Posts in September 2007
China: Coal to Oil in 2008
Stupid Idea One. China’s largest coal company Shenhua Group will produce China’s first barrel of oil fuel from coal in 2008 using technology known as direct coal liquefaction. “We have finished 95 percent of the engineering projects at the first production line in Erdos of north China’s Inner Mongolia Autonomous Region. The line will start…
Continue reading ‘China: Coal to Oil in 2008′.Iraqi Kurds Demand Oil Minister’s Resignation
The increasingly bittter issue of who controls Iraq’s oil shows no sign of abating. The Kurdistan Regional Government has now demanded Baghdad’s oil minister be sacked, following his remarks that oil contracts signed by the regional government are “illegal” Oil Minister Hussein al-Shahristani should quit rather than “interfere in the internal affairs” of the Kurdish…
Continue reading ‘Iraqi Kurds Demand Oil Minister’s Resignation’.Ex-Oil Exec Says He Paid Lawmaker
Bill Allen, the former chairman of VECO Corp, has testified that he paid a lawmaker nearly $8,000 to help keep him in office and advocate for the construction of a natural gas pipeline tapping the state’s vast North Slope Reserves. The money was paid to former House Speaker Pete Kott in an inflated invoice for…
Continue reading ‘Ex-Oil Exec Says He Paid Lawmaker’.Nigeria: Gunmen Kidnap Toddler
Wire reports are claiming that gunmen have kidnapped the two-year-old daughter of a Shell worker in Port Harcourt. The child was abducted when the unidentified gunmen raided her father’s residence in the city on Wednesday night. “We have information that the daughter of one of our staffers was kidnapped. We appeal for an early release…
Continue reading ‘Nigeria: Gunmen Kidnap Toddler’.Tories Back Taxes on Flights
The leader of the UK Conservatives, David Cameron is set propose a number of green taxes, including the imposition of VAT on aviation fuel on domestic flights and a new airline passenger tax linked to the carbon efficiency of the flight. The Conservative party’s quality of life report, chaired by ex-Minister John Gummer, and Zac…
Continue reading ‘Tories Back Taxes on Flights’.IEA Predicts Lower Demand as Oil Reaches $80 a Barrel
The International Energy Agency’s has forecast lower-than-expected demand for oil next year by about 160,000 barrels, citing slower economic growth in the US and Europe. It predicted demand of 88.02m barrels a day next year, down from the 88.16m it forecast last month, and also forecast falling demand in the final quarter of this year,…
Continue reading ‘IEA Predicts Lower Demand as Oil Reaches $80 a Barrel’.Exxon Seeks Venezuela Deal
Oil giant Exxon Mobil is seeking arbitration over a stand-off with Venezuela about the takeover of its oil assets. The US oil firm made its case to the International Centre for Settlement of Investment Disputes, a group with close ties to the World Bank. It has not said how much compensation it wants for the…
Continue reading ‘Exxon Seeks Venezuela Deal’.Alaska Probes Further Fires at BP
Alaska officials are investigating BP again due to a spate of fires on the North Slope, which come after two years of scrutiny over safety at BP’s U.S. operations. A flaring event earlier this week was the fourth BP fire in the past month, a troubling pattern that could result in some new rules, state…
Continue reading ‘Alaska Probes Further Fires at BP’.Asia Gears up for Massive Palm Oil Boom
Southeast Asian nations are gearing up for a major palm oil boom as interest in biofuels soars, but activists are warning against the expansion. They also argue that oil palm plantations require massive swathes of land — either what’s left of the region’s disappearing forests, denuded plots that would be better off reforested, or land…
Continue reading ‘Asia Gears up for Massive Palm Oil Boom’.Venezuela and China Plan $10 Billion Heavy Oil Venture
Petroleos de Venezuela SA, the state-owned oil company, and China National Petroleum Corp will invest over $10 billion to produce oil in the Faja del Orinoco region and refine at least some of it in China. The venture may produce as much as a million barrels a day, Rafael Ramirez, the minister of energy and…
Continue reading ‘Venezuela and China Plan $10 Billion Heavy Oil Venture’.
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