OPEC Jan Output Trickles Up To 33 Million B/D, Enough For 2Q – Tracker

DUBAI -(Dow Jones)- Crude oil production from the Organization of Petroleum Exporting Countries trickled higher in January, with the group’s present output sufficient to meet its share of global oil demand in the seasonally weaker April-June period, tanker tracker Petrologistics said Tuesday. The data underscore the expectation among oil ministers and analysts that the cartel […]

Oil firms boom on Iraq war

WASHINGTON, Jan. 28 (UPI) — As ExxonMobil prepares to celebrate what could be a record profit of more than $10 billion for the last quarter of 2007, jubilant company officials and stockholders might want to join in a moment of silence for the more than 1 million war dead in Iraq — Iraqi and American […]

Australia: Fuel drought as refinery problems cause shortages

MOTORISTS face the likelihood of petrol shortages amid claims oil companies are using refinery malfunctions to exploit consumers by inflating prices. Shell confirmed yesterday that its unleaded supplies were “tight” after the breakdown of the catalytic cracking unit at its Clyde refinery. Shell spokesman Peter Scott said outlets were short of unleaded while 100 sites […]

Three billion, famed investor Jim Rogers pointed out during a recent interview with EnergyTechStocks.com, is the number of people Finally, Rogers emphasized, despite their rapid economic development, per capita oil consumption in China and India is still only a fraction of that of South Korea and other developed Asian nations. Put it all together, Rogers […]

Nepal: Diesel, kerosene crunch worsens

Transport sector threatens strike KATHMANDU – A shortage of diesel and kerosene has gripped the country, creating panic in the transport sector, posing a threat to industry and badly hurting low-end consumers. On Monday, long queues of buses and micro-buses could be seen at Bhadrakali, Naxal and other leading gas stations in the Valley, while […]

Canada: People in need forced to beg for heating help

…One oil distributor told me on Monday that he Some delivery companies have increased their minimum orders because the cost of operating a delivery truck is also increasing. Diesel prices are high, insurance, even tires are all part of the expenses and then they must try and carve out a wage from the narrow operating […]

Hirsch: The WSJ article on a CERA oil decline study

On January 17, The Wall Street Journal published an article entitled New Fields May Offset Oil Drop, reporting and commenting on a study by CERA entitled, 2.“This study supports a view that there is no impending short-term peak in global oil production.” Comment: What does short-term mean? The world has been on a liquid fuels […]

Heavy footprint weighs down U.S. empire

Is the decline of the status of the United States a result of its heavy ecological footprint? A strong argument can be made that the fading of the American empire is fundamentally an environmental issue. In his book The Upside of Down, Canadian political scientist Thomas Homer-Dixon devotes a lot of space to an environmental […]

With Eye on US Econ Woes, OPEC Likely to Hold Output Steady

Despite calls by the Bush administration and European governments for OPEC to pump more oil, the cartel may actually look to cut output this spring if signs continue to point to increasing oil supplies and diminishing demand. Such a move could worsen global economic conditions if U.S. financial woes deepen, but OPEC’s quandary over whether […]

Price freezes squeeze Chinese farmers

While most Chinese consumers, particularly in urban areas, are relieved at the government’s decision to freeze prices on key household commodities, some of the country’s farmers argue their interests might be ignored. The Chinese government moved this month to restrict price hikes of daily necessities, such as grain, edible oil, meat, milk, eggs and liquefied […]

Japan Plans to Support Replacing Petrol With Wood

Japan is set to embark on a five-year plan this year to harness a new form of energy using unused wood biomass to produce auto fuels and other industrial products currently made from imported petrol. Japan, where two-thirds of the country is covered by forests, can supply a part of alternative fuels made from wood-origin […]

Crippled South African mines look for power shortages to end

South African mining companies said Monday that they hoped to resume production later this week, but there was no sign of an end to power shortages that have put jobs and economic growth at risk. The power shortage became a national emergency Friday, halting diamond, gold, platinum and other mines in the biggest African economy […]

Australia Rules Out Uranium Sales to India

The newly installed Australian Labor government has reversed a decision by the previous Howard administration to sell uranium yellowcake to India. Canberra has said it will ban such sales to New Delhi until it agrees to sign the Nuclear Nonproliferation Treaty. The previous Liberal-National coalition had followed a commitment by the Bush administration in the […]

Biodiesel film wins Sundance award

Biodiesel expert and environmentalist Josh Tickell’s documentary about biodiesel and America’s need for fuel independence received one of the Sundance Film Festival’s top honors at the festival’s awards ceremony in Park City, Utah, on Jan. 26. “Fields of Fuel” was chosen for the Audience Award for Best Documentary Film and was presented to Tickell by […]

Nokia Joins WWF Climate Savers with Key Energy Initiatives

Nokia has joined the WWF Climate Savers program with a pledge to build on its strong environmental record by improving energy efficiency and reducing carbon dioxide emissions across its business. The company is targeting a series of energy savings including halving the stand by energy used by its mobile phone chargers, using green electricity to […]

Sustainable heat drive key to Scotland taking green energy lead

January 2008 will be remembered as perhaps the most historic month in the renewables industry in Scotland when a 2020 vision for green energy was embraced by all north of the Border. Legislators were out of the blocks with three proposals – the European Commission’s energy plan, the UK government’s energy bill and the Scottish […]

Intel wires into green energy

Intel, the world’s biggest chipmaker, yesterday gave a boost to green power, becoming the largest corporate buyer in the US of renewable energy certificates (Recs). Intel said it would buy 1.3m megawatt hours worth of certificates every year – enough to power about 130,000 US homes – in a multi-year contract.The company is understood to […]

Kuwait upbeat on oilfield plan

KUWAIT: Kuwait was confident that the country’s legislature would pass a long-delayed plan to explore northern oilfields with the help from foreign firms, reports said yesterday. The northern oilfields, crucial to plans to raise output capacity, have been delayed for years by legislators who say the plan could give foreign firms control over the country’s […]

Russia

Russia-based energy giant Gazprom is seeking to extend its business relations with Turkey, with plans to launch new projects to enlarge its delivery area in the Middle East and Israel via Turkey in particular. Turkey faced another natural gas shortage earlier this winter as gas delivery from Iran to Turkey dropped in December 2007 and […]

Shell sparks fears over oil reserves

Royal Dutch Shell is to delay publication of key data about its oil reserves that it would normally have released alongside profits figures being published on Thursday. The decision has disappointed some analysts, who have been told that the subject will not even be “up for discussion” and which has sparked concern the reserves numbers […]

Money, Oil and Image

World Energy TV goes to the streets of Houston to find out the public’s perspective on rising energy cost, oil company profits, and government policy.

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OPEC Likely to Deny Bush’s Request for More Oil, Survey Shows

Jan. 29 (Bloomberg) — OPEC, the producer of more than 40 percent of the world’s oil, may reject U.S. President George W. Bush’s request to increase production and relieve the strain of rising energy costs. The Organization of Petroleum Exporting Countries will keep its output target unchanged at 29.67 million barrels a day when it […]

Gulf needs $50 oil to maintain investments

DUBAI: The Gulf states Brent crude, on which EFG

Brutal weather turns up the heat on mainland China inflation

Mainland authorities vowed yesterday to fight rising inflation as massive levels of snow and freezing rain threatened the country’s coal supplies, transportation networks and food production. Power shortages have affected 17 mainland provinces, half the country, National Development and Reform Commission spokesman Zhu Hongren said yesterday. “The energy supply shortage will continue in some regions […]

Valero sees no restart date yet for Aruba refinery

NEW YORK, Jan 28 (Reuters) – Valero Energy Corp said Monday that some of the units at its fire-stricken refinery in Aruba are on circulation, but there was still no timeline for restarting the refinery, a company spokesman said. “We are not producing anything,” said Bill Day, adding that by keeping some units running it […]

Coal Rises in Asia, Europe as Supply Drops in Australia, China

(Bloomberg) — Coal rose to a record in Asia and also advanced in Europe as floods in Australia and snow storms in China restricted output, spurring generators to secure supply. Anglo American Plc today said operations have resumed at five South African mines shut Jan. 25 because of power shortages. Coal prices at Australia’s Newcastle […]

South Africa mines still starved of power; heavy daily losses

Johannesburg – South Africa’s leading gold, platinum and diamond mines were at a production standstill Monday for the fourth day running after state electricity supplier Eskom last week ordered them to halt mining to save power. After meeting with Eskom to discuss the energy crisis that has plunged homes and businesses across the country into […]

Ecuador wants to end oil negotiations in 45 days

QUITO (Reuters) – Ecuadorean President Rafael Correa said he wants oil firms to strike an agreement with the government to overhaul their contracts in 45 days as the state seeks to increase its control over the key sector. Ecuador started negotiations with five oil firms to switch from contracts that allow companies keep part of […]

Oil peak: A crude ruse?

“We’re running out of oil!” We’ve been hearing this warning at least since the 1970s oil shocks, but recently it has been proclaimed with increasing insistence. The idea goes back to 1956, when Shell geologist M King Hubbert declared that the world had enough oil for only about 50 more years. This thesis, popularly known […]

Iraq’s oil exports via Turkey suspended since Friday, shipping agent says

AMMAN (MarketWatch) — Iraqi crude oil exports from northern Kirkuk oil fields to Turkey’s Ceyhan port have been suspended since Friday, a shipping agent at the terminal said Monday. The agent said Kirkuk crude oil pumping to Ceyhan was suspended at 2000 local time Friday. Iraq only resumed the flow last Wednesday after a two-week […]

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