Posts in April 2007
Shell Settles Reserves Issue for $700m
Oil giant Shell is expected to pay out more than $700m in fines and compensation to settle the reserves fiasco that has dogged the company for the last few years. The figure was revealed by Shell after it offered to settle damages claims of $352m with European investors and hoped to find a similar solution…
Continue reading ‘Shell Settles Reserves Issue for $700m’.Carbon Cost of “Live Earth” Criticised
It is being billed as the concert that will awaken the world to the dangers of climate change. It took Bob Geldof’s persuasive powers to rally support in aid of Africa. Now, over twenty years after the first Live Aid concert, Al Gore is hoping to help to save the planet with a day of…
Continue reading ‘Carbon Cost of “Live Earth” Criticised’.Iraq: World’s Largest Oil Reserves
In a little reported development, Iraq’s Oil Minister has claimed that Iraq has over 300 billion barrels of oil reserves, which would mean the country top’s Saudia Arabia. Hussain al-Shahristani made the claim to a Lebanese newspaper at the weeek, although there remains confusion as to whether he was talking about confirmed reserves or a…
Continue reading ‘Iraq: World’s Largest Oil Reserves’.Halliburton Leaves Iran
Halliburton has said that its subsidiary in Iran had completed all its commitments and was no longer working in the country. In January 2005, the company said that it would not accept new work in Iran but that it would complete existing contracts there.
Gas Cartel Ruled Out
The world’s largest gas exporters have ruled out launching an Opec-style cartel that would control 70 per cent of the world market. Instead they promised “collaborated efforts” on issues such as pricing. Energy ministers from the 13 largest gas exporters have met in Doha, Qatar, to discuss proposals from Iran and Venezuela to develop the…
Continue reading ‘Gas Cartel Ruled Out’.Chavez On Collision Course Again
President Hugo Chavez has set a May 1 deadline for an ambitious plan to wrestle control of several major oil projects from American and European companies. So a showdown seems inevitable, with officials warning that they might sell American refineries meant to process Venezuelan crude oil.
The Geopolitics of Climate Change
The CIA, National Security Agency, the Pentagon and FBI should undertake a comprehensive review of the national security threat posed by climate change, according to two US Senators Dick Durbin and Chuck Hagel. Last week, Durbin, an Illinois Democrat, and Hagel, a Republican from Nebraska, introduced bipartisan legislation that would require a National Intelligence Estimate…
Continue reading ‘The Geopolitics of Climate Change’.Think-Tank: “Put Warnings on Adverts for Flights”
As thousands of people get ready to fly off for the Easter break, a leading British think-tank is arguing that adverts for flights, holidays and cars should carry tobacco-style health warnings to combat the public’s “addiction” to polluting transport and reduce climate change. The Institute for Public Policy Research said highly visible warnings, such as…
Continue reading ‘Think-Tank: “Put Warnings on Adverts for Flights”’.IPCC Cites Humans in Climate Impacts
The New York Times reports that the latest IPCC report to be released today has found with “high confidence” that greenhouse gas emissions are at least partly responsible for a host of changes already under way, including longer growing seasons and shrinking glaciers. The report said there was at least a 90 percent chance that…
Continue reading ‘IPCC Cites Humans in Climate Impacts’.New European Pipeline Planned
The European Energy Commissioner Andris Piebalgs has signed an agreement with five southern European countries to build a pipeline which will transport oil directly from the Black Sea to central European markets. The Pan-European Oil Pipeline is aimed at linking the Black Sea port of Constanta, Romania to the oil hub of Trieste, Italy. The…
Continue reading ‘New European Pipeline Planned’.
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