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India's PFC inks pact with Exim Bank
Published: May 16, 2008 at 12:31 PM
NEW DELHI, May 16 (UPI) -- India's Power Finance Corp. has signed an agreement with U.S. Exim Bank to receive an $800 million loan. -
India Oil to shelve refinery proposal
Published: May 16, 2008 at 12:09 PM
NEW DELHI, May 16 (UPI) -- State-run Indian Oil Corp. is contemplating shelving its 15 million-ton greenfield refinery in southern Tamil Nadu state. -
India won't cut duty on oil imports
Published: May 15, 2008 at 9:40 PM
NEW DELHI, May 15 (UPI) -- Indian Finance Minister P. Chidambaram said there will be no reduction in the duty charged on imported oil, despite soaring energy prices.
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Fall River fights five-year battle against LNG facility
Published: May 16, 2008 at 10:18 AM
By JOHN C.K. DALY
UPI International Correspondent
WASHINGTON, May 16 (UPI) -- A five-year struggle continues between Fall River, Mass., residents and Weaver's Cove Energy LLC over a proposed LNG facility. While the Federal Energy Regulatory Commission approved the project, the Coast Guard opposes it as an unacceptable safety risk. -
UPI Energy Watch
Published: May 15, 2008 at 12:19 PM
OPEC cuts estimate of growth in world oil demand for 2008; The United Arab Emirates' crude oil output increased last month; Philippine government may cut taxes on oil and gas -
Nigerian militants attack oil vessel
Published: May 15, 2008 at 11:10 AM
By CARMEN GENTILE
UPI Energy Correspondent
Jimmy Carter and Barack Obama have called for a resolution to the conflict between rebels intent on crippling Nigeria's petroleum industry and government officials. -
Mongolia, coal and inflation
Published: May 14, 2008 at 7:56 PM
By JOHN C.K. DALY
UPI International Correspondent
WASHINGTON, May 14 (UPI) -- Rising fuel and food costs are hitting Mongolia hard, with foreign investors exploiting the situation to pressure the country to open up its economy. Given the country's political isolation, sandwiched between China and Russia, its two major trading partners, Ulaanbaatar is being held over the proverbial barrel in negotiations with its giant neighbors, leaving its population of 2.9 million nervously awaiting further aftershocks from rising inflation. -
Congress blocks administration from stockpiling oil
Published: May 14, 2008 at 7:28 PM
By ROSALIE WESTENSKOW
UPI Correspondent
WASHINGTON, May 14 (UPI) -- Faced with growing pressure to decrease gas prices, U.S. senators voted to stop stockpiling oil in the national reserve yesterday, but they rejected a plan to increase domestic production. -
UPI Energy Watch
Published: May 14, 2008 at 3:47 PM
IEA: Developing nations cause high oil prices; New oil, gas fields will add to Indonesia supply; Australia says oil, gas tax breaks to go
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Iraq's KRG: No deals yet, talks continue
Published: Nov. 27, 2007 at 9:37 AM
WASHINGTON, Nov. 27 (UPI) -- The recent batch of oil deals signed by Iraq's Kurdistan Regional Government is the last for now though talks with oil firms continue, its oil minister says.
"We continue in our efforts," Ashti Hawrami told United Press International while in Washington. He's meeting with political and business officials here and in Texas over the coming weeks.
The KRG controls three provinces that have little of the proven oil reserves of Iraq's 115 billion barrels, the third-largest reserves in the world after Saudi Arabia and Iran.
There are geologic formations to suggest a crude bonanza, however, and the KRG has signed dozens of production-sharing contracts for exploration blocks, with the goal of producing 1 million barrels per day in five years.
"We are not in a rush signing them off," Hawrami said, "but if we have the right company competing appropriately to serve our policy or targets then there is nothing to hold it up."
The KRG made headlines by signing the first oil deals after the fall of Saddam Hussein. But Baghdad contends only it has the authority to make such deals, calling the 15 signed since September alone "illegal."
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Ben Lando, UPI Energy Editor
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(e-mail: blando@upi.com)
"We continue in our efforts," Ashti Hawrami told United Press International while in Washington. He's meeting with political and business officials here and in Texas over the coming weeks.
The KRG controls three provinces that have little of the proven oil reserves of Iraq's 115 billion barrels, the third-largest reserves in the world after Saudi Arabia and Iran.
There are geologic formations to suggest a crude bonanza, however, and the KRG has signed dozens of production-sharing contracts for exploration blocks, with the goal of producing 1 million barrels per day in five years.
"We are not in a rush signing them off," Hawrami said, "but if we have the right company competing appropriately to serve our policy or targets then there is nothing to hold it up."
The KRG made headlines by signing the first oil deals after the fall of Saddam Hussein. But Baghdad contends only it has the authority to make such deals, calling the 15 signed since September alone "illegal."
--
Ben Lando, UPI Energy Editor
--
(e-mail: blando@upi.com)
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This material may not be reproduced, redistributed, or manipulated in any form.
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KRG: 1M barrels of Iraq oil by 2012