Cuba: 2007, a good year for oil

For the third time, Cuba’s oil production will reach 4 million tons this year, which it has not done since 2003, and which is particularly important now given the fact that the price of crude on the international market is more than $90 per barrel. This has been a good year for oil, affirmed Carlos […]

Petrobras Sets Daily Production Record, Exceeds 2 Million Barrels

On Dec. 25, Petrobras set another daily oil production record in Brazil: 2,238,000 barrels, a mark few companies in the world have reached. The record is the outcome of six new platforms going online in 2007 alone. At peak production, the six new platforms will add 590,000 barrels to the installed capacity (maximum lifting capacity […]

Iran to Seek Bids for 19 Atomic Power Plants – MP

Iran will soon announce an international tender for building 19 nuclear power plants, an MP was quoted as saying, a week after Russia said it had begun fuel deliveries to the Islamic state’s first such facility. Kazem Jalali, a spokesman for parliament’s national security and foreign policy committee, said each power plant would have a […]

Flat-screen TVs devour electricity, jack up energy bills

Prices for big-screen television sets are dropping, but the cost of home entertainment may still be headed up. That is because the fancy screens shoppers are lugging home this holiday season consume far more electricity than their old-school predecessors. Consider that a 42-inch plasma set can consume more electricity than a full-sized refrigerator – even […]

World oil prices to remain high in 2008 – analysts

Oil prices of near $100 per barrel caused alarm in consuming countries in 2007 and analysts see another tense crude market next year with triple-figure records a real prospect. Despite a murky outlook for the world economy, crude prices are seen settling at elevated levels, spelling more pain for consumers and a steady flow of […]

Palm Oil Gains to Record on Demand for Food, Fuel

Palm oil prices in Malaysia, the global benchmark, rose to a record today as global demand for vegetable oils for food and alternative fuel outstripped supply. Oilseeds and vegetable oils are gaining from Chicago to Dalian on concern world inventories are dwindling as demand rises in China and India and governments subsidize the use of […]

EU’s Green Energy Plans Take Shape

New EU legislation aimed at having green energy account for 20 percent of the union’s overall energy consumption by 2020 is taking concrete shape, with draft proposals indicating that each EU state should contribute at least 5.75 percent to an overall target. Rich member states will carry a heavier burden, however. EU energy commissioner Andris […]

Russia is in need of firm handling

Russia starts 2008 with its confidence higher than at any time since the collapse of the Soviet Union. At home, President Vladimir Putin and his top officials have managed a succession which seems certain to ensure their grip on power for years to come. Abroad, Russia is increasingly willing to assert its influence, especially in […]

Denial Of Energy Crisis Is A Conditioned Response

…The charade of limitless consumption goes on today, further sanctified through the manufacture of close associations between nationalistic symbols such as the flag and icons of waste such as NASCAR and Hummers. The use by politicians of coded phrases like These prospects are hard for us to face. A member of an informal Seattle reading […]

Russia to Review Oil Pipeline Projects to China, Baltic Sea

(Bloomberg) — Russia’s Economy Ministry plans to examine delays to an oil pipeline to China and possible routes for another link to the Baltic Sea as the country seeks new channels for its fuel exports. Officials will prepare their own assessment of delays and cost overruns in the construction of the oil pipeline across eastern […]

NYPD to road test electric scooters

NEW YORK (AP) — Police working to keep the city safer will be trying to keep it greener too — by testing an electric, ultra-quiet scooter. Four plug-in Vectrix scooters will be road tested starting early next month as the New York Police Department tries to become more environmentally friendly and reduce gasoline use in […]

Chinese bid to build line makes waves

At first blush, the bid by Chinese oil company Sinopec to build a natural gas line from Alaska’s energy-rich North Slope may sound like a pipe dream. Shortly after Sinopec, the China Petroleum & Chemical Corp., was identified as one of five bidders on the project Nov. 28, human rights groups decried its dealings with […]

UK: Putting the brakes on bike thieves

Technology being developed at the University of Leeds could put the brakes on bicycle thieves and may also be useful in flagging suspicious events in public places, say researchers at the University of Leeds. PhD student Dima Damen, from the University

Official: Saudi-Japanese energy relationship is enormously important

…Al-Tubayyeb addressed issues relevant to Japan, which is the second largest economy in the world and receives 30 percent of its energy supplies through Saudi Aramco – about 1.2 million barrels per day of crude oil, in addition to LPG, naphtha and condensates. …He said the abundant supply of conventional oil resources will provide sustainable […]

Gazprom opposes foreign ownership of energy reserves: agencies

MOSCOW (AFP) – A top Gazprom executive voiced opposition on Wednesday to foreign ownership of Russian energy reserves, saying it could deprive Russian consumers of much-needed natural gas, news agencies reported. “We do not like foreign companies developing reserves,” Alexander Ananenkov, deputy chairman of state-owned Gazprom, was quoted by Interfax and RIA Novosti news agencies […]

China cuts oil products import tax for 2008

BEIJING, Dec 26 (Reuters) – China will halve its import tax on gasoline, diesel and kerosene to 1 percent next year, the Ministry of Finance said on Wednesday in the latest effort to encourage more overseas buying to meet strong demand. Beginning on Jan. 1, the import duty for fuel oil, of which China is […]

Carbon quota an eerie echo of Technocracy

…Although the report says there are a number of ways to organize this kind of rationing, it cites elements common to all of them. An “independent body” sets and polices the carbon caps. People surrender parts of their allowances as they buy fuel or book flights. With advanced credit card technology, carbon charges would be […]

Australia – Watchdog’s fuel plan may backfire: BP

ONE of the nation’s oil majors has warned that the competition watchdog’s plan to smash control over fuel storage facilities will do little to reduce petrol prices and could backfire, with higher costs for motorists. Responding to the revelation by The Australian yesterday of the Australian Competition and Consumer Commission’s strategy to encourage greater storage […]

Australia: No discount at Christmas fuels anger

MAJOR petrol suppliers have lined their pockets over Christmas, gouging an extra $3.5 million from motorists in just two days this week. Market analysts say Caltex, Shell and their supermarket partners Woolworths and Coles, as well as Mobil and BP, made an extra 3c a litre on Monday and Tuesday by abandoning the usual weekly […]

Rising demand tests Gazprom. Will it deliver?

Energy forecasters predict Gazprom will face difficulties satisfying demand for natural gas in the future. The warning comes as production at existing fields peaks while tapping new reserves involves huge technical difficulties. The good news is Gazprom has $US 250 billion in contracts until the year 2020. But the bad news – according to many […]

SKorea group to continue Kurdistan project despite Iraqi threat

SEOUL (AFP) – State-run Korea National Oil Corp said Wednesday it would not abandon an exploration project in Iraqi Kurdistan despite threats by the central Iraqi government to cut off oil supplies to South Korea. “There is no change in our position to go ahead with the project,” Jang Soo-Bum, an official in charge of […]

Oil Rises After Report Turkey Attacked Kurdish Rebels in Iraq

(Bloomberg) — Crude oil rose for a third day in New York on concern shipments from Iraq may be disrupted after the Turkish military attacked bases of Kurdish rebels in northern Iraq. Turkish jets bombed eight sites in northern Iraq today where the military suspected Kurdish rebels were setting up camp, the military said in […]

40 killed in Nigerian oil pipeline fire

LAGOS (AFP) – About 40 people have died in a fire at an oil pipeline after it was vandalised by looters in the southern Nigerian state of Lagos, a police spokesman said Wednesday. Thirty-four bodies had been recovered from the site of Tuesday’s explosion, said Lagos state police spokesman Frank Mba. The tragedy occurred when […]

Korea to Tighten Fuel Efficiency Standards 15% by 2012

Korea’s Ministry of Commerce, Industry and Energy said that it will tighten fuel economy standards for cars by 15% by 2012 compared to 2004, based on an agreement made with the auto industry in late 2005. Automakers are making efforts not only to enhance fuel efficiency by reducing the size of cars and improving engines […]

China report says coal to remain top energy source

China reiterated Wednesday its long-term dependence on coal for energy, but pledged to step up efforts to burn the fuel more cleanly to reduce its impact on global warming. In its first white paper on energy, the Chinese government also vowed to develop sustainable energy industries, and said its booming demand for fuel would not […]

New oil reserves in Brazil face technical, cost problems

Brazil has to solve a series of technology and cost-related problems before its newly-discovered oil field with an estimated reserve of up to 8 billion barrels could pump oil for the country and the thirsty world market, analysts said. In November, state-owned company Petrobras said it discovered some oil reserves in the Tupi field at […]

For Stable Oil Supply: Seoul Should Actively Engage in Energy Diplomacy

Energy officials and oil importers are concerned over a warning from Iraq that it will suspend oil exports to South Korea unless companies here stop oil exploration in the northern Kurdish region of the Middle Eastern country. The warning is feared to deal a blow to the country as its oil supply totally depends on […]

Uranium exploration in Africa: global hunger for cleaner, cheaper energy

Resurgent global interest in nuclear power has made Zambia, a southern African nation better known for its vast copper reserves, into a hotbed of uranium exploration. The search for uranium in Zambia is part of a larger wave of uranium exploration and mining across mineral-rich southern Africa that is raising hopes of new jobs and […]

Sinopec forecasts a rise in production

BEIJING, Dec. 26 — Sinopec Corp said it expects to process 42.5 million tons of crude oil in the final quarter this year, up 7.5 percent from the third quarter, as China’s largest refined oil supplier acts to counter a fuel shortage. The amount represents an increment of 500,000 tons over its original fourth-quarter plan, […]

Beijing to switch to cleaner fuel: report

BEIJING (Reuters) – China will phase in cleaner motor fuel in Beijing in the next two months while keeping pump prices unchanged, a local newspaper said on Tuesday, in a move to clean the capital’s smoggy skies ahead of the Beijing Olympic Games. Oil product wholesalers and retailers will be required to start supplying gasoline […]

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