Brazil

Brazilian oil company Petrobas has acquired a 50 perc ent interest in an offshore oil exploration and production block off the coast o f Namibia for US$16 million from UK firm Chariot Oil and Gas Limited, raising the tempo in oil search off the coast of Namibia. The Brazilian state-owned oil company said Tuesday that […]

Energy, carbon taxes and the winds of change (Jeff Rubin)

…Commercial air travel, like many other industries, is lubricated by cheap oil. Mr. Rubin, the former chief economist of CIBC World Markets, has now bet his career on a single idea At $150 or $200 oil, the same shift happens in other manufacturing sectors, Mr. Rubin says. That’s especially true if the United States, under […]

Total Studies Gulf Refinery Delay to Limit Costs as Prices Fall

(Bloomberg) — Total SA, the French oil company planning a refinery on the Persian Gulf with Saudi Aramco, is prepared to push the project back further to force contractors to cut bids as fuel demand and prices fall. Total, Europe

Saudi holds 1.5m bbls of gasoline at sea: Report

DUBAI: Saudi Arabia, the world’s top oil exporter, is holding up to 1.5 million barrels of gasoline on ships just off the Red Sea Coast port of Jeddah, industry sources said yesterday. The ships have been waiting to discharge for more than two days but, because of brimming inventories on land, they have not been […]

Two firms apply for exploration rights in Iceland

Iceland has received two applications in its first tender offering exploration rights off its potentially resource-rich northeast Atlantic coastline, an Icelandic newspaper reported on Monday. Iceland’s Ministry of Industry received applications from Norwegian oil group Aker Exploration and Sagex Petroleum, in conjunction with Lindir Petroleum, Icelandic daily Morgunbladid reported on its website.Reuters

Countries rated on oil security

Canada is the world’s most energy-secure nation, and Indonesia is at the bottom of a new Energy Security Index compiled by Energy Security News and The Washington Times. The study ranks the top oil-producing nations on their ability to export petroleum products safely to the rest of the world. It bases its assessment on each […]

US crude oil and liquid fuels- EIA Outlook

The United States Energy Information Administration said that SteelGuru

Shell planning for long downturn

Royal Dutch Shell is assuming the economic downturn could last several years when assessing the outlook for oil prices and planning investment. Chief executive Jeroen van der Veer also said on Tuesday that this year the company was focussing on growing its dividend and planned to keep investments at a relatively high level.Reuters

Maine task force to identify offshore wind energy sites

…Maine’s test sites may also attract a company with big ambitions for offshore wind, StatoilHydro, a Norwegian oil and gas firm that’s expanding into worldwide energy ventures. Next month, the company plans to install a $62 million structure off Stavanger, Norway, for what it says is the world’s first full-scale floating wind turbine. Called Hywind, […]

Future of Biofuels Expected to Remain Bright

Less than 5 percent of world cereal production will go to biofuels this season, according to the Food and Agriculture Organization of the United Nations. But that share is expected to rise steadily, at least until technology to process alternative raw materials is deployed on a global scale, a distant prospect. Rising biofuel use, together […]

Pentagon says cutting energy use is big priority

The U.S. Defense Department, the nation’s single largest consumer of energy, is putting increased focus on cutting its energy consumption and ensuring that future weapons are more energy efficient, the Pentagon’s new chief weapons buyer said on Monday. Reducing energy consumption is a big priority for the Obama administration, which has vowed to fight climate […]

China's edge in the energy-efficiency industry

China has overtaken the U.S. as the top greenhouse gas emitter, the fallout of breakneck development and its role as workshop for the West’s cut-rate goods. Deforestation, overgrazing and poor water management are expanding its deserts; many of its rivers are flush with toxins. To environmentalists, China’s crimes against nature threaten the planet. Yet even […]

A coming world that's 'a whole lot smaller'

Jeff Rubin has taken his long-standing forecast that inevitably declining production and rising demand will send oil prices inexorably higher – over $200 (U.S.) a barrel by 2012 or earlier, just for a start – and imagines how the world will have to change to adjust to such a reality. “This book [Why Your World […]

Peru Oil Pipeline Halted On Protests In Amazon

Protesters in the Amazon basin have forced Peru’s state energy company to shut its crude oil pipeline, a company official said on Monday as the government tries to end weeks of demonstrations over natural resources. Indigenous communities have blocked roads and waterways to pressure the government to revoke investment laws Peru passed under a free-trade […]

THE KREMLIN TAKES AIM AT MONGOLIA'S URANIUM RESERVES

For centuries, Mongolia was an object of geopolitical interest, widely seen as a buffer between two rival empires. But these days — given the recent discoveries of strategically important raw materials like uranium — the country is assuming a greater level of global economic importance. At the same time, the global drop in commodity prices […]

Peak Oil Review – May 18

1. Production and Prices 2. Nigeria 3. IEA lowers demand 4. A changing LNG story 5. Briefs 1. Production and Prices After rising by $10 a barrel since mid-April, oil prices continued to increase early last week, and at one point touched a six-month high of $60. Just as the equity markets remain largely detached […]

GM bankruptcy seen as all but inevitable

DETROIT (Reuters) – After 100 years in business and 10 months of frenzied but failed restructuring, General Motors Corp is weeks from the bankruptcy filing experts say will be required to complete the Obama administration’s bid to reshape a fallen icon of American industry. But with the clock ticking, experts see it as all but […]

Company Finds Faster, Cheaper Way to Make Ethanol

Scientists at the Mascoma Corporation Unmodified, the bacterium efficiently degrades cellulose to produce a mixture of ethanol and other organic waste products. Scientists at Mascoma have genetically altered the bacteria to produce predominantly ethanol, significantly reducing unwanted waste products and increasing the amount of ethanol that can be produced, Flatt said. The genetically modified bacteria […]

Back to the 'Old Normal' of Domesticity

This year I decided to learn how to garden. My resolve wasn’t just a notion for a new pastime or a move toward hip liberalism. Rather, it was my response to global warming and in particular, the depletion of fossil fuels, which has a direct effect on our food system. The crops we grow and […]

Oil jumps 4.8% on supply concerns

A pipeline bombing in Nigeria and a U.S. refinery fire send oil prices up as peak driving season approaches. NEW YORK (CNNMoney.com) — Oil prices rose almost 5% Monday after a fire at a major American refinery and violence in Nigeria renewed supply concerns going into the summer driving season. Light, sweet crude for June […]

Two groups oppose increasing U.S. ethanol blend rate

WASHINGTON (Reuters) – Blending more than 10 percent ethanol into U.S. gasoline will result in more air pollution and more damage to engines, said an environmental group and a boating industry trade group on Monday. The Environmental Working Group (EWG) and the National Marine Manufacturers Association (NMMA) said evidence weighed against allowing a blend of […]

Obama to unveil most aggressive auto fuel standards

WASHINGTON (Reuters) – President Barack Obama on Tuesday will propose the most aggressive increase in U.S. auto fuel efficiency ever in a policy initiative that would also directly regulate emissions for the first time and resolve a dispute with California over cleaner cars. A senior administration official, speaking to reporters late on Monday on the […]

Tumbling prices push 2 U.S. energy firms into Chapter 11

NEW YORK (Reuters) – Tumbling energy prices over the past year and a lack of credit pushed two U.S. energy companies into Chapter 11 bankruptcy, the latest in a string of such filings. Pacific Ethanol Inc, the largest West Coast-based producer and marketer of ethanol, put its production plants in California, Oregon and Idaho in […]

Russia Sees Gloom Despite Rise in Oil

Gloomy news about Russia’s economy — figures on Monday showed April industrial production plunged 17% year-on-year — has been mixed with some rare positives in recent weeks. Oil prices are surging, the ruble is up and Russian stocks have taken off. But even the good news has economists worried. “Oil prices now are as awful […]

China plans to build petrol reserves

China said on Monday that it would start building state reserves of refined oil products such as petrol and diesel, to diversify strategic stockpiles away from unrefined crude oil in a move that mirrors EuropeFT

Iran says ready to face any U.S. gasoline sanctions

Iran has plans in place to deal quickly with the consequences of a proposed U.S. law that would penalise companies supplying the country with gasoline, its oil minister was quoted as saying on Monday. The U.S. Congress is considering legislation to impose sanctions on companies that sell, ship, finance or insure gasoline exports to Iran. […]

IHS study sees oil sands move from the "fringe to center" of energy su

Technological advance in the Canadian oil sands has made Canada the world’s second largest holder of recoverable oil reserves, after Saudi Arabia, and “an increasingly important part of the fabric of hemispheric and global energy security”, according to a new major study, Growth in the Canadian Oil Sands: Finding a New Balance by IHS Cambridge […]

The coldest war: Russia and U.S. face off over Arctic resources

As the oil wells run dry, the planet’s last great energy reserves lie miles beneath the North Pole. And as the U.S. and Russia race to grab them at any cost, the stage is set for a devastating new cold war The year is 2020, and, from the Middle East to Nigeria, the world is […]

Smart Grid Progress: DOE Announces First Standards

As weReuters

Powering America

Powering AmericaThis new volume builds on that finding by considering: the security risks inherent in our current energy posture; energy choices the nation can make to enhance our national security; the impact of climate change on our energy choices and our national security; and the role the Department of Defense can play in the nation

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