US, China to reward North Korea with fuel aid

The United States and China are preparing to provide tens of millions of dollars in fuel aid to North Korea as it moves to declare and disable its nuclear weapons program, US officials said Thursday. The planned aid came as US news reports quoting intelligence sources suggested that North Korea could be helping Syria build […]

Zambia shuts refinery after crude oil shortages

LUSAKA, Sept 14 (Reuters) – Zambia shut down its Indeni Oil Refinery on Sept. 1 for 25 days due to crude shortages, energy officials said on Friday. Zambia, which imports crude oil from the Middle East and refines it at Indeni, is conducting maintenance at the facility while awaiting adequate supplies, the officials said. The […]

Oil falls for first time in 10 sessions

…Many analysts blame oil’s recent rise on speculative investing. Kloza noted that nearly 600 million barrels of benchmark West Texas crude oil were traded Thursday on the Nymex, but that actual daily production of West Texas crude is only about 200,000 barrels. Tropical weather has also been widely cited as supporting prices. Humberto’s rapid growth […]

Hugo Chavez equips and funds the Pemex pipeline bombers

The subversive group, the Revolutionary Popular Army (EPR), that claimed responsibility yesterday the attacks against six gas pipelines of state-owned Mexican Petroleum (PEMEX), is financed by the government of Hugo Chavez, according to a press report based on the Mexican intelligence service. The media published, several weeks ago, a note titled

OPEC states’ realignment reflects oil supply reality

LONDON, Sept 14 (Reuters) – OPEC has published new oil supply targets for its 10 members bound by a pact to raise production, a move that reflects increases in production capacity in some countries and declines in others. …Under OPEC’s old quota system, changes in individual member states’ limits would have been made on a […]

Venezuela: Pdvsa revenues expected to exceed USD 100 billion

Pdvsa CEO showed no concern about a 15.9 percent drop in net profits in 2006, from USD 6.48 billion to USD 5.45 billion, despite booming oil prices As crude oil prices are above 2006 level, the board of directors of Venezuelan state-run oil corporation Pdvsa estimates overall revenues this year are to exceed USD 100 […]

OPEC chief says 80-dollar oil won’t last

VIENNA, Sept 14, 2007 (AFP) – OPEC chief Abdalla Salem El-Badri said Friday the current oil price of 80 dollars did not reflect fundamentals and was unlikely to last long. “I don’t think 80 dollars (per barrel) will last,” El-Badri told journalists here. “The fundamentals do not support the price.” El-Badri said that the current […]

The end of oil

A small – but growing – group of experts think world oil production will peak in the next few years, to devastating effect. NEW YORK (CNNMoney.com) — At some point in the near future, worldwide oil production will peak, then decline rapidly, causing depression-like conditions or even the starvation of billions across the globe. That’s […]

Nigeria: Country Moves to Halt U.S. Military

The Federal Government has begun moves to frustrate the plan by the United States to establish a military base in the Gulf of Guinea. The oil-rich gulf is bordered by Nigeria, Angola, Chad, Equatorial Guinea, Gabon, and Sao Tome and Principe US has been desperately wooing some countries in the West Africa sub-region to allow […]

OPEC Demand Outlook Unchanged

OPEC Sees World Oil Demand Rise of 1.3 Million Barrels Per Day Fueled by Developing Countries NEW YORK (AP) – In a monthly oil market report released Friday, the Organization of Petroleum exporting Countries (OPEC) left its outlook for world oil demand growth this year largely unchanged at 1.3 million barrels per day or 1.5 […]

Climate roadblocks

FOR years, the world has grown increasingly aware of the risks of global warming. Companies, households and governments, you would think, have been stepping up action on “no regrets” measures to improve their energy efficiency, saving money and emissions at the same time. Not so. The International Energy Agency this week revealed the exact reverse. […]

The Case For Nuclear Power

It’s a chance to meet our future energy needs while preserving the Earth’s climate I am addicted to electricity. So are you. And so is your business. We live in an “always on” world Of course, we could buy energy-saving appliances or drive fuel-efficient cars. We can recycle cans, bottles, and newspapers. We can even […]

Canada: Winter of discontent looms for gas drillers

Fears that pullback may extend into prime season With $100-million in gas well-fracturing equipment sitting idle, Canyon Services Group Inc. is clinging to the old market cliche that the best fix for low prices is, in fact, low prices. Still, the Alberta-based junior, which went public in May, 2006, at the height of the Western […]

Is it too late to stop the ethanol con job?

Not so long ago, you could feel complacent – smug even – about your little greenish exertions. You traded your SUV for a smaller set of wheels. You bought compact florescent bulbs and dragged the old push mower out of storage. You approved of ethanol and other biofuels and vowed to buy them whenever possible. […]

Problem dams on the rise in US

Pennsylvania has seen a fivefold increase in deficient dams since 1999. The Kaloko dam in Hawaii stood 116 years Such incidents are warning signs that many of the nation’s more than 87,000 dams are in need of repair. Last month’s high-profile collapse of the I-35 bridge in Minneapolis focused America’s attention on bridge problems. The […]

Collapse Happens: Exploring Options

Spotlighting “Earthwise” People come to us to learn about designing and building their own homes, understanding off-grid power systems, composting toilets and grey-water systems, on-farm slaughtering, bio-dynamic practices, spiritual gardening, dowsing, forest management, grazing systems, food preparation, timber harvesting, and working draft animals. We recognize that perhaps the most valuable product of our farm is […]

Michael Klare on the Internal War For Control of Iraq’s Oil

We speak with Michael Klare, author of “Blood and Oil: The Dangers and Consequences of America’s Growing Dependency on Imported Petroleum.” Klare says, “There’s a second war underway in Iraq that’s a war for the control of the oil wealth. That’s a war that is pitting Kurds against the Arabs of the country, Shiites against […]

Norway’s Oil Output Fell 7.3% in August From a Month Earlier

(Bloomberg) — Norway, the world’s fifth-largest oil exporter, said crude production in August decreased 7.3 percent from a month earlier. Output averaged 2.111 million barrels a day, compared with 2.277 million barrels a day in July, according to a statement posted today on the Web site of the Norwegian Petroleum Directorate, which oversees the nation’s […]

China’s expanding refining capacity won’t lead to increased oil product exports

INTERFAX-CHINA – China’s rapidly growing refining capacity is targeted at meeting soaring domestic demand, and as such is unlikely to lead to a significant increase in oil product exports before 2012, a senior consultant with Edinburgh-based energy consultancy, Wood Mackenzie, told Interfax at the 23rd Asia Pacific Petroleum Conference held in Singapore yesterday. With several […]

Asian Coal Prices May Rise 22% in 2008, Goldman Says

(Bloomberg) — Japanese utilities may have to pay 22 percent more for Australian coal next year after South Korean buyers locked in supplies seven months early, anticipating a shortage, Goldman Sachs JBWere Pty. said. Prices of thermal coal may jump to $68 a metric ton, the Melbourne-based securities firm said in a report yesterday, increasing […]

POSSIBLE FOOD UNREST IN CENTRAL ASIA

Harvest yields below projected levels combined with rising prices have analysts watching events in Central Asia, wondering if increased food prices might trigger civic protests. Poor weather has combined with the U.S. demand for ethanol bio-fuel to affect global grain prices. Because the United States exports most of the world Kazakhstan, however, again differs from […]

The Oil Drum: Declining Exports vs. High Inventories. What’s going on?

My contention is that instead of focusing on crude oil inventories, we need to focus on world net exports, crude oil prices, refinery utilization, product prices and product inventories…and from all of my work, I expect to see crude oil exports trending down, crude oil prices trending up, refinery utilization trending down, product prices trending […]

Ecocidal Tendencies: Must we destroy the family to save the world?

Is contemporary environmentalism motivated by genocidal fantasies? Responses to Daniel Engber’s analysis of calls for voluntary population control include several such accusations. Supporters for the proposition tend to argue that population reduction is coming; our only choices relate to how it will happen. Debate in the Fray seems to hinge on quasi-theological assumptions about the […]

Study: Cutbacks imperil climate research

WASHINGTON – The government’s climate change research is threatened by spending cuts that will reduce scientists’ observations from space and on the ground, a study says. A major problem, the National Research Council said Thursday, is the program director’s lack of authority to organize spending and research among the 13 different agencies that study the […]

What a gas

WeNepalTimes

Iraqi Kurds demand oil minister’s resignation

Iraq’s northern Kurdish administration has demanded Baghdad’s oil minister be sacked, following his remarks that oil contracts signed by the regional government are “illegal.” The call by the Kurdistan Regional Government (KRG) late Thursday deals another blow to attempts by Prime Minister Nuri al-Maliki to forge a national consenus on the controversial issue of dividing […]

Crude oil gushing to the $90 milestone

The price of crude oil may have fallen back yesterday after breaking the $80 (For investors, oil looks like a one-way bet, and as Citi pointed out in a research note yesterday, the computer-driven models used by hedge funds and traders have a huge influence on buying and selling: “And the models are all saying […]

Official Says Iraqi Oil Talks Deadlocked

Iraq’s main political parties are deadlocked over a key oil law and the legislation has been sent back to party leaders to see if they can salvage it, an official involved in the talks said Thursday. The Wednesday meeting failed after Shiite and Sunni Arab representatives were unable to agree with Kurdish negotiators, said the […]

Students examine the oil sands

One University of Calgary class aims to keep Alberta green, both environmentally and financially. The university’s environmental science department sent 22 students on a field school experience to study the oil sands and other potentially at-risk industrial environments throughout northern and southern Alberta. These excursions, which occurred two weeks prior to the beginning of the […]

Toxic jatropha not magic biofuel crop, experts warn

Oilseed plant jatropha does not offer an easy answer to biofuels problems as some countries hope, because it can be toxic and yields are unreliable, experts and industry officials warned on Wednesday.The woody plant can grow on barren, marginal land, and so is increasingly popular in countries such as China that are keen to boost […]

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