Secrets of Shell and Rolls-Royce come under attack from China

Rolls-Royce and Royal Dutch Shell have fallen victim to Chinese espionage attacks, The Times has learnt. Sustained spying assaults on Britain …Shell, an Anglo-Dutch group, had to deal with a spying ring in Houston, Texas, security sources told The Times. Chinese nationals working for the company were preyed upon by state-backed operatives hoping to obtain […]

Nigerian militants claim responsibility for port explosion

PORT HARCOURT, Nigeria: Militants said Friday they remotely detonated an explosive device placed on a docked ship, and authorities said two people were injured in the fiery incident in restive southern Nigeria. No deaths were recorded when the vessel at a port caught fire, sending smoke high into the sky, said a Rivers State police […]

Totally different

Christophe de Margerie, the boss of Total, thinks that the world’s oil production may be nearing its peak …Many bigwigs in the industry have complained that their firms are excluded from the most promising territory for exploration by prickly governments that would prefer to go it alone. Some have concluded that this fad for Mr […]

Nuclear Britain

On Thursday 10th January 2008 Business Secretary John Hutton announced to MPs that he was giving the green light for new nuclear build in the UK. He is inviting energy companies to bring forward plans to build and operate new nuclear power plants. However considering the The Oil Drum: Europe

How Peak Oil Changed My Life

Peak oil changed my life by altering my expectations and hopes for the future. I was once a techno-science lover. I looked to the future, and saw technology changing the world, and solving all of its problems: outposts on the moon and Mars, a cure for all diseases and maybe even a cure for death, […]

Tar Sands vs. Clean Water: Eating the Earth for Cars

The tar sands production center in northern Alberta in Canada is one of the clearest signs that the easy-to-get oil is on the wane. Tar sands are a low grade hydrocarbon deposit that requires enormous energy input to process and convert it into something resembling petroleum. They are not technically petroleum, but a sludge that […]

Who’s Afraid of Mideast Money?

The men who manage the region’s sovereign wealth funds are using the billions from Persian Gulf oil revenues to change the face of global finance Deep inside a fortress of government ministries in Kuwait City, Bader M. Al Sa’ad moves billion-dollar chunks of wealth around the world like chess pieces. Slim and stately, the head […]

The High Costs of Doing Nothing, Part II

In November 2006, California voters rejected Proposition 87, a ballot initiative to raise the oil industry What changed between the survey and the vote? The oil industry pumped more than $60 million into a campaign to defeat the measure. Proposition 87 contained a specific provision that would have forbidden oil companies from passing the tax […]

Nigerian Attacks: Is Oil Market ‘Immune’ From Chaos?

Nigeria Has the market grown weary of these attacks? Many traders that I talk to say–yes. They point out that while MEND

BNSF building hydrogen-powered fuel cell locomotive

What may be the world’s first hydrogen-powered fuel cell locomotive is being built in Topeka, promising a reduction in use of imported oil and emission carbon dioxide that pollutes the atmosphere. The skeleton of the new machine was on display Wednesday in the BNSF Railway Co. shops in Topeka. Developers hope to have the first […]

Nigerian Militants Warn Major Oil Attack Imminent

A prominent militant group in Nigeria’s oil producing south says a major attack on the oil industry is imminent and has warned foreigners to leave the region for their own safety. Gilbert da Costa reports the threat comes days after militants attacked four ships in the troubled region. The Movement for the Emancipation of the […]

OPEC Should Increase Output to Rebuild Inventories, Lehman Says

(Bloomberg) — OPEC, the producer of 40 percent of the world’s oil, should agree to add more supplies to the market when it meets early next month, the chief energy economist of Lehman Brothers Holdings Inc. said. “What they should do is put more oil in the market to allow inventories to rebuild,” Edward Morse […]

Redford Takes on `Goliath’ in Texas to Block Coal-Fired Plants

(Bloomberg) — The Sundance Kid is taking on “Goliath” to block the building of coal-fired electricity plants in Texas, the most power-hungry state in the U.S. Robert Redford, the actor, movie director and longtime environmentalist, narrates “Fighting Goliath: Texas Coal Wars,” a documentary chronicling the efforts of a group of Texas mayors and citizens to […]

$750-Million Contract Boosts Gulf Hurricane Cleanup Work

Two years after Hurricanes Katrina and Rita hit the Gulf of Mexico, oil and gas companies have cleaned up just half the mess made by the storms, and the work is expected to continue until 2013, according to the federal Minerals Management Service (MMS). But a $750-million contract recently awarded by a group of platform […]

Ames Laboratory Is

AMES, Iowa Anderson explained that future ultragreen vehicles include fully electric cars, fuel-cell automobiles and plug-in hybrids.

Report: Oil, LNG Tankers Vulnerable

WASHINGTON (AP) Also, said the report, some ports visited by the government auditors did not have the resources needed to promptly respond to a terrorist attack on a crude oil or LNG tanker, including a shortage of fire boats and inadequately trained people. The GAO report said past incidents overseas have shown that fuel-carrying tankers […]

Specter of energy rationing looms heavily over Brazil

Brazil’s Energy Minister denied reports Wednesday that a short supply of natural gas from Bolivia and a lack of rain might force Brazil, which relies heavily on hydroelectric power, to ration energy later this year. Nelson Hubner said Brazil’s situation today is “very different from 2001,” when the low level of water in dam reservations […]

Holding Daniel Yergin and CERA Accountable

This post started when I heard Daniel Yergin, the CNBC Energy Analyst interviewed by Larry Kudlow on Sept. 14, 2007. Yergin claimed that the high price of oil was not supported by the fundamentals. My jaw fell to the floor. Last year, the price of oil deserved to plummet by 20% (which it did). The […]

Carmaker in India unveils $2,500 car

NEW DELHI Company Chairman Ratan Tata has said the car will be the least polluting car in India and meet necessary safety standards. Chief U.N. climate scientist Rajendra Pachauri, who shared last year’s Nobel Peace Prize, said last month that “I am having nightmares” about the prospect of the low-cost car. Introducing the car at […]

North Sea Brent Oil Daily Shipments Will Fall 8% in February

(Bloomberg) — Daily shipments of North Sea Brent crude, part of the price benchmark for almost two-thirds of the world’s oil, will fall by about 8 percent in February. Tankers are set to load 184,552 barrels a day of Brent crude in February, down from 200,645 barrels a day scheduled for January, according to the […]

Global Oil Supply Challenges Will Drive Crude Prices to US$150

Modest Russian Production Growth to be Gobbled up by Domestic Demand Consumers should brace for a 50 per cent jump in oil prices in the near future as global oil supply will increasingly have trouble keeping pace with demand, forecasts a new energy report from CIBC World Markets. The report predicts that surging demand in […]

Russia Struggles To Supply Power To Domestic Consumers

Distracted by the country’s longest festive season, Russia has faced a series of power outages in early January, including in areas where temperatures plummet to extreme lows. The accidents came as an ominous reminder that Russia needs to improve and redevelop its basic infrastructure, specifically to rehabilitate power and heating supply systems after years of […]

Mexico’s Pemex stopping US West Coast oil exports

MEXICO CITY, Jan 9 (Reuters) – Mexican state oil monopoly Pemex will stop shipping crude oil to the U.S. West Coast from February due in part to a shortage of infrastructure at Salina Cruz port, the company said on Wednesday. Pemex was only shipping a tiny 20,000 barrels per day of oil to the U.S. […]

Saudi not set to sell more for Feb despite $100 oil

SINGAPORE – Saudi Arabia is unlikely to offer extra crude for February to Asian buyers, even after oil hit $100 last week, as most refiners have little need and ability to process additional heavy sour crude, refining sources said. The kingdom raised term exports to Asia by a tenth for November to full contracted volumes […]

Germany to remain anti-nuclear stronghold

Germany will uphold staunch political opposition to atomic energy, unperturbed by the mood swinging back in favour of nuclear power elsewhere. Oil at record highs, climate worries, and the need to cut dependency on energy imports is due to move the British government to back new nuclear power plants on Thursday. But Germany, Europe’s biggest […]

Global warming ‘changing world economy’

Global warming is forcing the world to change the way it does business, according to a new report. A more sustainable global economy is emerging as countries and companies move to combat the challenges posed by climate change.Huge amounts of money are pouring into clean energy projects, carbon trading and environmental and energy hedge funds, […]

China poised to be world leader in renewable energy, expert predicts

China is poised to become a global leader in renewable energy in the next few years, the head of environmental research group Worldwatch said Wednesday. “I think China will be number one in less than three years in every renewable energy market in the world,” Worldwatch president Chris Flavin told reporters at the launch of […]

Daimler, ADM, Bayer to test Jatropha for biodiesel

German carmaker Daimler AG has teamed up with Archer Daniels Midland and Bayer CropScience to explore tropical plant Jatropha as a biodiesel fuel, Daimler said. “Biodiesel derived from Jatropha nut kernels has properties similar to those of biofuels obtained from oilseed rapes. It is also characterised by a positive CO2 balance and can thus contribute […]

China gets first toehold in Canadian uranium

Chinese steelmaker Sinosteel Corp has signed a memorandum of understanding with small Canadian explorer Ditem Explorations that could lead to it taking an equity stake in the firm. Ditem said it had signed the deal with Sinosteel last month, providing the groundwork for exploration of its uranium properties and new properties in the Athabasca basin.China’s […]

Kazakhstan to Increase Uranium Output Fivefold, Overtake Canada

Kazakhstan, the world’s third-biggest uranium producer, plans to increase output fivefold within a decade and overtake Canada as the largest supplier of nuclear fuel.“It’s important for Kazakhstan to get the maximum stake in the nuclear fuel market,” Dzhakishev, 44, said from Almaty. “The price of uranium will definitely continue to rise because of the excessive […]

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