Oil Set for First Weekly Drop Since July as Gulf Output R

Oil is heading for the first weekly decline since July in New York as producers work to restore Gulf of Mexico output and refiners prepare to resume operations after Hurricane Isaac passed.

Alternative Energy And Global Energy Security In Aftermath Of Rio+20

By Alexander Mirtchev, Contributor

 

“Life always gets harder toward the summit–the cold increases, the responsibility increases.” These words by Friedrich Nietzsche aptly characterize the atmosphere among global leaders at June’s international summits.

Cairn steps up hunt for oil and gas in Morocco

British oil firm Cairn Energy has stepped up its hunt for oil and gas off the coast of Morocco, building on its strategy to balance its exploration portfolio beyond high-risk Greenland.

Isaac threatens Gulf oil production

NEW YORK (CNNMoney) -- Tropical Storm Isaac is curtailing oil production along the Gulf of Mexico and threatening refineries, which could send already rising gasoline prices up another 10 cents in the coming week.

Explosion kills 24 at Venezuela refinery

An explosion tore through Venezuela's biggest oil refinery on Saturday, killing at least 24 people, wounding more than 80 others and halting operations at the huge facility.

Spain to pass key energy reform in two phases

MADRID: Spain will pass a much awaited reform of the energy sector in two phases, first a new tax regime for the industry and later an overhaul of the energy market, two sources with knowledge of the matter said on Friday.

Australia's mining boom is over, says resources minister Martin Ferguson

Australia's resources minister, Martin Ferguson, has declared the nation's mining boom "over" after BHP Billiton, the world's biggest miner, delayed plans to build the largest open-pit mine in the world as the global economy slows.

Oil rises on stimulus hopes, supply disruption worries

NEW YORK (Reuters) - Oil prices rose a third straight day on Thursday on hints of a third round of monetary stimulus from the U.S. Federal Reserve and persistent worries that tensions in the Middle East could disrupt crude supplies.

Vestas to cut 1,400 more jobs as it reports quarterly pre-tax loss

Vestas is to shed another 1,400 jobs, bringing total redundancies for the year to more than 3,700, after the world's biggest wind turbine maker slumped to a quarterly pre-tax loss.

Keeping the lights on: Could the UK be plunged into darkness?

Will the lights go out? The very question gives politicians sleepless nights, alarms business and bewilders the householder. Could Britain, one of the wealthiest nations in the world, really be plunged into darkness?

Chevron appeals Brazil ban, seeks oil field restart

RIO DE JANEIRO (Reuters) - Chevron , the No. 2 U.S. oil company, has appealed against an injunction banning it and its drilling contractor Transocean Ltd from operating in Brazil while civil and criminal charges over an oil spill last November are judged.

Protecting porpoises' hearing adds millions to wind farm projects

Porpoises are adding millions of euros to costs for wind-turbine developers in waters off Germany, delaying the nation’s shift from nuclear energy.

Oil Reaches $95 a Barrel on Housing Permits, Middle East Tension

Oil climbed above $95 a barrel for the first time in three months as U.S. building permits reached a four-year high and on concern that Israel will strike Iran and disrupt supplies from the Middle East.

China's coal expansion may spark water crisis, warns Greenpeace

China's plan to rapidly expand large coal mines and power plants in its arid northern and western provinces threatens to drain precious water supply and could trigger a severe water crisis, a report by environmental activists Greenpeace said on Tuesday.

Brent steady above $113 ahead of key Europe, U.S. data

SINGAPORE (Reuters) - Brent crude held steady above $113 per barrel on Tuesday as investors awaited economic growth data out of Europe to gauge the region's energy demand outlook, while escalating tensions in the Middle East supported prices.

Questor shares tip: Genel is a speculative buy

Genel, the oil investment vehicle headed by Tony Hayward, the former chief executive of BP, has been unloved by the stock market.

Iraq oil production surpasses Iran

NEW YORK (CNNMoney) -- Oil production in Iraq surpassed that of its regional rival Iran last month, highlighting the impact of continued investment in Iraq and Western sanctions on Iran.

China oil, iron ore imports slow in July with economy

SHANGHAI (Reuters) - China's imports of crude oil sank in July to a nine-month low and those of iron ore fell for the fourth time in five months as refineries and steel mills cut output due to slackening demand as growth in the world's second-largest economy sputtered.

BP, Total to join TAP pipeline project

PARIS: Energy giants BP and Total and Azerbaijan's state company Socar have signed on to help fund a projected gas pipeline linking Greece with Italy, the Trans Adriatic Pipeline (TAP) consortium said Thursday.

Oil futures mixed after surge on U.S. stock draw

NEW YORK (Reuters) - Oil futures turned mixed in late trading on Wednesday after leaping to three-month highs on U.S. government data showing a sharp drawdown in domestic crude stockpiles last week and amid worries about lower North Sea oil production.

Nuclear energy wild card in Japan poll which Democrats likely to lose

(Reuters) - Growing Japanese opposition to nuclear energy after the Fukushima disaster will be a wild card in a general election many expect within months, but politicians on both sides of the aisle agree on one thing: the Democratic Party is likely to fall from power just three years after its historic landslide win.

Shale gas still an object lesson for miners

Supply and demand is at the heart of basic economics and that applies equally to commodities markets. Nowhere is that currently more apparent than in the gas market.

China National Offshore Oil Corp-Nexen deal to help South China sea thrust

WASHINGTON: The $15 billion bid by China National Offshore Oil Corp (CNOOC) to buy Canada's Nexen, Inc will help the Chinese state giant gain the expertise to drill in deep, disputed waters of the South China Sea without relying on risk-averse foreign firms.

India needs strict controls to avoid blackouts: power firm

MUMBAI (Reuters) - India needs a more cohesive energy policy and stringent grid management to avoid a recurrence of the power outages that hit hundreds of millions of people this week, the chief executive of Reliance Infrastructure Ltd said in an interview.

Israel Finds $240 Billion Gas Hoard Stranded by Politics: Energy

Israel, reliant on imported energy since the state’s foundation in 1948, now has more natural gas than it can handle.

Mitt Romney confirms he would end US wind power subsidies

Mitt Romney looks set to declare war on America's wind energy industry, further emphasising the dividing line between the presumptive Republican presidential candidate and President Barack Obama on energy issues.

Oil pares gains after Fed statement, EIA draw supports

NEW YORK (Reuters) - Oil futures ended off highs in choppy trading on Wednesday after the U.S. Federal Reserve said the economy had lost some momentum but offered no new stimulus, with support still coming from data showing a bigger-than-expected drawdown in U.S. crude stockpiles last week.

Premier Oil contract creates 350 jobs in Scotland

A total of 350 new jobs are to be created after a Scottish business won two new contracts with Premier Oil worth £140m.A total of 350 new jobs are to be created after a Scottish business won two new contracts worth £140m.