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Liberia Moves to Allow Foreign Oil and Gas Exploration

Oilprice.Com — Fri, 10 Sep 2010 21:12:00 EST

For the first time since it gained independence over a century and a half ago, Liberia has struck an agreement with a foreign company for the exploration of crude oil in its territorial waters.

Oil falls further in Asian trade

Commodity Online — Wed, 08 Sep 2010 17:55:00 EST

SINGAPORE (Commodity Online) : World oil prices dropped further in Asian trade Wednesday mainly on weak regional stocks while a strong dollar also dent the black gold.

Light sweet crude for October delivery was seen trading at $73.71 a barrel at 12.00 noon Singapore time while Brent crude was at $77.31 a barrel in London.

3 vessels working on same pipeline at Nord Stream

Commodity Online — Wed, 08 Sep 2010 17:54:00 EST

ZUG, SWITZERLAND (Commodity Online): The simultaneous work of three vessels on the same leg of the Nord Stream pipeline in the Baltic Sea is rare for the industry, the project consortium said.

Iran says India considering sea route to buy gas

Commodity Online — Wed, 08 Sep 2010 17:52:00 EST

TEHRAN (Commodity Online) : Iran�s National Iranian Gas Company said Asian giant India has again expressed interest in buying natural gas from the country via sea route.

According to NIGC managing director Javad Owji, whom is also Iran�s deputy oil minister, India has expressed willingness to restart negotiations through an international firm, to independently import natural gas from Iran via a sea pipeline.

Nestle,Raisio to use rapeseed oil to make diesel

Commodity Online — Wed, 08 Sep 2010 17:51:00 EST

Commodity Online
Neste Oil and Raisio have entered into an agreement on the use of domestic rapeseed oil surplus as raw material for renewable diesel.

Neste Oil and Raisio have agreed on long-term cooperation regarding the utilisation of Raisio�s rapeseed oil surplus as a renewable diesel raw material of Neste Oil. According to the agreement, starting from October 2010 Neste Oil will use all the rapeseed oil generated as a by-product in Raisio�s feed protein production that has no market in the food chain.

Chevron gets oil drilling approval in China

Commodity Online — Wed, 08 Sep 2010 17:50:00 EST

MUMBAI (Commodity Online): Chevron Corporation has acquired rights to explore for oil on 8,100 square miles in the South China Sea's Pearl River mouth basin, the oil company said on September 7.

EU may drop biofuel plan as pressure mounts

Commodity Online — Wed, 08 Sep 2010 17:48:00 EST

BRUSSELS (Commodity Online) : The European Union is yet to make a decision on its biofuel policy to produce 10 per cent of all transport fuels from biofuels by 2020.

Many environmentalist groups have urged the EU to drop their biofuels targets or else risk plunging more Africans into hunger and raising carbon emissions.

Oil slips as markets await another key US data

Commodity Online — Thu, 02 Sep 2010 18:47:00 EST

SINGAPORE (Commodity Online) : World oil prices eased in Asian trade Thursday after overnight gains on reports of positive manufacturing data�s from the US and China, world�s leading oil consumers.

Light sweet crud for October delivery was seen trading at $73.71 a barrel at 11.30 a.m Singapore time while Brent crude for delivery in October was at $76.08 a barrel in London.

Europe says good bye to incandescent light bulb

Commodity Online — Thu, 02 Sep 2010 18:44:00 EST

BRUSSELS, BELGIUM (Commodity Online): Wednesday marked the end for the 75-watt incandescent light bulb for European consumers, the European Parliament announced.

Vast geothermal power potential lies untapped

Commodity Online — Thu, 02 Sep 2010 18:42:00 EST

WASHINGTON, DC (Commodity Online):The heat in the upper six miles of Earth's crust contains many times the energy found in all the world's oil and gas reserves combined, experts say.

ADB to issue first clean energy bond this month

Commodity Online — Thu, 02 Sep 2010 18:41:00 EST

MANILA (Commodity Online) : In its efforts to support renewable energy projects across Asia, the Asian Development Bank said it is planning to issue its first Clean Energy bond.

In a statement, ADB said the bond is expected to be issued in September, targeting Japanese retail investors.

Diesel cars more eco friendly than electric counterparts

Commodity Online — Thu, 02 Sep 2010 18:40:00 EST

WASHINGTON (Commodity Online) : Contrary to popular belief, small diesel vehicles are more environmentally friendly than their lithium-ion battery counterparts, a study suggests.

EU worried over Russia-Poland gas deal

Commodity Online — Thu, 02 Sep 2010 18:37:00 EST

BRUSSELS (Commodity Online) : The European Union said it remained concerned over a gas deal between Russia and Poland.

The EU said terms for access to a gas pipeline under a deal between Russia�s Gazprom and Poland�s PGNiG may breach European competition law.

Spotlight on Energy Futures

Rick Alexander — Thu, 02 Sep 2010 16:52:00 EST

ENERGIES: 9/02/10 Sharply higher closes Wednesday for crude and heating oil along with the rbob this time while lower for natural gas. The crude, heat and rbob continue to show very choppy action but now are forming possible bottoms.

Oil recovers above $72 after overnight plunge

Commodity Online — Wed, 01 Sep 2010 16:04:00 EST

SINGAPORE (Commodity Online) : Global oil prices recovered in Asian trade Wednesday after an overnight slump below $72 a barrel on reports of increase in US crude inventories.

Light sweet crude for October delivery was seen trading at $72.32 a barrel at 11.30 a.m Singapore time while Brent crude was at $ 75.08 a barrel in London.

'Alberta oil sands exploration poses several risks'

Commodity Online — Wed, 01 Sep 2010 16:02:00 EST

CALGARY, ALBERTA (Commodity Online): There is a significant risk to the environment tied to the exploitation of oil sands found in Canada's Alberta province, a study shows.

Aboriginal Canadians have expressed concern that there were major health and environmental risks associated with metals tied to oil sands in the region. Their complaints were challenged by the oil industry and the Canadian government, which said the high level of metals in the region were linked to natural processes, not the activity of oil sands mining.

Why Martin King is now pessimistic on Nat Gas

Commodity Online — Wed, 01 Sep 2010 16:01:00 EST

By Keith Schaefer
First Energy analyst Martin King � whom I believe has called the natural gas market in North America better than anybody over the last two years � gave up on the likelihood of higher natural gas prices for the next 18 months in a report today, Aug 30.

India-B'desh power trading project gets ADB aid

Commodity Online — Wed, 01 Sep 2010 15:59:00 EST

MANILA (Commodity Online) : Bangladesh-India Electrical Grid Interconnection Project on Tuesday received an $100 million ADB loan that will provide impetus to power trading in South Asia.

In a statement, the ADB said the funds will be used to build a 40-km 400-kilovolt transmission line, along with a high voltage direct current substation and connecting loop, linking the western electrical grid of Bangladesh with India�s eastern grid.

Russian Cos agree to supply oil at market price to China

Commodity Online — Wed, 01 Sep 2010 15:58:00 EST

MUMBAI (Commodity Online): Russian oil companies agreed to supply nearly 70% for a joint refinery project involving China's CNPC and Russia's Rosneft at the market prices.

Iran to resume Turkey gas supply soon

Commodity Online — Wed, 01 Sep 2010 15:57:00 EST

TEHRAN (Commodity Online) : Iran�s National Iranian Gas Company on Tuesday said it will resume gas supplies to Turkey next week.

Gas supply from Iran to turkey was halted since August 25 following an explosion in one of the carrying pipelines.