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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. -
Lundin Petroleum announces oil find
Published: May 15, 2008 at 9:10 PM
STOCKHOLM, Sweden, May 15 (UPI) -- Swedish independent oil and gas company Lundin Petroleum AB announced a new find of oil and gas in the North Sea. -
Google, BP, invest in BrightSource Energy
Published: May 15, 2008 at 6:13 PM
OAKLAND, Calif., May 15 (UPI) -- Google is one of a number of companies that have invested $115 million in solar energy projects.
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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 -
Climate change may upset oil supplies
Published: May 14, 2008 at 3:43 PM
By ROSALIE WESTENSKOW
UPI Correspondent
WASHINGTON, May 14 (UPI) -- Climate change could disrupt U.S. energy supplies by seriously damaging key infrastructure in the country, experts testified Tuesday before Congress.
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New Iraq oil refinery in Nasiriyah
Published: Feb. 18, 2008 at 4:25 PM
Oil Minister Hussain al-Shahristani, in a recent visit to Nasiriyah, capital of Thi-Qar province in the south, touted his plans to build the refinery, the Al Mashriq newspaper reports in Arabic.
"Most of the oil that we produce is crude oil, but we are working in order to transform to petroleum products," Shahristani said.
Iraq currently has a 598,000 barrel per day refining capacity, according to the U.S. Energy Department's data arm, the Energy Information Administration, but the refineries usually don't work at maximum when online. The new Nasiriyah refinery would add 300,000 barrels per day capacity.
Mashriq reports the refinery will cost $1 billion to build and Canadian and American firms have submitted bids.
"Instead of importers we will become exporters of oil products," Shahristani said. "The Oil Ministry has begun negotiating with the world's largest companies; there are just a few in the world. Projects like this require the largest companies to carry them out."
The ministry is working with the local government to "select the best site for the oil refinery," the Voices of Iraq news agency reports.
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