Oil: Price falls as Ivan shuts refineries
Oil prices fell on Wednesday as Hurricane Ivan, one of the strongest storms on record, cut the demand for crude oil by shutting nearly 13 per cent of US refining capacity.
New Forecast Shows Oil Supply-Demand Tipping Point Within A Decade
World oil production will likely not be able to meet global demand as early as the middle of the next decade, according to a new study by Washington-based consultants PFC Energy.
Asia switches slowly to green power
Rising oil prices and pollution are fueling interest in green power in Asia but experts see no prospect of a rapid switch from the region’s growing dependence on oil, coal and gas.
Big Oil hashes out issues with state-run firms
Big Oil met national oil Thursday during an OPEC-sponsored conference of the world’s most powerful companies, from Exxon Mobil and Royal Dutch-Shell to Saudi Aramco and Venezuela’s PDVSA.
GIs claim threat by Army
Soldiers from a Fort Carson combat unit say they have been issued an ultimatum – re-enlist for three more years or be transferred to other units expected to deploy to Iraq.
Putin merges Gazprom and Rosneft
The Kremlin moves swiftly to strengthen its vertical power by giving the green light to a merger between Gazprom and state-owned Rosneft, paving the way for the consolidation of the state’s control over the energy sector.
Saudi Arabia cuts oil sales to U.S., ups China
Saudi Arabia, long the largest supplier of oil to the United States, has cut U.S. sales dramatically and may soon no longer be among the top five largest U.S. suppliers.
Asian oil boom no passing phase
A surge in Chinese and Indian oil demand that has helped push world prices to record highs is no passing phenomenon, analysts say.
Opec to lift production ceiling
Oil producers’ cartel Opec has agreed to raise its production quota by 1 million barrels a day, taking the daily limit to 27 million barrels. But as Opec’s daily output is already running at about 28 million barrels, it is unclear whether the new quota will result in extra production.
Russia warns BP it can revoke oil licences
Russia has warned that production licences of foreign and domestic oil companies can be torn up at will if the nation’s fabulous natural wealth is not exploited on Moscow’s terms.
Depletion – the missing demand element?
Surely it is time that depletion was treated explicitly rather than being buried in the statistics?
Forest Service Halts Yellowstone-Area Oil And Gas Leases
Responding to intense public opposition the U.S. Forest Service has withdrawn plans for imminent oil and gas leasing across a broad swath of scenic national forest lands south of Yellowstone National Park.
