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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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Dum
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July 2004
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Pricing / Supply |
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Business / Policy |
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Alternatives |
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July 25, 2004
Oil
prices rise on terrorism fears
AFP: New York's benchmark contract, light sweet crude for delivery in September, climbed BrentUS$0. 31 to US$41.67 a barrel. Brent North Sea for September advanced US$0.26 to US$38.27... July 22, 2004
Crude
oil futures follow natural gas higher
FT: September Nymex WTI gained $1.07 to an intra-day high of $41.65 a barrel shortly after the weekly inventory showed a small build in natural gas storage as US industry and consumers switch on more air-conditioning units to combat the summer heat... July 17, 2004
A
Closer Look: An insider speaks out
Belfast VS: Simmons, who regards natural gas as the world's single best source of energy, classifies the U.S. natural gas supply as in "serious shape" with declining production throughout the country... July 11, 2004
Oil
prices slip after OPEC soothes market
AFP: World oil prices slipped Friday, dragging New York crude just below US$40 a barrel, as OPEC ministers soothed a nervous market by renewing a vow to boost output... July 10, 2004
No
pleasant surprises in the new oil order
AsiaOnline: ...The kingdom's actions may in fact constitute an implicit fait accompli, an acceptance of their inability to increase production substantially beyond current levels, bringing the days of peak oil production ominously closer... July 9, 2004
Saudi may pump less oil this month
MENFA: An industry report indicated that Saudi Arabia, the world's largest oil exporter, may pump 8.75 million barrels of oil a day this month, 3.8 percent less than planned, because of rising US oil stockpiles, Gulf Times newspaper reported... July 8, 2004
Total
resumes production in Nigeria
AP: Energy giant Total S.A.'s subsidiary said it was pumping oil and gas again Thursday, ending a six-day shutdown over fears that a threatened oil union strike could bring violence... July 8, 2004
Big
deepwater world oil reserves to be found
Reuters: Oil consultants Wood Mackenzie and Fugro Robertson said new finds could swell deepwater reserves by 114 billion barrels from 50 billion now... July 8, 2004
Nine
reasons the peak now looks more imminent
Richard Heinberg: Since the publication of THE PARTY'S OVER we've seen: 1) Sharply declining discovery figures for 2002 and 2003 2) Increasingly pessimistic assessments from ASPO... July 8, 2004
Skids
are greased for oil crisis
Plain Dealer: What Hubbert got right is the human tendency to believe that everything will muddle along approximately as it is, and to assume that short-term fixes will repair all problems, even oil-supply problems... July 5, 2004
China's
proven oil reserves at 6.5 billion tons
AFP: Energy-hungry China had proven oil reserves - crude oil classified as practical to extract - totalling 6.5 billion tons at the end of 2003, the Ministry of Land and Resources said Monday... July 5, 2004
Car-crazy
Asia will keep a gas fill-up at $40
Mercury News: World demand outpaces discoveries... Oil analysts point to the surge in demand from China and the rest of Asia as the largest single factor behind the recent rise in world oil prices. China alone accounts for nearly half the growth in world demand for oil this year... July 4, 2004
Iran Number-Two Position For World Oil Reserves
Tehran Times: Minister of Oil Bijan Namdar Zanganeh said here on Saturday that a new gas field discovered in the southwestern Khuzestan province holds 251 billion cubic meters of gas. Zanganeh told reporters that 176 billion cubic meters of gas could be recovered from this new field... July 4, 2004
Crude
prices fall; pipeline in Iraq `cut'
AFP: Oil prices slipped on Friday as traders locked away profits from a two-day surge, but the market still worried about tight US inventories and a financial crisis at Russian energy giant Yukos... July 2, 2004
Natural-gas
power plant cleaner than coal, but costlier
Denver Post: Calpine Corp.'s $300 million plant in Weld County runs on natural gas - a fuel admired for its cleanliness but reviled for its fast-rising cost... July 1, 2004
Output
levels adequate: Saudis
Reuters: Top world oil exporter Saudi Arabia, which has boosted supply to cool prices, believes the market has now fallen to a fair value and sees no reason to change its production level, Saudi Oil Minister Ali al-Naimi said yesterday... |
July 27, 2004
China, Syrian opens joint oil company
China Economic Net: China and Syrian opened here Monday their first joint oil venture, Sino-Syrian Kawkab Oil Company (SSKOC), to develop an old oil field in the northeast of Syria, nearly 600 km away from Damascu... July 26, 2004
Japan's
Downstream: Restructuring And Global Implications
MEES: Being a net energy importer, Japanese energy companies are predominately buyers on the international energy stage, so the question arises as to what impact their future actions and strategies will have on these markets... July 26, 2004
Australia
might suspend oil talks with East Timor
AFP: East Timor wants the border drawn midway between the two nations, a change East Timor Prime Minister Mari Alkatiri said would be worth three times the oil revenues under current arrangements... July 25, 2004
Kremlin
offered a deal on Yukos by UK consortium
Guardian: Only former Yukos shareholder Konstantin Kagalovsky, who now lives in Britain and is spearheading the effort, has been named publicly. Kagalovsky, an aide to former Russian president Boris Yeltsin, oversaw privatization of Yukos in the mid-1990s and was a senior executive in the company from 2000 to 2002... July 25, 2004
Halliburton's
Q2 loss blamed on Brazil
AP: An unexpected charge on a troublesome project off the coast of Brazil pushed Halliburton Co to a US$663 million second-quarter loss, overshadowing a 38 percent increase in revenues that the oil services company said on Friday was "largely attributable" to its KBR subsidiary's government contracts in the Middle East... July 23, 2004
Yukos
Says Asset Sale Could Prove Fatal Blow
NY Times: Yukos, the Russian oil giant, could be forced to declare bankruptcy within weeks if the government goes through with the seizure and sale of Yukos's most prized oil subsidiary, company officials warned on Thursday... July 23, 2004
Russia
approves Lukoil stake sale
FT: The Russian government on Thursday announced the auction of its $1.7bn stake in Lukoil and separately met executives from ConocoPhillips, which is in talks about expanding its relationship with the Russian oil company... July 20, 2004
Husky's
oil sands project gets nod
The Star: Husky Energy Inc. plans to be the latest large oil producer to delve into the northern Alberta oil sands in a major way after receiving regulatory approval for its planned $500 million Tucker project... July 19, 2004
Kazakhstan,
China Revive Pipeline Deal
MEES: On 17 May 2004 in Beijing, China and Kazakhstan agreed again to build an oil pipeline between the two countries, nearly seven years after China National Petroleum Corporation (CNPC) shocked the industry and the region with its pledge to invest $9.5bn in Kazakhstan... July 19, 2004
Natural
gas crisis looms, study warns
Financial Post: North America is heading toward an inevitable natural gas crisis that will not end until dozens of liquefied gas plants are built, according to a new study by U.S.-based Cambridge Energy Research Associates... July 15, 2004
Editorial:
Watch for China's split with Russia
Paul Lin: There is also another oil-related change: the official Russian announcement that it has reversed course on the construction of the pipeline from Angarsk in Russia to Daqing in China, which Russia originally had agreed to... July 14, 2004
Soaring
Oil Prices, but No New Boom in Houston
NY Times: As soaring energy prices over the last year have produced bonanzas in the world's oil patches, many people in Houston, which has the largest concentration of energy companies anywhere, are perplexed. In a departure from past oil booms, this one is having an unusually subdued effect here... July 14, 2004
Russian
oil company to build pipeline from south Siberia to Pacific
Terra Daily: Transneft is to start construction of a pipeline linking oil fields near the Siberian Lake Baikal to the Pacific coast, officials said Wednesday. The 4,118-kilometer pipeline, which will cost an estimated 15 billion dollars, will begin at Taishet, west of Baikal, and end in a major terminal in Perevoznaya, the pipeline's developers Giprotruboprovod said... July 14, 2004
US
military talks to Nigeria over Gulf of Guinea
ENN: The world's largest energy consumer is keen to protect a series of huge oil discoveries in the gulf, controlled by several politically unstable states including Nigeria, Equatorial Guinea, Sao Tome, and Angola... July 13, 2004
China
steps up power rationing
AFP: Authorities in Shanghai have ordered another 700 enterprises to switch high-voltage consumption operations from day to night in hopes that off-peak usage will ease China's badly strained power grids. The move follows a similar mandate in the city of 17 million people to 500 enterprises that have been operating at night since June 15... July 12, 2004
Taiwanese
company to import oil from Iraq
Khaleej Times: "CPC has reached agreement with SOMO on importing 1.8 million barrels of Iraqi oil between July 1 and December 31, averaging 1,000 barrels a day," CNA said... July 11, 2004
Oil
driving US' move on Sudan
East African Standard: There is a deliberate strategic national interest: access to oil. Since the Clinton administration, the US has been angling to diversify its oil supplies away from the turbulent Middle East region... July 10, 2004
Philippines
asks China to 'desist' from provocative acts in Spratlys
AFP: The statement follows reports China's top oil producer, PetroChina had been allowed to explore for oil and gas in the southern part of the South China Sea, in an area reportedly close to the Spratly islands... July 9, 2004
Oman
signs LNG supply contracts with three Japanese firms
OGJ: Oman's state-owned Qalhat LNG SAOC will supply LNG to the Far East under the terms of contracts announced by three Japanese firms, adding a further boost in revenues for the natural gas-rich Arab country... July 9, 2004
UK
close to losing status as oil exporter
TimesOnline: Britain came within an ace of becoming a net oil importer for the first time in 13 years in May, helping the country's trade deficit widen unexpectedly to ?3.4 billion... July 9, 2004
Power
shortage: 6,400 factories to go off-line
Xinhuanet: There is expected to be a shortfall of 1.2 million kilowatts in Beijing this summer... July 8, 2004
Shell
turns down Iraq oil deal
Reuters: European oil giant Royal Dutch/Shell has turned down the chance to win the first foreign upstream oil production contract in post-war Iraq, saying the terms on offer from Baghdad's new interim government were not good enough... July 8, 2004
Husky
plans to tap gas in White Rose
Financial Post: Husky Energy Inc. said yesterday more than 40 groups have expressed an interest in helping it develop huge natural gas reserves associated with its multi-billion-dollar White Rose oil project in Newfoundland's offshore... July 7, 2004
PetroChina
offshore plan needs more details- analysts
Reuters: PetroChina, which said on Tuesday it had won a licence to search for oil and gas in the southern part of the South China Sea, declined to reveal the exact location of the area, or any other details such as its work schedule... July 6, 2004
Spanish
Seek Oil Off Cuba, as Americans Watch Silently
NY Times: Recent announcements from Repsol YPF, the big Spanish oil and gas company, indicate an ambitious expansion program, with projects planned for countries like Libya and Equatorial Guinea that are not for the risk-averse. But none has attracted as much attention as its gamble on Cuba... July 6, 2004
Oil
discussion at Snohvit
TV Torget: Today, the zone is worth millions, but Statoil has decided to let the oil remain... July 6, 2004
Energy
woes plague Shanghai
NY Times: City inspection teams are visiting factories, identifying the least efficient energy consumers, possibly to be closed down for a time, and thermostats are being raised in public offices. City officials say they are even contemplating shutting down the huge flashing advertising signs that made the Bund... July 6, 2004
Creditor
banks declare oil giant Yukos in default
Reuters: The pressure on Yukos is widely seen as orchestrated by the Kremlin which wanted to snuff out the political ambitions of key shareholder Mikhail Khodorkovsky who is on trial for fraud and tax evasion... July 2004
Why
your electricity bills are soaring
Forbes: After steady rises through the 1970s and mid-1980s, real electricity prices -- prices that do not include the effects of inflation -- are now in a state of decline... July 5, 2004
Novis
Scocia offshore energy suffers setback
Globe and Mail: Nova Scotia's sluggish offshore energy sector has suffered another setback as several major energy companies have opted out of plans to spend up to $275-million on exploration. Companies that included ExxonMobil, Shell and Kerr McGee allowed a dozen offshore exploration licences to expire last week... July 5, 2004
Time
to kick the oil habit
Paul Roberts: Since 1980, U.S. oil policy has centered almost entirely on enlarging our supply of oil -- either by drilling more oil wells at home or by cozying up to foreign producers such as Nigeria or Saudi Arabia. But as a means to energy security, this plan is dangerously obsolete... July 4, 2004
Shell
says bad accounting led to US$432 million error
AP: The Royal/Dutch Shell Group said the overestatement of its proven oil and gas reserves and "inappropriate" accounting in other business segments resulted in profits being exaggerated by US$432 million... July 4, 2004
Aviation
growth 'risk to planet'
BBC: The University of York report says government plans for airport expansion are in direct conflict with targets to reduce greenhouse gases. Report authors Professor John Whitelegg and Howard Cambridge say polluting gases from aircraft exhaust fumes are on the increase... |
July 25, 2004
Catching
Up to the Cost of Global Warming
NY Times: Regulations related to fuel economy and global warming are "going to be one of the key drivers that determines competitiveness in the industry over the next decade and beyond,'' said Duncan Austin, who until recently was a senior economist at the World Resources Institute... July 14, 2004
Holden
to go 'hybrid'
The Age: Australia's top-selling car may soon be available with an electric motor. Holden is considering selling petrol-electric versions of its Commodore in a few years as part of an environmental push designed to broaden the appeal of the brand... July 11, 2004
The
Sooner We Get Serious, the Better
American Solar Energy Society Conference: At some point in the very near future, solar cells are poised to become a classic disruptive technology. As prices fall with economies of mass production, demand will skyrocket around the world... July 8, 2004
Threat
to wildlife becalms County wind power plan
Bangor News: Like hydroelectric dams, wind turbines are a mixed bag ecologically, and nearly every project divides environmentalists, sparking arguments over whether turbines' ability to provide cleaner air and slow global warming can outweigh the local harm to wild creatures... July 8, 2004
Ballard
Power sells vehicle fuel cell division to DaimlerChrysler, Ford
CBC News: Ballard said DaimlerChrylser and Ford will buy its 50.1 per cent stake in Germany's Ballard AG, formerly called Xcellis. The two big automakers will be responsible for research, development and manufacturing of the fuel cells... |
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Energy Overworld
Copyright 2003-2004, Energy Overworld
energyoverworld@lycos.com
