The Axis of Oil
China and India are locked in an increasingly aggressive wrangle with the United States over the world’s most critical economic commodity: oil.
Fossil Fuels
NZ: Mangatoa could bring in billions
Explorer New Zealand Oil and Gas and Origin Energy, Contact Energy’s parent, may be sitting on a gas prospect three-quarters the size of Maui, potentially worth billions of dollars.
Seeking Iraq’s oil prize
The Iraqi government that emerges from Sunday’s election may open its oil business to foreign investment, and international petroleum companies are jockeying to curry favor with the war-torn country.
It’s Not All Blue Skies for Drilling Project
Expansion of gas wells in Rocky Mountain states will degrade the air at several national parks.
Energy-hungry nation looks to LNG
…as growing demand for natural gas outstrips North America’s conventional supplies, many experts view imports of LNG as the only way to head off decades of soaring prices for businesses and the tens of millions of households that rely on the fuel for heat and electricity.
Deepwater exploration binge off South Africa
Includes report of planned & recent deepwater oil exploration off the coast of South Africa, and some pleasantly frank comments from the head of the SA Petroleum Agency.
Transatlantic alliance to secure fuel supplies
Oil consumers on both sides of the Atlantic on Thursday outlined plans to secure energy supplies and reduce consumption amid growing concern over rising oil prices, potential terrorist threats and surging demand from avoracious China.
Chinese VP in Caracas to sign deals
Venezuela has hailed the visit of Chinese Vice President Zeng Qinghong as a productive trip that will yield several multi-billion trade deals, mainly in the oil and gas sectors.
Japan vows to protect gas field from China
Japan says it will protect its offshore energy resources after its navy spotted two Chinese destroyers near a disputed gas field in the East China Sea.
Cherished oil myths: OPEC overcapacity
The myth or belief in OPEC overcapacity is a key cheap oil myth. The opposite myth, or rather belief is increasingle easy to prove: both OPEC and non-OPEC suppliers are not able to keep pace with world demand, their own domestic oil consumption, and ward off depletion losses.
Venezuela sidelines US oil companies
Access to some of the most coveted oil reserves in the Western Hemisphere is at stake, with Venezuela exporting about 1.2 million barrels of oil a day to the United States, or nearly 15 percent of American imports. But the overtures to the Chinese, Russians and Iranians have added to worries among private oil companies that Venezuelan policies toward them are becoming increasingly unpredictable.
Another 10 years of high oil prices?
Talk to traders about oil prices and they only look a few months ahead. But a new book from George Soros’ former colleague Jim Rogers, ‘Hot Commodities’ points to a much more long-term outlook, and the news for oil is very good.
