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OiL Stocks: Oil Tops $70 in Expectation of War 2007-04-08 00:15:00 The price of oil rose again yesterday. North Seas Brent sold for more than $70 per barrel, a seven-month high. This reflects investors' assessment of the risks of military action beginning in the Persian Gulf in connection with Iran's refusal to curtail its nuclear program. Prices began to rise after Iranian President Mahmoud Ahmadinejad announced the release of the sailors, who returned to Read more:Stocks
TEXAS: TXU takes threat back 2007-04-07 18:56:00 by DAVID KOENIG
TXU Corp. told regulators Friday to disregard a threat
to shut down some of its power plants because of a dispute over accusations of price manipulation and said it might even put some mothballed plants back into operation. Chief Executive C. John Wilder acknowledged that the company had mishandled the situation and promised to "get it right the next time." The retreat came after
INDIA: No US pressure on Iran pipeline, Deora to Aziz 2007-04-07 13:57:00 by Sanjay Dutta
US antipathy towards the $7 billion pipeline for wheeling gas from Iran to India through Pakistan cast its shadow over Tuesday's talks between Pakistan prime minister Shaukat Aziz and oil minister Murli Deora, even as Islamabad put up a brave front by proposing a formula aimed at allaying India's fears over security of the pipeline and break the logjam over transit charges.
PAKISTAN : IOC eyes petrochem exports to Pakistan 2007-04-07 13:52:00 by Sanjay Dutta Flagship refiner IndianOil is in sight of opening a passage to Pakistan with its petrochemicals and base oils used for making lubricants but chances of Indian motor fuels flowing into that country still remain distant, oil ministry sources said.
At his meeting with oil minister Murli Deora on the sidelines of the 14th Saarc summit, Pakistan prime minister Shaukat Aziz sought a Read more:exports
IRAN - RUSSIA: Power Plant, to resume talks over Bushehr power plant Monday 2007-04-07 13:22:00 Iran and Russia will resume their third round of talks on financial problem of Bushehr power plant, in southern Iranian Bushehr province, in Tehran on Monday
. The talks will be attended by delegations from Iran's Atomic Energy Organization (IAEO) and the Russian state-owned nuclear contractor Atomstroiexport. The Russian side in a report said on Saturday that a delegation comprising Read more:Power Plant
CHINA : Sinopec to Take Stake in PetroChina's Oil Refinery 2007-04-07 06:42:00 by Wang Ying
China Petroleum & Chemical Corp., Asia's biggest oil refiner, will take a stake in PetroChina
Co.'s $2 billion oil-processing plant in Qinzhou in the southwestern province of Guangxi, a company official said. PetroChina, the local government and Sinopec, as China Petroleum is known, will invest in the refinery which obtained central government approval in February, Read more:Refinery
, Stake
ASIA: Kazakh PM participated in Baku grain terminal opening ceremony 2007-04-07 04:23:00 President of Azerbaijan Ilham Aliyev and Kazakh
Prime Minister Karim Massimov participated in the event.Baku grain terminal
joint venture of Kazakhstan and Azerbaijan was formed within the framework of mutually beneficial economic cooperation. The decision on the establishment of the terminal was supported by the governments of both countries with the purpose of Kazakhstan's grain export
ASIA : BP's Azeri pipeline reaches million bpd capacity 2007-04-07 04:16:00 The BP-run Baku-Ceyhan pipeline from Azerbaijan to Turkey has reached its full capacity of 1 million
barrels per day, the British firm said on Thursday.The 1,768 km (1,099 mile) pipeline, launched in May 2006, pumps crude from the giant Azeri-Chirag-Guneshli (ACG) group of fields in the Caspian Sea to the Turkish Mediterranean port of Ceyhan."The Baku-Tbilisi-Ceyhan pipeline is now capable of
ASIA : Azerbaijan, Russia not negotiating on electricity imports 2007-04-07 03:05:00 Azerenergy and RAO EES (Unified Energy Systems) are not negotiating
on import of Russia
n electricity
.Marlen Asgarov, the Vice-President of Azerenergy, Azerbaijan
's State Electricity Company, told APA that Azerbaijan refused to buy Russian electrical energy as RAO EES offered unfavorable prices."If the Russian company insists on its position, Azerbaijan will not purchase electricity," he Read more:imports
ASIA : BTC pipeline exports 100mln barrels of oil 2007-04-07 01:35:00 100mln barrels of oil have been exported to Europe via the Baku-Tblisi-Ceyhan (BTC) pipeline.
The 100,000,000th barrel of oil was sent to Italy in "Sea Prince" taker today, APA reports."Sea Prince" was the 130th tanker of oil exported by THE BTC pipeline. The daily productive capacity of the exported oil in 2008 will be 1mln barrels (approximately 50mln tons in a year). Read more:exports
AZERBAIJAN: Is going to use alternative energy sources 2007-04-07 01:17:00 It is very profitable to harness the sun's rays as a source of heat, said Azerbaijan's Industry and Energy Ministry's official for Economy Department Rafig Aliyev.He noted the ministry holds meeting with foreign companies on this issue, APA-Economics reports."Mainly European companies have made these proposals. Integration to European economy makes it possible for us to achieve definite results Read more:sources
ASIA : Shah Deniz gas field output to halve against the prediction 2007-04-07 01:07:00 The President of the State Oil Company of Azerbaijan (SOCAR), Rovnag Abdullayev, said the field is likely to produce a bit more than 3 billion cubic meters of gas for this year, APA-Economics reports.He said well SDA-2 is on-line producing at present and the third well will be brought on line in the first ten days of May. The teething problems will be removed after the two pre-drilled wells are Read more:against
, gas field
CANADA: Shipbuilders worried by free-trade negotiations 2007-04-07 01:04:00 By TOM PETERS
In its haste to get a free-trade deal with South Korea, the federal government has been cautioned not to negotiate terms that would jeopardize Canada’s shipbuilding and marine services industry. "We don’t want this sector of our industry to be sacrificed at the altar of trade to the benefit of other industries," NDP shipbuilding critic Peter Stoffer said Wednesday. The U.S.
ASIA : Azerbaijan presents preliminary report on renewable energy development project 2007-04-07 00:57:00 Ministry's official Rafig Aliyev said the Asian Development Bank (ADB) and the Government of Azerbaijan
signed a grant agreement for a US$900,000 technical assistance project to assess the potential and options for renewable energy development in the country.The project, supported by the Government of Finland, developed an action plan to boost renewable energy development and design pilot Read more:report
FRANCE: High oil prices caused by geopolitical tensions, OPEC 2007-04-07 00:28:00 High oil prices are being caused by geopolitical tensions and not by a lack of supply, OPEC ministers said on Thursday.
"This price is not related to demand and supply at all. It is only related to geopolitics," Qatari Energy Minister Abdullah bin Hamad al-Attiyah said on the sidelines of an oil industry conference here.
His comments were echoed by OPEC President Mohammed al-Hamili, who is
INDIA: Andhra to be world capital of natural gas 2007-04-07 00:25:00 Murli Deora, Union Minister for Petroleum and Natural Gas, said on Thursday that Andhra
Pradesh will become the world capital
of natural gas because of the Krishna Godavari (KG) basin
He said that there is so much gas in the KG basin that in two to three years there will be no shortage of gas for the industries and power projects.
He was speaking after launching "5 percent ethanol bled petrol"
PAKISTAN: The Goverment offers to sell Iranian gas to India 2007-04-07 00:10:00 Lending a new twist to negotiations on the tri-nation gas pipeline, Islamabad has offered to sell Iranian
gas to India
at its border to save New Delhi the bother over risks associated with safe transit of the fuel through Pakistani territory.
Pakistan's Prime Minister Shaukat Aziz at a late night meeting with Petroleum Minister Murli Deora here on April 3 offered to buy 60 million standard Read more:Goverment
INDIA: Light for those tired of inflated electricity bills 2007-04-07 00:06:00 by MOUMITA BAKSHI CHATTERJEE
Do you think your electricity
bills are inflated? IT company KLG Systel will soon launch a web-based solution which will allow consumers to monitor the power consumption patterns of their appliances and even schedule them remotely. The solution, dubbed energy portal for now, will come bundled with client-side hardware and is expected to hit the market sometime in May. Read more:tired
INDIA: Bhel projects only through tenders, Nuclear Power Corporation of India 2007-04-06 23:57:00 Power major NTPC plans to set up 6,000 MW of nuclear generation capacity over the next few years and is talking to equipment and fuel suppliers for the purpose. “We will have 2,000 MW of nuclear power generation by the middle of 12th Plan (2012-17). Simultaneously, we will start work on two power plants of 2,000 MW each,”
NTPC Chairman and Managing Director T Sankaralingam said. Sankaralingam Read more:Corporation
, Nuclear
INDIA: Tata Power secures 40 MW more, shortage now stands at 100 MW 2007-04-06 16:39:00 Tata Power, currently acting as a nodal agency for procuring power for the city, has secured 40 MW of additional power, reducing the deficit faced by the metropolis to 100 MW.
With the additional procurement, the company has managed to secure 300 MW over the last few days, a Tata Power spokesperson said. Tata Power had yesterday secured 260 MW from various sources, reducing the gap between Read more:stands
, Tata Power
USA: Halliburton Saparated KBR 2007-04-06 13:35:00 Halliburton Co., the oilfield services company, has split off its subsidiary KBR Inc., an engineering and construction company that had been a unit for 44 years, the companies said on Thursday.
Halliburton first announced plans in January 2005 to separate KBR, whose results had dragged on overall profitability. KBR is the Pentagon's largest contractor in Iraq, and its shares began trading in Read more:Halliburton
OCEANIA : Australia To Appropriate Antarctic Potential Oil Reserves 2007-04-06 13:33:00 Australia, who claims 42 per cent of the Antarctic
landmass covering 5.9 million square kilometres, might have difficulties "protecting" their property from interlopers should the world have a shortage of natural resources in the not so distant future, Herald Sun reported.
Although never universally recognised, nobody has ever disputed Australia's claim. But Antarctica possesses vast mineral Read more:Australia
, Potential
AFRICA: Kenya Allowed Shell Takeover BP Assets 2007-04-06 13:18:00 The Treasury of Kenya
opened yesterday the way for the blocked merger of two subsidiaries of oil transnationals. Kenya's finance minister Amos Kimunya allowed the Shell
takeover of BP's assets, ending months of anxiety by the joint marketers.
It has taken nearly two years since the takeover details emerged for a tribunal to rule on the matter.
However, the new entity would have to off-load 10 Read more:Assets
, Takeover
USA: OiL, What's Gone Wrong? 2007-04-09 11:39:00 by Chris Rowe (tycoonreport.tycoonresearch.com)Assets of ETFs in the U.S. grew by 38% last year to $417 billion. There were 156 new offerings, which brought the total number of funds to 359. There are more and more ETF providers adding to the development pipeline every day, and each new ETF seems to have increasingly sophisticated approaches. The benefit here is that you are provided with new Read more:Gone Wrong
, Wrong
OiL Stocks: Oil prices fall in Asian trade on profit-taking 2007-04-09 11:32:00 Oil prices fell on profit
-taking in Asian
trading hours after the end of the two-week confrontation between the UK and Iran over Iran's seizure of 15 UK naval personnel, dealers said.
However, dealers said that concern about tightness in the reserves of motor fuel in the US had limited the decline. At 11.20 am here (0320 GMT), the New York Mercantile Exchange's main oil futures contract, light Read more:Oil prices fall
, Stocks
CLIMATE CHANGE [video]: EU Says Report Underscores Need to Limit Global Warming 2007-04-09 10:51:00 A major UN report on the potentially devastating effects of global warming provides new evidence for the need to limit climate change. But the US, China and Russia stand accused of seeking to water down some sections. EU leaders agreed tough targets last month for reducing emissions of the gases that cause global warming, with the aim of limiting the rise in temperature to below two degrees Read more:Global
, Limit
, video
INDIA: Record turnover for BHEL power sector division 2007-04-09 09:31:00 The powersector
division of BHEL (Southern Region) has reported a record turnover of Rs 625 crore for the last fiscal, an increase of 68.5 per cent over the previous year's turnover of Rs 371 core.
"This is the best ever performance of the division so far", group General Manager of the power division of BHEL (South), E Meenakshisundaram, told a press conference here on Saturday night.
The Read more:Record
RUSSIA : Gazprom deal for Sakhalin II stake to be closed in April 2007-04-09 06:54:00 Gazprom's deal to buy a stake in the Sakhalin
II oil and gas project will be completed in April
, the Russian industry and energy minister said Friday.
"In April, all decisions, not just legal, on the deal, will be completed," Viktor Khristenko said.
Khristenko said Gazprom, Shell, Mitsubishi and Mitsui are finalizing legal documents.
The ambitious oil and gas project, formerly led by Read more:Gazprom
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