-
Plan for biggest solar project in the U.S.
Published: May 13, 2008 at 4:52 PM
ALLENTOWN, Pa., May 13 (UPI) -- PPL Renewable Energy announced plans for the largest U.S. rooftop solar installation. -
Brazil launches greenhouse gas program
Published: May 13, 2008 at 4:49 PM
BRASILIA, Brazil, May 13 (UPI) -- Brazil launched the Brazil Greenhouse Gas Protocol Program under which 12 corporate members have agreed to report their global-warming emissions. -
DoE: U.S. can hit 20 percent wind by 2030
Published: May 13, 2008 at 3:22 PM
WASHINGTON, May 13 (UPI) -- Wind power is capable of becoming a major contributor to America's electricity supply, a report released by the U.S. Department of Energy says.
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UPI Energy Watch
Published: May 13, 2008 at 7:32 PM
OPEC leaders claim no control over oil prices; China quake cuts oil demand temporarily; Kazakhs threaten to sanction Agip -
Oil and Gas Pipeline Watch
Published: May 13, 2008 at 8:48 AM
By DANIEL GRAEBER
UPI Correspondent
Leaders from the European Union met with Middle Eastern officials in Brussels to finalize details of the Trans-Arab gas pipeline. -
UPI Energy Watch
Published: May 12, 2008 at 1:58 PM
Oil, gas executives see sub-$100 prices by end of year; EnCana Corp. splits; Iran says South Stream projects will go ahead -
Analysis: Turks eye carrying Kazakh oil
Published: May 12, 2008 at 1:16 PM
By JOHN C.K. DALY
UPI International Correspondent
WASHINGTON, May 12 (UPI) -- As Kazakh oil exports continue to rise, Turkey is seeking to position itself as a major transit hub for Kazakh hydrocarbons. Despite Turkish aspirations, however, a number of obstacles exist to Kazakhstan diversifying its export routes to include Turkey. -
Analysis: China faces tanker shortage
Published: May 9, 2008 at 8:21 PM
By JOHN C.K. DALY
UPI International Correspondent
WASHINGTON , May 9 (UPI) -- China's rising energy demands will require Beijing to either build or lease ships to carry the oil needed for its industry. As domestic tanker production has failed to keep pace with rising demand, some Chinese maritime specialists see a shortage in carrying capacity for Chinese oil imports developing by 2015. -
Analysis: Russia squeezes Mongolia
Published: May 9, 2008 at 8:16 PM
By JOHN C.K. DALY
UPI International Correspondent
Record-high energy prices are increasingly dominating Russia's trade relations with Mongolia. As Mongolia imports nearly all of its oil from Russia, the country is feeling pressure from sharp Russian price increases, and the government is seeking legislative changes to ameliorate the effect of the price increases on the population.
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OPEC leaders claim no control over oil prices
As oil prices climbed to record levels -- hitting $126 a barrel Monday before dropping Tuesday -- many Western leaders have urged the Organization of Petroleum Exporting Countries to increase production to ease prices. The group has repeatedly refused.
Qatar's Deputy Premier and Energy Minister Abdullah bin Hamad al-Attiyah said he did not see the need for OPEC to meet before its next scheduled gathering in September in response to record high oil prices, the Gulf Times reported.
"There is no need for an early meeting, and we don't believe there is a need for more oil in the market," he said.
He said geopolitics was the main factor driving the oil market, not supply constraints. He also cautioned that prices at current levels were too high and while OPEC producers had received complaints about high prices, they weren't getting complaints about supply.
United Arab Emirates Oil Minister Mohamed bin Dhaen al-Hamli agreed with al-Attiyah and said there were no signs of OPEC meeting before September, but he did add that the cartel would meet any real demand for its oil.
"We are sure the market is adequately supplied," al-Hamli said. "We are ready to supply more oil when the market needs it."
China quake cuts oil demand temporarily
Monday's earthquake in China cut demand for oil, temporarily cutting prices.
Initial reports from Chinese officials and media said refineries in China largely escaped damage in the earthquake that shook the Sichuan province Monday. The area, however, which has more natural fields than large oil processing plants, was definitely affected.
An official from PetroChina said its 200,000 barrel-per-day Lanzhou refinery, the largest in western China and most likely the closest major plant to the quake's epicenter, was shaken but appeared undamaged, China Daily reported.
Other major plants, including PetroChina's Jinling and Sinopec's Maoming, Zhenhai and Gaoqiao refineries, were also unaffected by the quake, officials said, and ports, including a key crude receiving terminal, were also operating normally, sources said.
The Three Gorges Dam, a key hydropower facility, was not affected by the quake, said Hu Xing'e, an executive with the China Three Gorges Project Corp.
Reports from other sources, however, said China's government ordered coal mines, chemical plants and oil and gas wells to halt production to avoid further casualties after the earthquake killed nearly 10,000 people.
The earthquake damaged power plants and transmission lines and may cut the nation's energy demand, what some analysts believe is the reason for oil prices shying away from $126 a barrel for June delivery.
Kazakhs threaten to sanction Agip
Kazakhstan has threatened to sanction the Agip KCO consortium that is developing the Kashagan oil field.
Production at the field has been delayed for more than six months, the Calgary Herald reported.
The oil field is estimated to be one of the largest in the world; recoverable reserves are estimated at 7 billion to 9 billion barrels, but a standoff between the Kazakh government and the consortium has continued to delay drilling.
Kazakh Energy Minister Sauat Mynbayev said the consortium, comprising ExxonMobil and other major oil companies, again has mentioned the possibility of further delaying the schedule.
"Even if there is a small delay … then very concrete sanctions must be drawn up at this stage," Mynbayev said.
The disputes around repostponing the dates of oil production on Kashagan already have led to changes to the government's oil legislation, the Trend Capital News Agency reported.
--
Closing oil prices, May 13, 3 p.m. London
Brent crude oil: $122.25
West Texas Intermediate crude oil: $124.56
--
(e-mail: energy@upi.com)
As oil prices climbed to record levels -- hitting $126 a barrel Monday before dropping Tuesday -- many Western leaders have urged the Organization of Petroleum Exporting Countries to increase production to ease prices. The group has repeatedly refused.
Qatar's Deputy Premier and Energy Minister Abdullah bin Hamad al-Attiyah said he did not see the need for OPEC to meet before its next scheduled gathering in September in response to record high oil prices, the Gulf Times reported.
"There is no need for an early meeting, and we don't believe there is a need for more oil in the market," he said.
He said geopolitics was the main factor driving the oil market, not supply constraints. He also cautioned that prices at current levels were too high and while OPEC producers had received complaints about high prices, they weren't getting complaints about supply.
United Arab Emirates Oil Minister Mohamed bin Dhaen al-Hamli agreed with al-Attiyah and said there were no signs of OPEC meeting before September, but he did add that the cartel would meet any real demand for its oil.
"We are sure the market is adequately supplied," al-Hamli said. "We are ready to supply more oil when the market needs it."
China quake cuts oil demand temporarily
Monday's earthquake in China cut demand for oil, temporarily cutting prices.
Initial reports from Chinese officials and media said refineries in China largely escaped damage in the earthquake that shook the Sichuan province Monday. The area, however, which has more natural fields than large oil processing plants, was definitely affected.
An official from PetroChina said its 200,000 barrel-per-day Lanzhou refinery, the largest in western China and most likely the closest major plant to the quake's epicenter, was shaken but appeared undamaged, China Daily reported.
Other major plants, including PetroChina's Jinling and Sinopec's Maoming, Zhenhai and Gaoqiao refineries, were also unaffected by the quake, officials said, and ports, including a key crude receiving terminal, were also operating normally, sources said.
The Three Gorges Dam, a key hydropower facility, was not affected by the quake, said Hu Xing'e, an executive with the China Three Gorges Project Corp.
Reports from other sources, however, said China's government ordered coal mines, chemical plants and oil and gas wells to halt production to avoid further casualties after the earthquake killed nearly 10,000 people.
The earthquake damaged power plants and transmission lines and may cut the nation's energy demand, what some analysts believe is the reason for oil prices shying away from $126 a barrel for June delivery.
Kazakhs threaten to sanction Agip
Kazakhstan has threatened to sanction the Agip KCO consortium that is developing the Kashagan oil field.
Production at the field has been delayed for more than six months, the Calgary Herald reported.
The oil field is estimated to be one of the largest in the world; recoverable reserves are estimated at 7 billion to 9 billion barrels, but a standoff between the Kazakh government and the consortium has continued to delay drilling.
Kazakh Energy Minister Sauat Mynbayev said the consortium, comprising ExxonMobil and other major oil companies, again has mentioned the possibility of further delaying the schedule.
"Even if there is a small delay … then very concrete sanctions must be drawn up at this stage," Mynbayev said.
The disputes around repostponing the dates of oil production on Kashagan already have led to changes to the government's oil legislation, the Trend Capital News Agency reported.
--
Closing oil prices, May 13, 3 p.m. London
Brent crude oil: $122.25
West Texas Intermediate crude oil: $124.56
--
(e-mail: energy@upi.com)
© 2008 United Press International. All Rights Reserved.
This material may not be reproduced, redistributed, or manipulated in any form.
This material may not be reproduced, redistributed, or manipulated in any form.
