MAXJet Airways grounded by fuel prices

All-business-class airline files for bankruptcy, blaming higher fuel costs and troubled credit markets. LONDON (AP) — MAXjet Airways ceased operations on Monday – leaving jets on tarmacs and stranding passengers on Christmas Eve – as the all-business class airline filed for bankruptcy protection. MAXjet took what it called a “drastic measure” because of soaring fuel […]

Are We Missing Russian Oil Megaprojects?

This piece looks at the question of whether the Russian oil production increases of recent years might have been due in part to projects that should have been listed as megaprojects, but went missing due to lack of transparency on the part of Russian companies (or at least lack of transparency to English speaking readers). […]

EPA chief is said to have ignored staff

The head of the agency rejected written findings in ruling against a California emissions law, sources say. The head of the U.S. Environmental Protection Agency ignored his staff’s written findings in denying California’s request for a waiver to implement its landmark law to slash greenhouse gases from vehicles, sources inside and outside the agency told […]

The third rail of world politics

Subway stations post stern warnings about getting near the tracks not only because one might get run over, but also because those tracks often include an exposed, electrified third rail that powers the subway trains. That fact has given birth to a common metaphor in the United States where it is often said that the […]

UK: Will the petrol pumps dry up?

Fuel price protesters have warned they will launch more disruptive action next year if the Government refuses to listen to them. Lobby group Transaction 2007 has vowed “2000 is likely to happen all over again” if the Government does not heed their warnings on the rising cost of petrol and diesel. In 2000 lorry drivers […]

Iraq warns S Korea against Kurdish region oil exploration

SEOUL, Dec. 24 (Xinhua) — Iraq has issued a warning, saying that it may cut off oil exports to South Korea unless South Korean energy companies halt oil exploration in the Kurdish region, South Korea’s Yonhap News Agency reported on Monday. The Iraqi government has given SK Energy Co., a leading South Korean refiner, the […]

Beer Industry Warns Of The

The average price of a pint of bitter in Britain’s pubs could rise from around But brewers are also suffering from rises in fuel costs and the price of the metals used to produce kegs and cans. “Food prices have increased dramatically and that has affected, for us, the price of barley and hops, which […]

High oil prices to stifle Gulf crude output in long term

Gulf oil heavyweights are reaping the fruits of strong oil prices in the short term but their crude production could plunge by at least 12 million barrels per day in the long term, according to an official US report. In case oil prices remain above $90 a barrel, the crude oil output of the UAE […]

Africom and the new scramble for Africa

The recent unveiling of Africom by the Bush administration is the clearest indicator yet of the military establishment’s continued ascendancy over the State Department in formulation and implementation of foreign policy, a trajectory that began soon after the conclusion of World War II.However, if there is one single reason, almost equal in weight to all […]

Uncertainty keeps coal prices high

Coal prices are likely to remain strong next year, close to this year’s average levels, because there are many supply uncertainties despite the emergence of the United States as a major exporter. Coal prices surged to record highs this year after a shift from historically abundant supply to tightness due to a leap in Chinese […]

Russia: Companies guilty of wasting gas to face fines

The government is calling on oil companies to utilise more of the gas produced as a by-product of oil extraction – usually called associated gas. It wants the industry to reduce flaring – or burning off waste gas – and to increase its use by more than 90% over the next three years. The issue […]

Small oil firm gambles on Arctic

OOOGURUK ISLAND, Alaska (AP) — Drilling in a field capable of yielding as much as 90 million barrels of oil seemed just right for Pioneer Natural Resources Co. — except for one thing. The field sits about three miles offshore in the Arctic Ocean. Undaunted, the Irving, Texas, company had a solution. Build a gravel […]

‘Drilling Up’ Into Space for Energy

While great nations fretted over coal, oil and global warming, one of the smallest at the U.N. climate conference was looking toward the heavens for its energy. The annual meeting’s corridors can be a sounding board for unlikely “solutions” to climate change — from filling the skies with soot to block the sun, to cultivating […]

Gov’t tries to contain mortgage crisis

…The trouble is that the credit crisis is occurring at the same time that a run-up in energy prices is increasing inflationary pressures. And that is the dilemma. If the Fed cuts interest rates to keep the economy out of a recession, it could sow the seeds for higher inflation and perhaps give the country […]

Exxon Pipeline to China Is Blocked

ExxonMobil has been denied permission to start work on a gas pipeline to China from Sakhalin-1 this year, the Industry and Energy Ministry said in a statement on its web site Friday. The government also refused to allow Exxon to invest in drilling oil deposits discovered near the Sakhalin-1 boundaries, the ministry said. The government […]

Haiti seeking Chevron’s help to import Venezuelan fuel

PORT-AU-PRINCE, Haiti (AP) – Haiti is seeking a contract with Chevron Corp. to ship Venezuelan oil purchased under President Hugo Chavez’s discount fuel program, a government official said Sunday. Haiti joined Chavez’s Petrocaribe initiative more than a year ago, but has been unable to transport or receive any oil shipments so far, said Michael Lecorps, […]

Dollar’s slide adds to rise in energy, food prices; outlook for ‘08 is unclear

NEW YORK Dave Minucci listens to the chatter on Wall Street about the flagging dollar but doesn’t have to look far to cast his own assessment. A recent home heating bill was $120 higher than at the same time last year. But Minucci doesn’t blame lower temperatures; the chill he feels is from higher energy […]

Clouds over Nigeria’s oil industry

LAGOS (AFP) – Despite being the world’s eighth petroleum exporter and sitting on huge gas reserves, Nigeria will not have it easy over the next two years, between peristent unrest in the Niger Delta and strained relations with the major oil companies. “In view of the current problems, their goal of 4.0 million barrels per […]

Iran says gets 90% of oil income in euros, yen

TEHRAN, Dec 23 (Reuters) – Iran has boosted oil export earnings in non-U.S. dollar currencies to 90 percent, a senior official said on Sunday, making clear the world’s fourth-largest crude exporter would continue to reduce its dollar exposure. Iran, embroiled in a standoff with the West over its nuclear programme, has for two years been […]

The Fuel Fixers

How the scarcity of oil may be making our antibribery laws obsolete. …The case raises a number of questions, including this one: in an era of scarce oil, can America afford to punish anyone who cuts corners to win deals for American firms? In 2003, when oil sold for less than $30 a barrel, it […]

Iran: Bushehr plant ready by March

TEHRAN, Iran (CNN) — Iran’s first nuclear power plant will be operational within three months, providing electricity to Iran’s national power grid by the summer, according to Iranian Energy Minister Parviz Fattah. Russia, which is building the Bushehr plant for Iran, started delivering nuclear fuel to the facility a week ago as part of a […]

Elect me and oil prices instantly drop, says Hillary Clinton in Iowa

MANCHESTER, N.H. – Hillary Clinton predicted Saturday that just electing her President will cut the price of oil. When the world hears her commitment at her inauguration about ending American dependence on foreign fuel, Clinton says, oil-pumping countries will lower prices to stifle America’s incentive to develop alternative energy. “I predict to you, the oil-producing […]

African giraffes highly endangered: study

Man and mother nature are threatening at least six distinct species of African giraffe, which are highly endangered and could face extinction if not protected, a study warned Saturday. Africa’s 110,000-strong giraffe population, initially thought to be comprised of a single species found in all its savannas, has been severely fragmented by increasing aridity and […]

Saudi arrests 28 Qaeda suspects over attack plot

RIYADH (AFP) – Saudi Arabia announced on Sunday the arrest of 28 Al-Qaeda linked suspects for planning attacks in the oil-rich kingdom, following an alleged plot to commit a “terrorist act” during the annual Muslim pilgrimage, or hajj. “Since December 14, 28 members of the deviant group (the term used by the Saudi authorities for […]

Oil-field-services companies likely to see more mergers

Oil-field services companies may have to consolidate to win more business from state-owned oil firms in the Middle East and elsewhere, the top officer of the world’s third-largest oil-field services company said. “Over the next five years, I think that will happen,” said Chad Deaton, chairman and CEO of Houston-based Baker Hughes.Mergers will be driven […]

Life after peak oil

Following an initial period of painful adaptation, we can live happily and healthily in a world with high energy costsMany people think mistakenly that modern prosperity was founded on this fossil energy revolution, and that when the oil and coal is gone, it is back to the Stone Age. If we had no fossil energy, […]

Gas ‘manipulation’ will push up UK bills

British households should prepare for a rise in energy prices in the New Year because power companies on the Continent are hoarding gas. Consumer group Energywatch warns consumers will be hit despite there being plentiful reserves of gas that could be piped to the UK. It is not the first time that some of Europe’s […]

Nuclear waste could power Britain

A plan by the nuclear industry to build a But the plan is controversial. A report by the Nuclear Decommissioning Authority, which operates the Cumbrian plant and backs the plan, acknowledges the move could have ‘downside’ economic costs, although it also stresses it has many benefits. In addition, green groups say the move would lead […]

UAE will revalue currency by July says bank

The United Arab Emirates was 60 per cent likely to revalue its dollar-pegged dirham unilaterally or in conjunction with other Gulf oil producers in the first half of next year, an investment bank has predicted. The UAE could allow its dirham to rise between 3 percent and 5 percent “if GCC countries decide to continue […]

Mexican drivers face slight fuel hike in January

MEXICO CITY, Dec 21 (Reuters) – Mexican drivers will pay a tad more to fill up their tanks beginning in January, as the government implements a fiscal overhaul meant to expand the country’s meager tax base. Mexicans will pay an additional 2 centavos, less than a fifth of a U.S. cent, per liter of standard […]

« Previous Page — Next Page »

LATEST NEWS HEADLINES

• Why the IEA is Wrong About Peak Oil Demand
• Did we inadvertently speed global warming?  
• Venezuela’s Oil Monopoly Eases
• Why Germany is Choosing Natural Gas Over Nuclear Power
• U.S. coal-fired electricity generation decreased in 2022 and 2023

• America Cracks Down on Methane Emissions from Oil and Gas Facilities
• Meet America’s Newest Oil Trader Extraordinaire: Joe Biden
• Is It Time To Refill America’s Strategic Petroleum Reserve?
• Oil prices set to end year 10% lower as demand concerns snap winning streak
• What’s Driving America’s New Oil and Gas Boom?
• China’s peak oil demand bombshell eviscerates Danielle Smith’s energy strategy