Europeans Oil Benchmarks Go From Trusted to Tainted

The European Union’s top energy official ignored a warning delivered in 2009 about potential manipulation of Platts oil benchmarks “because markets trusted” them. Andris Piebalgs, who was EU energy commissioner from 2004 to 2010, cited the confidence traders had in the pricing system when a lawmaker questioned the reliability of Platts’ prices more than three […]

Iraq’s Maliki discusses oil project in Russia

Iraqi Prime Minister Nuri al-Maliki held talks in Moscow on Monday with the Russian oil company Lukoil about enacting an existing energy contract and possible participation in future deals, Lukoil said. Lukoil said that Maliki and Iraqi Oil Minister Abdelkarim al-Luaybi met the its chief executive, Vagit Alekperov, to discuss Lukoil’s participation in West Qurna […]

Egypt army gives Mursi 48 hours to share power

Egypt’s armed forces handed Islamist President Mohamed Mursi a virtual ultimatum to share power on Monday, giving feuding politicians 48 hours to compromise or have the army impose its own roadmap for the country. A dramatic military statement broadcast on state television declared the nation was in danger after millions of Egyptians took to the […]

Radiation Levels Skyrocket at Fukushima

The Accident Is NOT Contained Record high levels of radioactive tritium have been observed in the harbor at Fukushima. Japan Times notes: The density of radioactive tritium in samples of seawater from near the Fukushima No. 1 nuclear plant doubled over 10 days to hit a record 1,100 becquerels per liter, possibly indicating contaminated groundwater […]

Protesters to Egypt’s Morsy: You have one day to step down

Egyptians who helped overthrow a 29-year dictatorship in a widely hailed revolution have now given the country’s first democratically elected president one day to step down from office. In a statement posted Monday on its official Facebook page, Tamarod (the “rebel” campaign”) demanded that if President Mohamed Morsy doesn’t leave office by Tuesday, the group […]

How to save the world food chain

Socially responsible investors will want to look at a nascent hive of activity where governments and the private sector are lumbering to save the world food supply threatened by mass crop displacement. The survivability of the tiny, nuisance bee is one key to that monumental task. Bee populations around the world dropped by some 30 […]

India Doubles Price of Natural Gas to Attract Investment

The government of India has approved a doubling of natural gas prices, in a politically-sensitive move that will take effect around the time of next year’s elections. It is hoped that the first rise in the price of gas for three years will increase investment in the sector. The rise will have a knock-on effect […]

Will Morocco Be the Next Hot Spot for Oil and Gas?

Angola has emerged as the new oil and gas powerhouse in Africa. Nigeria and Angola are the continent’s leading oil producers, followed by Algeria, Libya and Egypt. These are the five biggest African oil producers which have been enjoying the benefits of accounting for 85% of Africa’s oil production. Morocco: An Angola in the making? […]

Population drives crop demand

RISING demand for grains and oilseeds, particularly from the Asian region, has set the scene for a bright future for Australian summer grain crops and the growers who produce them.   But it is no reason for complacency and the industry needs to continue on a path of agronomic and technological innovation if it is […]

Ugo Bardi on “Plundering the Planet”, part III

Fracking, tar sand, shale oil: „immense historical error“ / Short term profit interests decide about investments With oil prices rising, „unconventional“ oil and gas resources become attractive for investors: tar sands, shale oil and shale gas, which is extracted by a controversial technology called „fracking“. The exploitation of these sources is an „immense historical error“, […]

Nigeria: Navy – We Can’t Stop Oil Thieves

Nigeria Worse than Somalia on Global Piracy Report The Nigeria Navy, an integral force in federal government’s battle against the increasing cases oil theft, may not be able to contain the scourge, Sunday Trust’s investigations have revealed. Reliable naval sources confided in this publication last week in Port Harcourt that efforts of the Joint Task […]

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