A major two- year investigation by EarthRights International has found further, compelling evidence linking oil giants Total and Chevron to forced labour, killings, and high-level corruption in Burma. The important report, called Total Impact, documents how Total and Chevron’s highly controversial Yadana gas project has generated just under $5 billion for the ruthless military junta … Read More
President Susilo Bambang Yudhoyono of Indonesia has said that his country was considering quitting OPEC because it was no longer a net oil exporter. “Our wells are drying,” he said in a nationally televised speech, adding that the country needed to concentrate on increasing domestic production, which has dropped to less than a million barrels a … Read More
BP looks set to win a controlling stake in Pakistan State Oil (PSO) in a deal worth around $600 million.The Pakistani Government owns 54 per cent of PSO and is selling 51 per cent stake in the group, leaving 3 per cent in government hands. BP has been competing with Petronas, the Malaysian oil and … Read More
Although the United States and EU have imposed economic sanctions on Burma (Myanmar) in recent years as a result its appalling human rights record, this has not stopped oil companies investing in the country. Two little-known foreign companies have signed a deal for offshore oil and gas exploration with the state-owned Myanmar Oil and Gas … Read More
Since May 2006, a massive mudflow in Sidoarjo, East Java, Indonesia has left at least seven people dead, swallowed several villages, displaced 15,000 residents and destroyed 20 factories, all resulting in economic stagnation in the region. On Thursday, Indonesian police investigating the mudflow have pointed to poor management of oil drilling operations as the cause … Read More
Leaders at an East Asian summit have signed an agreement to promote energy security and find alternatives to conventional fuels. The agreement was signed by 10 South East Asian nations, China, Japan, New Zealand, India, S Korea and Australia.
Once again here is the irony. Asia’s economies are booming. Energy consumption is set to sour. Much of this will be conventional energy, including fossil fuels. This will lead to climate change, that will devastate the region. So the more the economies boom, eventually they will bust.
Shell’s subsidiary, Shell Global Solutions is attempting to position itself as the preferred partner for businesses in Asia in managing and developing their growing energy needs. And these needs are increasing rapidly. According to the Energy Information Administration’s (EIA) International Energy Outlook 2006 report, world consumption is projected to increase by 71% from 2003 to 2030.