (EHS) system, developed for the U.S. Army Engineer Research and […]

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