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Tracking the Energy Industry |
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Spiro, Spero
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Tracking the Energy Industry |
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June 2004
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Pricing / Supply |
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Business / Policy |
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Alternatives |
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June 30, 2004
Al-Naimi sees kingdom's continued role as key supplier of last resort
OGJ: Saudi Arabia is intent on reaffirming its role as the world's linchpin oil supplier for as long as that hydrocarbon can be economically produced. And the kingdom sees that day extending decades beyond that claimed by advocates of the view that the world faces an imminent peak and steep decline in oil production... June 24, 2004
Oil
prices retreat; Oslo intervenes in Norwegian strike
AFP: Oil prices retreated Friday as the Norwegian government stepped in to resolve a strike that has hit output from the world's third-largest exporter... June 25, 2004
The
Crude Awakening
FinancialSense: One of the biggest bottlenecks - one that can't be overcome quickly or easily - in the industry, is the lack of refining capacity in Canada and the United States... June 24, 2004
Oil
exploration of Great Barrier Reef pushed by Australia
Reuters: Australia has increased tax concessions to encourage oil exploration in the far reaches of the Great Barrier Reef, angering environmentalists who warn an oil spill could destroy the world's largest living reef system... June 23, 2004
U.S.
crude supplies near 2-year high
MarketWatch: Earlier, the Energy Department reported a 2.5 million-barrel climb in crude inventories for the week ended June 18. Total stocks stand at 305.4 million, or 7.8 percent above the year-ago level, the data showed... June 23, 2004
SEC
leans to voluntary code on oil reserves
FT: US regulators have for now ruled out changing their controversial rules on oil industry reserves amid fall-out from the Shell scandal and would prefer companies voluntarily to reveal more details... June 21, 2004
Peak
Oil Revisited - The Bill Collector Calls
FTW: For almost the entire year between the Paris and Berlin conferences the icons of the mainstream press - the ones known and employed to mold public and business perception - had been acknowledging Peak Oil's reality... CNN, the BBC, the New York Times, the Economist... June 21, 2004
Oil
Prices Are Spiking: Has Supply Hit Its Peak?
Fortune: In 1956 a grouchy, iconoclastic Shell Oil geologist named M. King Hubbert forecast that U.S. oil production would peak by the early 1970s. The general reaction to his prediction was disbelief and ridicule, until, that is, the early 1970s, when he turned out to be right... June 21, 2004
Oil-workers'
strike slashes Norway's output 10 percent
Bloomberg: A Norwegian oil-workers' strike that's cutting daily output from the world's third-largest oil exporter by more than 300,000 barrels entered its third day yesterday with little chance of a resolution, the nation's oil industry association said... June 20, 2004
Oil
prices rise again on security fears
AFP: New York's main oil contract rose Friday as nerves tightened over bloody insurgent attacks in Iraq and the beheading of a kidnapped American worker in Saudi Arabia... June 20, 2004
Would
More Drilling in America Make a Difference?
NY Times: The United States sits atop just 3 percent of the world's proven oil reserves, but burns one quarter of global production. Sixty percent of what it uses daily is imported... June 18, 2004
Some
Issues in Forecasting Natural Gas Prices
Lukens: when market uncertainty is a concern for the producers, the production allocation is such that the current price will be higher and future prices will be lower. We also found that major price variations in the last thirteen years have been caused by weather conditions and therefore cannot be cyclical... June 15, 2004
Asian
growth straining oil supplies, experts caution
AFP: Asia must speed up its economic liberalization to woo energy investment and ensure sufficient and affordable long-term supplies in a turbulent world market, oil experts said at a key regional conference here yesterday... June 13, 2004
Oil
prices fall as Nigerian general strike suspended
Reuters: Oil prices eased yesterday as Nigerian unions called off a general strike without disruption to supplies from Africa's biggest oil exporter... June 6, 2004
After
the Oil Runs Out
Washington Post: For every 10 barrels of conventional oil consumed, only four new barrels are discovered... June 6, 2004
Oil
prices lose nearly 10 percent since recent high
Reuters: Oil prices dropped nearly 10 percent from recent record highs on Friday as rising stockpiles in the US and the promise of more OPEC barrels soothed worries of a summer supply crunch... June
4, 2004
OPEC agrees to boost production by 2 million bpd Reuters: OPEC yesterday agreed to raise output by 2 million barrels a day (bpd), or 8 percent, in a bid to ease oil prices from US$40 a barrel, Qatari Oil Minister Abdullah al-Attiyah said... June 3, 2004
Oil prices hit fresh record highs Reuters & AFP: Fears that militant attacks will destabilize Saudi Arabia drove crude prices to record highs yesterday in their biggest jump in more than a year, shoving Asian stock markets lower... June 2, 2004
Oil rises further on terror fears
AP: World oil prices rose in Asian trading yesterday on fears of possible supply disruption following the weekend's terrorist attacks in oil kingpin Saudi Arabia, dealers said... |
June 29, 2004
$2bn
already invested in Baku-Tbilisi-Ceyhan oil pipeline
Russia Journal: Some $2bn have been spent on the project of constructing the Baku-Tbilisi-Ceyhan oil pipeline, the Trend news agency reported citing Nagit Aliyev, the President of the Azerbaijani State Oil Company (GNKAR)... June 29, 2004
A
balancing act over Alaskan crude oil
Roanoke Times: The Bush administration wants to write a new plan for the 4.6 million-acre northeast corner. Federal land managers are considering opening 387,000 acres previously closed to drillers, an area about half the size of Rhode Island... June 29, 2004
Snow: Resources should be developed AP: Alaska has the potential to play a vital role in energy production for the United States by developing its resources and bringing them to market, the U.S. treasury secretary said Monday... June 29, 2004
Iraq's
oil money not accounted for
Guardian: A Christian charity has accused the coalition authority in Iraq of failing to account for up to US$20 billion of oil revenues which should have been spent on relief and reconstruction projects... June 28, 2004
The
undeclared oil war
Washington Post: For months China and Japan have been locked in a diplomatic battle over access to the big oil fields in Siberia... June 28, 2004
Libya's
Black Gold Rush
Fortune: Squinting against the harsh Libyan sun, the American oilmen emerge from a line of idling black Mercedes sedans and make their way into a low-slung building near Tripoli's sleepy international airport... June 27, 2004
Former
chairman of Royal/Dutch Shell gets giant payout
NY Times: The Royal Dutch/Shell Group's former chairman, Sir Philip Watts, received a severance package worth Euro 1.06 million (US$1.93 million), the amount he would have earned had he stayed on until retirement, the company said on Friday... June 25, 2004
Thailand's
oil plans: A lot more refining to do
Straits Times: The Kingdom, which has seven refineries that together process 975,500 barrels per day (bpd), announced last week plans for its eighth and largest plant with a 300,000 bpd capacity. The reason: Singapore processes 1.3 million bpd... June 24, 2004
Beware
the petrodragon's roar
Asia Times: When OPEC met earlier in the year it had no intention of raising output, but its hand was in effect forced on the back of Chinese demand, which accounts for nearly half of this year's surge in demand, and US concerns over rising gasoline prices... June 24, 2004
Trade
talks center on energy sector
Houstan Chronicle: Many Mexicans believe the country's petroleum and natural gas resources should remain largely off-limits to foreign companies... June 23, 2004
Energy
concerns focus of ministerial meeting
AP: Alarmed at soaring oil prices, a conference of 22 Asian foreign ministers were preparing yesterday to issue a call for closer regional cooperation in developing alternative fuels and renewable energy sources... June 22, 2004
UN auditors attack US occupiers over spending of Iraq's oil revenues
FT: United Nations-mandated auditors have sharply criticised the US occupation authority for the way it spends Iraqi oil revenues and say they have faced "resistance" to performing their job by coalition officials... June 22, 2004
Oil
giant Yukos in talks with Moscow to settle tax bill
AFP: The giant Russian oil company Yukos is discussing the settlement of a multi-billion-dollar tax claim against it with the tax ministry, the Interfax news agency quoted a top minister as saying yesterday... June 22, 2004
Atomic
energy facilities may turn into joint stock companies
ITAR-Tass: Head of the Russian Federal Atomic Energy Agency Alexander Rumyantsev confirmed the possibility to transform atomic energy facilities into joint stock companies... June 21, 2004
World
Bank rebuked for fossil fuel strategy
Guardian: The World Bank's drive to promote fossil fuel-generated power for 1.6 billion people lacking electricity will drive developing countries deeper into debt, a report by a development thinktank claims today... June 21, 2004
Heat,
equipment woes delay Iraqi repairs
NY Times: The gash in a critical pipeline that saboteurs struck four days ago remained submerged in a vast lake of crude oil on Saturday, defying attempts at repairs that would get the oil moving again to tankers in the Persian Gulf... June 20, 2004
Halliburton
sacks KBR chairman as probe continues
AFP: Oil services giant Halliburton said Friday it sacked a consultant and former chairman of one of its subsidiaries after a probe into a Nigeria project revealed he got "improper personal benefits." June 17, 2004
Oil
chief: my fears for planet
Guardian: Ron Oxburgh, chairman of Shell, says we urgently need to capture emissions of the greenhouse gas carbon dioxide, which scientists think contribute to global warming, and store them underground - a technique called carbon sequestration... June 10, 2004
Asian
nations seek way to reduce risk of higher oil prices
AP: Asian officials concerned that they pay too much for oil from the volatile Middle East sought ways yesterday to cushion the blow of price shocks, saying contingency plans such as fuel stockpiles could increase their energy security... June 10, 2004
General
strike over higher fuel prices shuts Nigeria down
AP: Many banks, schools and stores shuttered their doors yesterday in Nigerian cities where guilds representing millions of workers embarked on a general strike to protest fuel price increases... June 9, 2004
Exxon
chief dispels myth of energy independence in US
AP: The idea of American energy independence is a myth and the US must maintain "constructive relationships" with oil-producing countries for its own prosperity, the head of petroleum giant Exxon Mobil Corp said... June 8, 2004
Shanghai
cautious of power shortages
AP: City officials are encouraging factories to cutback on production during peak electricity-demand hours and offices and shops to reduce air-conditioning... June 7, 2004
Shadow
of terror falls over oil industry
Guardian: When Fadel Gheit first warned of his "nightmare scenario" that Saudi Arabia's main oil export terminal at Ras Tanura could be wiped out by terrorists, he was dismissed as an alarmist... June 7, 2004
West
looks to Russia for oil
Observer: Could Russian President Vladimir Putin bail us out? He might take some grim satisfaction from the mounting oil crisis. High prices have underpinned Russia's booming economy in recent years: oil and gas represented 25 percent of the economy last year. The last thing the Kremlin wants is cheap fuel... June 3, 2004
Threat
to Asia highlighted
Agencies: Soaring oil prices pose a bigger threat to Asia than a slowdown in China, potentially upsetting the current economy recovery, a Citigroup report said yesterday... June 2, 2004
Boom
or bust in the Persian Gulf?
Global Insight: Despite all the political turmoil and regional insecurity, the Persian Gulf region is also enjoying an unprecedented economic boom... |
June 29, 2004
Palm
Beach conference focuses on using ocean to generate energy
Sun Sentinel: Wind farms sprouting from the ocean. Generators turned by the unceasing energy of the waves and tides. Turbines that can harness the relentless churn of the Gulf Stream, coursing northward just off shore from Palm Beach County... June 27, 2004
Inventors
harness energy in the babbling brooks of Europe
DPA: The two garage-shop inventors tinkered for years and received EU assistance to develop the Setur turbine -- a small machine that converts the energy flowing down babbling brooks, creeks and streams into electricity... June 24, 2004
Hybrid's
software, batteries creating repair difficulties
AP: With Ford Motor Co's Escape hybrid sport utility vehicle due out this summer, the automaker is training thousands of mechanics at dealerships around the country how to service them... June 23, 2004
Hydrogen
Cars Ready to Roll... For a Price
MSNBC: If you can't wait five, 10 or 20 years for the much-touted "hydrogen economy," then step right up: Several companies are ready to sell you vehicles that run on the fuel that's much cleaner and gets higher mileage than gasoline or diesel... June 21, 2004
Cars
are more fuel-efficient than trains, claims study
Telegraph: Challenging assumptions about railways' green superiority, the study finds that the weight and fuel requirements of trains have increased to the point where rail could become the least energy-efficient form of transport. Engineers at Lancaster University said trains had failed to keep up with the motor and aviation industries in reducing fuel needs... June 21, 2004
Fossil
fuel subsidies 'must end'
NY Times: The report says a single year's worth of World Bank spending on fossil fuel projects could be spent instead on small-scale solar installations in sub-Saharan Africa, providing electricity for 10 million people... June 21, 2004
Alternative-Energy
Quest Is Blocked by a 1953 Law
NY Times: The town decided to use wind energy for its 328 street lamps, two public baseball parks and all the rest of its municipal needs, even though it was slightly more expensive than conventional sources. In doing so, however, it ran up against a 51-year-old state law that requires cities to use the least expensive source for a commodity... June 19, 2004
Consumer
Cost of Hydrogen
EV World: Hydrogen will cost less than gasoline someday. No, it will always be too expensive when compared to biofuels and other alternatives like battery electric cars. These are the arguments... June 18, 2004
Facing
the Limits to Growth
AlterNet: Like the other great revolutions, the coming sustainability revolution will also change the face of the land and the foundations of human identities, institutions, and cultures. Like the previous revolutions, it will take centuries to unfold fully -- though it is already under way... June 15, 2004
Hybrid
Vehicles Hit the Heartland... Barely
NY Times: Hybrids may be hot commodities on both coasts and in large urban areas, where buyers can wait six months or more to claim them, but there is a debate in the industry about how far the technology can go in the heartland... June 15, 2004
From
Guilt Trip to Hot Wheels
NY Times: Dispassionate analysts suspect that the 2004 Prius could keep its must-have luster longer than usual and be the vehicle that takes hybrid technology mainstream. Brian Moody, the road test editor for Edmunds.com, a car buyers' Web site, is one of several experts to guess that thanks to the new Prius, within five years virtually every car model made will have a hybrid version... June 9, 2004
Cars
going vegetarian as oil price soars
AP: Environmentalists with diesel cars have used vegetable oil for years as an alternative fuel to cut back on sooty emissions, but as gas prices soar above US$0.526 a liter, they say their "veggie cars" are a great way to save cash... June 3, 2004
Toyota
making more hybrids as gasoline costs rise
Bloomberg: Toyota Motor Corp boosted production of the Prius gasoline-electric car by a third in April, taking advantage of surging oil prices that boosted demand for fuel-efficient vehicles... |
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Energy Overworld
Copyright 2003-2004, Energy Overworld
energyoverworld@lycos.com
