Iraq addressing oil infrastructure shortfalls

Iraq needs foreign companies to invest in drilling more oil wells as it does not have the capacity on its own to more than double national output of 2.3-2.4 million barrels per day of crude, the oil minister said. Oil Minister Hussain al-Shahristani said Iraq has 70 new oil wells ready to start pumping crude […]

Oil production puts Russia on collision course

OPEC is squaring up for a spat with Moscow as it becomes increasingly frustrated with Russia’s reluctance to curb oil output as agreed with the international cartel. Oil prices continued to hover around the $50-a-barrel mark despite a statement from the International Energy Authority (IEA) that demand would fall more than expected. However, OPEC is […]

Cash-rich China courts the Caspian

The global downturn is spreading to Central Asia. It may lead to a marked shift of fortune in the Great Game for control of Caspian energy reserves. On the surface, the intensity of the rivalries may appear to have subsided, as the principal protagonists – Russia and the West – brood over the precarious state […]

Asia may see more conflicts over water: report

NEW YORK (Reuters) – Asia may see more conflicts over scarce water resources in the coming years as climate change and population growth threaten access to the most basic natural resource, a report warned on Friday. Water problems in Asia are already severe, with one in five people, or 700 million, not having access to […]

Economist/activist says world on cusp of third industrial revolution

Mankind is facing He referenced a number of problems he said could be linked to global warming including increased hurricane intensity, drought and extinction of various species, which could grow worse if global warming continues. He said one moderate prediction is that the earth

World's largest nuke plant to restart in Japan

KASHIWAZAKI, Japan (AFP) National, regional and local authorities have in recent weeks approved the resumption of the 8,200-megawatt Kashiwazaki-Kariwa plant which sprawls across more than four square kilometres (1.6 square miles). All that’s needed now is the formal green light when all three authorities meet again, possibly as early as this month, say officials. But […]

Matt Simmons: Energy Planning

Matt Simmons explains why planning in the oil & gas industry has been, and continues to be, particularly difficult. World Energy Television (video)

May day launch for Tupi oil

Brazilian state-run Petrobras is on target to pump the first oil from the Tupi on 1 May, company boss Jose Sergio Gabrielli said. Brazilian President Luiz Inacio Lula da Silva plans to commemorate the event, but had indicated in March that the long-term test could possibly be delayed. Gabrielli, however, told Dow Jones that the […]

Cheap Gas? Try $1 a Tank

Last month, I paid a brief visit to Venezuela. Aside from the glorious, 80-degree weather, the most astonishing thing about the country is the rock-bottom price of gas. It cost $1 Venezuela has long been among countries with the cheapest gas on the planet. It is an oil producer, and like other countries with similar […]

Fort Collins Clean Energy Conference hosts RFK Jr.

…Anita Burke of the Catalyst Institute was the first speaker of the evening. Burke, a physicist and eighteen year veteran of Shell International, opened by offering that she had worked in the Judy Dorsey of the Northern Colorado Clean Energy Cluster spoke next, providing the audience with an overview and update on the Fort ZED […]

BP Trims Oil Refinery Runs as Profit Margins Fall

(Bloomberg) — BP Plc, Europe Refining margins will remain

Obama: Better trains foster energy independence

President Barack Obama called Thursday for the country to move swiftly to a system of high-speed rail travel, saying it will relieve congestion, help clean the air and save on energy. Appearing with Vice President Joe Biden and Transportation Secretary Ray LaHood, Obama said the country cannot afford not to invest in a major upgrade […]

The Peak Oil Crisis: Sustainability

It does not take much thinking about the implications of peak oil before the concept of sustainability arises. For many centuries now mankind has been using the earth’s resources – trees, fertile soils, wildlife, and fossil fuels – at a prodigious rate and they are just about gone. Some of these resources such as trees, […]

OPEC set to miss output-reduction target

OPEC will cut crude-oil shipments by 2.5 percent in the four weeks ending May 2, putting the group short of its reduction target, according to Oil Movements. The Organization of Petroleum Exporting Countries, producer of about 40 percent of the world OPEC has completed 80 percent of the 4.2 million barrels of daily production cuts […]

Contractors tighten belts for Saudi refinery bids

DUBAI (Reuters) – Contractors will have made aggressive cuts to cost estimates in bids due later this month to build a new refinery for Saudi Aramco and Total (TOTF.PA), sources at contracting companies said on Thursday. Oil’s slump to around $50 a barrel from a peak over $147 last year has forced cost cutting across […]

Further Evidence of the Influence of Energy on the U.S. Economy

Gail, Jeff Rubin , and now James Hamilton of the University of California In his recent report, James Hamilton states that:

Singapore researchers first to transform carbon dioxide into methanol

Scientists at Singapore’s Institute of Bioengineering and Nanotechnology (IBN) have succeeded in unlocking the potential of carbon dioxide Organocatalysts are catalysts that are comprised of non-metallic elements found in organic compounds. NHCs such as IMes (1,3-bis-(2,4,6 trimethylphenyl)imidazolylidene) are a form of organocatalysts that are stable and easily stored. They do not contain toxic heavy metals […]

Price gap threatens Chicago Board of Trade's wheat futures market

CHAMPAIGN, Ill. Left unchecked, the disparity could seriously undermine the CBOT

Can oil from tar sands be cleaned up?

IN THE Canadian province of Alberta the ground is skinned and gutted. Rising oil prices and dwindling reserves have pushed oil companies to exploit what was once considered unexploitable: tar sands, the dirtiest oil on Earth and the most expensive to extract. This strip-mined landscape is bad enough, but another method of extracting the oil […]

Future-proof homes for a warmer world

Global warming will change how we live. Models forecast that tropical storms are likely to become stronger and more frequent, drought will bring more forest fires, and shrinking ice caps will raise sea levels worldwide. Some architects are now preparing for these challenges by attempting to design “future-proof” homes. See a gallery of some future-proof […]

London

(Bloomberg) — National Grid Plc is investigating piping greenhouse gases released by power plants and refineries near London to undersea storage sites so they won The U.S. and Europe together have earmarked as much as $14 billion in aid to develop technology to trap and bury the waste gas for eons… Bloomberg

Brazil Petrobras CEO: No Estimates Yet For Latest Oil Finds

It’s still too early to make estimates on the size of the latest offshore oil discoveries made by Brazilian oil giant Petrobras, the company’s CEO said Thursday. Petrobras announced Tuesday it had discovered traces of oil at the Iguacu prospect, the third successful wildcat well in the Santos Basin’s BM-S-9 block. Petrobras is lead operator […]

Iraq to build major new oil refinery

Iraq has signed a contract with British engineering and construction company Foster Wheeler to build the country’s largest-ever oil refinery, an Iraqi official said on Wednesday. Abdulhassan al-Attabi, the oil ministry representative in the negotiations, said the 128-million-dollar plant will be built near the city of Nasiriyah in southern Iraq. “This refinery will be the […]

Plan to boost electric car sales

Motorists will be offered subsidies of up to BBC

Summer Gas Prices Forecast to Peak at $2.30 a Gallon

The Energy Information Administration, the statistical branch of the Energy Department, has some good news for motorists: gasoline prices are expected to peak at only $2.30 this summer. The EIA said prices would average $2.23 a gallon during the summer, with a peak of $2.30 late into the season. That’s about 20 cents more than […]

Total, the

Total, the French oil company, has not shied away from the controversial topic of how much more oil can be extracted from the worldFT Blog

Norway March oil output falls to 2.15 mln bpd

Norway’s oil production fell to a preliminary 2.15 million barrels per day on average in March from nearly 2.17 million in February, the Norwegian Petroleum Directorate said on Thursday. Production of natural gas liquids (NGL) and condensate fell to a preliminary 348,000 barrels per day in March from 399,000 in February, the directorate said in […]

Why Prices Will Keep Falling

the world has faced all these issues before, and for the past 200 years, commodity prices have been trending downwards, thanks to new technologies, greater efficiency in extraction and the substitution of one commodity for another (which explains the high correlation between commodities prices). Bank Credit Analyst, a research firm based in Montreal, has data […]

Frontline Sees

A plunge in supertanker rates to their lowest in at least 11 years will likely spur owners to scrap ships and cancel orders for new ones, according to Frontline Ltd., the worldBloomberg

Petro-Canada to lay off 200 workers in oil sands

Petro-Canada is laying off about 200 people in its oil sands division as its Fort Hills mining development continues to slow. While Fort Hills is the impetus, the staff cuts Canada.com

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