Natural gas set to flourish

The world could be entering a 'golden age' of natural gas, according to research by energy policy adviser, the International Energy Agency (IEA), which predicts that gas could provide more than a quarter of global energy by 2035.

Gas is plentiful and widely spread geographically, which helps ease countries' concerns over energy security. The IEA's research shows that global resources exceed 250 years of current production and that each region of the world holds resources of at least 75 years of current consumption. But it has been the success of horizontal drilling and hydraulic fracturing (to increase the flow of gas from tightly compressed reservoirs) in recent years that has made it possible to transform these vast resources into usable energy. This technology has transformed the US from the verge of needing to import gas just a few years ago to a substantial exporter of gas.

Defense energy bill will save lives

Saving energy saves lives.

That is how Adm. Michael Mullen, chairman of the Joint Chiefs of Staff, described the imperative for the Pentagon to reduce the number of fuel convoys headed into harm's way in Afghanistan.

Congress must heed Mullen's advice and move quickly to pass legislation that was introduced last year by Congresswoman Gabrielle Giffords of Arizona and Sen. Mark Udall of Colorado. Their bill, the Department of Defense Energy Security Act, has been updated and will be reintroduced on June 8 by Udall.

WEF agenda to highlight food and energy security, sustainability

Business leaders will discuss new global trends, food and energy sustainability and security, inclusive growth, competitive connectivity, and regional leadership at the World Economic Forum (WEF) on East Asia in Jakarta from June 12 to 13.

More than 620 participants from across the world are expected to attend the two-day meeting at the Shangri-La Hotel.

Chevron's Welsh refinery buyer considers impact of fatal blast

The prospective buyer of Chevron's oil refinery in Wales is examining whether an explosion which killed four people at the site this week could affect the deal.

Valero, a US refining giant, agreed to buy the plant for $730m (£445m), plus $1bn for oil stocks and other businesses in March. The deal is due to close in the third quarter of this year.

Will Opec raise supplies? What the oil nations and analysts are saying

The Organisation of the Petroleum Exporting Countries (Opec), which pumps more than a third of the world's oil, is due to meet in Vienna on June 8 to discuss output and its response to a sharp rise in oil prices that could be a drag on economic growth. Here's what oil nations and analysts are perdicting:

Wood Group family sell most of stake in oil services company for £366m

Sir Ian Wood's family and charities are selling most of their £400m stake in Wood Group, the oil services company, as part of a £1bn share buy-back programme.

Wood Group is returning more than £1bn to its shareholders through the scheme, after selling its well support division to GE Energy last month.

Energy Security Index: U.S., Japan Rated 'High Risk' For Short-Term Energy Supply Interruption

Canada has the unique honor of being the sole "Group of Seven" member nation not to be at "high risk" for short-term energy security, a new report has found.

Released Thursday by British risk analysis firm Maplecroft, the 2011 Energy Security Index takes a look at short-term and long-term energy security in 196 countries. According to the firm, the study "highlight(s) the risks to countries as they strive to secure stable energy supplies in a time of geopolitical upheaval, dwindling traditional resources and a transition to a low carbon world."