African oil to increasingly fuel Asian growth – Nigerian oil executive

SINGAPORE (Thomson Financial) – Africa’s oil industry is set to increasingly fuel Asia’s booming economies but infrastructure investment is needed to make the sector more globally competitive, an executive of a Nigerian oil company said Wednesday. ‘There has been a boom in the oil trade between Africa and Asia over the recent years,’ said Reg […]

Matt Simmons: Take to the Water to Move People, Goods

As much as the SUV has been depicted as Public Enemy #1 in the campaign to increase the fuel efficiency of vehicles, Matthew Simmons says the SUV isn As bad as traffic congestion is today, it

Mexico pipeline attacks raise fear of ‘New Nigeria’

NEW YORK (Reuters) – A series of attacks on Mexico’s fuel pipelines this summer has raised fears the key energy supplier could slide into a Nigeria-style struggle to keep its oil and gas flowing, experts said on Tuesday. A shadowy leftist rebel group has claimed two coordinated bomb attacks on Mexican pipelines since July. The […]

Soaring wheat, oil prices spark global inflation fears

As central banks prepare to cut interest rates to relieve a global credit crunch, they’re being stalked by the threat of inflation. Wheat prices rose to record highs on global markets today. Oil prices rose to near-record levels. And as pork prices soar, China posted its highest inflation figures in more than a decade. ABC

Kurdistan’s Gushing Crude Spawns Conflict

Iraq has 115 billion barrels of proven oil reserves, but its actual oil wealth is believed to be significantly higher. Iraqi Kurdistan and the oil-rich region of Kirkuk are prime territories for speculators because of their large proven and potential reserves. The three northern provinces of Iraqi Kurdistan are also the safest region in Iraq, […]

Saudi Arabia Wins OPEC Increase, Defying Iran, Libya

Saudi Arabia persuaded OPEC members to increase production for the first time in a year, seeking to reduce the record price of oil, over the objections of Iran, Qatar, Venezuela, Libya and Algeria. Saudi Arabia, the group’s biggest exporter, wanted to boost supplies after crude gained 28 percent this year to $78 a barrel, said […]

OECD blasts EU biofuels rush

Government support for biofuels will cause food shortages and lead to the destruction of natural habitats – while making little impact on climate change, warned the Organisation for Economic Cooperation and Development (OECD), delivering a blow to EU plans to obtain 10% of its transport fuel from plants by 2020. Even in the ‘best-case scenario’, […]

World Bank Project to Help Light Up Sub-Saharan Africa

Power to the people. This is the objective of a new initiative to provide modern lighting to the 250 million people in sub-Saharan Africa who have no access to electricity. Jointly managed by the bank and its private sector lending arm, the International Finance Corporation (IFC), Lighting Africa aims to develop market conditions for the […]

UK: Farms ‘to see energy crop takeover’

Up to a fifth of Britain’s farmland could be covered in “energy crops” by the year 2020, it has been claimed. One plant in particular is likely to transform the landscape of rural Britain.Miscanthus is a type of grass which can reach a height of more than nine feet. Harvested annually, it grows lush and […]

Bubble Energy?

“In the future, scientists will learn how to convert stupidity into clean fuel.” Prediction #16, The Dilbert Future , 1997, Scott Adams. Talk of an alternative energy “bubble” started percolating in the trade and cyber-press over the past several months. The fact is, the staid Dow Jones industrial average has done as well or better […]

Palm oil: Malaysian asset or liability?

Oil palm has been singled by some environmental groups as entirely responsible for the declining population of orang utans in Borneo. They say the clearing of large tracts of rainforest for oil palm cultivation has destroyed much of the orang utan’s natural habitat. Such critics may not know that almost all oil palm in Malaysia […]

Oil reserves not running out anytime soon

It is not possible to calculate when the world’s oil supply will run dry exactly because of this: Reserves are constantly in motion along with technology and the market. The world oil production steadily has been increasing since the early 1900s. As such, the price of gasoline today is significantly cheaper than the previous 150 […]

World Oil Outlook: Consumption Increases, Inventories To Decline In 4th Quarter

Consumption. World oil consumption rose by 1.2 million barrels per day (bbl/d) in the second quarter of 2007 compared with year-earlier levels. China, the Middle East, the United States, and India accounted for most of the increase in oil consumption. EIA projects that world oil consumption will increase at a year-over-year rate of 1.8 million […]

Faroe: Preparing for the post oil era

Shetland and neighbouring Faroe Islands are both to spend oil revenues to create an economy eventually independent of oil. Opening the Energy from the Edge symposium in Lerwick yesterday morning, the Faroese prime minister Joannes Eidesgaard announced that his country would spend at least 10 per cent of its oil revenues to stimulate research to […]

Norway: Oil’s golden years stifled innovation

For the average Norwegian, these are golden years. In the 1970s its citizens were close to the bottom of inter-national rankings of per capita wealth at about $4,000, but today they are at the top with $35,000 – all thanks to a stroke of geological good fortune that deposited huge wealth under the seabed millions […]

Southeast Asia gears up for palm oil boom

Southeast Asian nations are gearing up for a palm oil boom as interest in biofuels soars, but activists warn the crop may not satisfy a global thirst for energy that is both clean and green. They caution that oil palm plantations require massive swathes of land — either what’s left of the region’s disappearing forests, […]

TOD EUR: More on the Systematics of Hubbert Linearisation

This post is aimed at bridging the gap between a face value interpretation of reserves based on the Qt intercept of a well-defined linear decline trend on Hubbert Linearisation and a more progressive interpretation that takes into account political and wider economic interference with resource exploitation. Empirical approach The actual crude + condensate + natural […]

FAO Warns Climate Change Could be Major Threat to Food Security

The UN Food and Agriculture Organization says climate change could become a “major threat to world food security.” It calls climate change one of the “main challenges humankind will have to face for many years to come.” About 140 international experts are meeting in Rome this week to discuss the issue. One of them is […]

Energy efficient appliances should be made compulsory, says UN expert

Governments should make energy efficient appliances and building materials compulsory because that is the smartest way of controlling greenhouse gas emissions, a U.N. expert said Tuesday. The technology for making appliances that use less electricity — such as light bulbs, air conditioners and refrigerators — already exists but manufacturers don’t make them because there is […]

IEA sounds ‘wake-up call’ on energy savings

With sustained economic growth, the rising demand for travel, homes and leisure in the developed world has led to a 14% increase in energy-use and related CO2 emissions since 1990, the International Energy Agency (IEA) has warned in a new report.The report, Energy Use in the New Millennium, was published on 10 September as the […]

Crude Oil Rises to Record Close on Signs OPEC Won’t Meet Demand

Crude oil rose to a record close of $78.23 a barrel in New York on speculation that OPEC’s agreement to increase production by 500,000 barrels a day will be insufficient to meet strengthening demand. “We are going to need more than 500,000 barrels to meet rising demand,” said Tom Bentz, a broker at BNP Paribas […]

Saudi-like oil monopoly ‘ultimate goal’ for Nigeria: minister

Nigeria’s energy minister said on Monday that the Saudi Arabian state-owned oil monopoly Aramco was a model for his country’s restructuring national oil producer. Odein Ajumogobia, who began as minister only six weeks ago, also stressed a “misalignment” between the objectives of private, foreign oil companies and the aspirations of the country.“Saudi Aramco is perhaps […]

Canadian oilsands gain importance as others cut exports

Alberta’s oilsands could put Canada “in the front ranks” of energy producers in a few years as other oil-producing countries reduce their exports, says CIBC World Markets. The world’s leading oil countries are likely to see their exports drop by some 2.5 million barrels a day by the end of the decade, the CIBC’s investment […]

Mexico Investigates Oil and Gas Pipeline Blasts

Mexican authorities are investigating a series of gas and oil pipeline explosions that forced the evacuation of thousands of people in eastern Veracruz state. The six explosions caused fires along the pipelines Monday, but there were no reports of casualties.The blasts caused hundreds of millions of dollars in damage to state oil monopoly Pemex, which […]

KRG responds to Dr Shahristani

The Kurdistan Regional Government (KRG) would like to make it clear that Dr Shahristani’s recent remarks about the legality of the KRG’s oil and gas contracts are totally unacceptable. His views are irrelevant to what the KRG is doing legally and constitutionally in Kurdistan. Dr Shahristani should concentrate on making a positive contribution to the […]

Oil hits new record on supply concerns

NEW YORK – Oil prices rose to a new record settlement price Tuesday as traders turned their attention to a government inventory report expected to show tight supplies and shrugged off OPEC’s decision to boost output. Even factoring in OPEC’s decision to increase oil production by 500,000 barrels per day starting Nov. 1, “supplies are […]

Analysis: Iran moves to ditch U.S. dollar

WASHINGTON, Sept. 10 (UPI) — Faced with U.S. economic sanctions and a weak dollar, Tehran is demanding foreign energy companies do business in yen and euros, despite increasingly desperate need for investment. In a deal announced last week, Japan

Analysis: Poland’s energy ambitions

BERLIN, Sept. 10 (UPI) — Poland is one of the least energy import dependent countries in Eastern Europe, but among the fiercest when it comes to its desire to dominate energy security policy in Europe. “Poland sees itself as a precursor in Europe when it comes to energy policy,” Kai-Olaf Lang, Poland expert at the […]

ENVIRONMENT – GERMANY: What a Lake Says About Climate Change

BERLIN, Sep 11 (IPS/IFEJ) – When the East German nuclear power plant Rheinsberg was shut down almost 20 years ago, environmentalists expected that fauna and flora in nearby Stechlin lake would survive without further damage. The power plant in the city 75 km north of Berlin had been functioning since 1966. It took some 300,000 […]

Climate-change paradox: Greenhouse gas is Big Oil boon

Snyder, Texas – Gazing across a rejuvenated old West Texas oil field, Larry Adams sings the praises of carbon dioxide. That might seem odd. The gas is linked to global warming, which has prompted calls from governments and environmentalists alike to reduce oil use. But here at the SACROC field in America’s fading oil belt, […]

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