Oil sands costs may rise 35%
Canadian Natural Resources says high prices for steel, fuel and labour could boost the cost of the first phase of its Horizon oil sands project in northern Alberta by nearly 35 per cent — to $6.6-billion.
Fossil Fuels
Oil and NZ’s Department of Economic Mythology
A key assumption held by New Zealand’s Ministry of Economic Development (MED) covering the period between 2000 to 2025 is that oil prices will rise from US$20/bbl in 2000 to US$25 a barrel by 2020 and remain constant thereafter.
Iraq Oil Pipelines Hit by Biggest Attacks Yet
Saboteurs have mounted the biggest attacks yet on Iraq’s oil infrastructure, blowing up three pipelines in the north and hitting exports via Turkey, oil officials said Tuesday.
ASPO November Newsletter (text only)
November newsletter from the Association for the Study of Peak Oil & Gas is essential reading. Includes an update on Saudi reserves, an analysis of US petrodollars, a country assessment of Denmark and much more.
South Africa to seek oil from African countries
South Africa will explore ways to source its oil from other African countries in a effort to cope with spiralling global prices.
Another Major Iranian Energy Deal: $3B with India
State-run Indian Oil Corporation has entered into a $3 billion deal with Iran to develop a gas block in the enormous South Pars field, to build an LNG liquefaction plant and to sell the resulting product. This is the IOC’s largest non-Indian investment to date, and one of the largest single investments in South Pars.
Cosmic Easter Eggs
Mineral exploration, like a kind of cosmic Easter egg hunt, becomes increasingly difficult the longer the hunt proceeds. Today, most of the world’s oil explorers are finding that the best chocolate eggs are long gone. The only goodies remaining are a few stray jellybeans and some candy wrappers.
Iran warns of $US100 oil price
A TOP aide to Iran’s supreme leader today declared Tehran did not fear being taken to the UN security council over its nuclear program and warned any resulting oil embargo would see world prices top $US100 a barrel.
At the boundaries of capacity
We should resign ourselves to the fact that the golden times of cheap oil are coming to an end. Oil will remain expensive. Sufficient alternatives will not exist for a long time. The changeover to alternative energy sources is enormously expensive and lengthy. .. One thing is certain: adjusting to the harsh reality of expensive oil will not be without pain.
Oil Eases Below $50 Ahead of U.S. Vote
Oil prices eased further below $50 a barrel on Tuesday, extending a week-long bout of profit-taking that has cut more than $5 from record-high crude ahead of the U.S. presidential election.
Oil: is the end at hand?
The end of cheap oil may mean more than just higher gas prices for Americans. It may mean the end of the oil age as we know it. That is according to the so-called peak oil movement, which says that by 2008 humans will have extracted half of the earth’s oil.
Russian claims on Caspian: The Oil We`re Losing
The Caspian is a promising region for petroleum and natural gas, comparable to the North Sea. Thanks to the ambitions of the states and companies on the Caspian and Russian passivity, Russia has almost missed its chance at gaining a leading position in the region’s oil industry
