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Sabotage plans against Swedish nuke plant?
Published: May 22, 2008 at 11:20 AM
OSKARSHAMN, Sweden, May 22 (UPI) -- Two men have been arrested in connection with a sabotage plot against a Swedish nuclear power plant. -
Time to finish Nabucco, official says
Published: May 21, 2008 at 7:14 PM
ANKARA, Turkey, May 21 (UPI) -- Turkish and Austrian officials agreed that construction of the 2,000-mile Nabucco natural gas pipeline project should begin as soon as possible. -
Middle East's Dana Gas expands operations
Published: May 21, 2008 at 7:13 PM
SHARJAH, United Arab Emirates, May 21 (UPI) -- Dana Gas, the Middle East's first private-sector natural gas company, will invest more than $500 million in regional upstream and downstream activities.
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Biofuels win big bucks from new farm bill
Published: May 22, 2008 at 11:01 AM
By ROSALIE WESTENSKOW
UPI Correspondent
WASHINGTON, May 22 (UPI) -- The farm bill passed last week by Congress, and promised a veto this week by President Bush, gives a big boost to the renewable fuels industry. -
Nigeria to employ militants to guard oil
Published: May 22, 2008 at 10:57 AM
By CARMEN GENTILE
UPI Energy Correspondent
The Nigerian government announced it intends to employ the very same militants often blamed for attacks on oil installations in the Niger Delta to guard the region's oil pipelines. -
Iran develops Caspian port
Published: May 21, 2008 at 5:49 PM
By JOHN C.K. DALY
UPI International Correspondent
WASHINGTON, May 21 (UPI) -- For the last decade the U.S. administration has brandished the 1996 Iran-Libya Sanctions Act to isolate Iran and punish naughty Western companies seeking a foothold in Iran's hydrocarbon sector. -
UPI Energy Watch
Published: May 21, 2008 at 1:08 PM
OPEC still insists its supply is not the cause of record oil prices; Ever-increasing profits from rising oil prices could help reopen oil fields in Canada; Azerbaijan and Turkmenistan have agreed to energy cooperation -
Venezuela warns of hyper oil inflation
Published: May 21, 2008 at 11:29 AM
By CARMEN GENTILE
UPI Energy Correspondent
MIAMI, May 21 (UPI) -- Following the discovery of a U.S. Navy fighter in Venezuelan airspace, President Hugo Chavez warned that oil prices could reach $500 a barrel were the United States to attack Venezuela. -
UPI Energy Watch
Published: May 20, 2008 at 11:31 AM
China's CNPC said it has lost more than $250 million since the earthquake; India's Oil and Natural Gas Corp. is likely to see a drop in oil and gas production; Italy's Eni announced it is investing in oil in Congo.
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Iraq hiring locals to guard, not bomb oil
Published: March 5, 2008 at 4:55 PM
BAGHDAD, March 5 (UPI) -- Iraq will continue its policy of hiring locals to protect new oil and gas infrastructure, especially pipelines, its oil minister said.
Such a policy, along with construction of better security infrastructure around pipelines, is assumed responsible for increasing production and exports in Iraq's northern infrastructure.
The pipeline from the Kirkuk oil fields to Turkey juts into a territory once heavy with insurgents, and from early 2003 to late summer 2007 it was mostly offline due to attacks.
Now those insurgents are paid not to blow it up, but to protect it, Oil Minister Hussain al-Shahristani said.
"This is what we are going to do in any area where we are going to develop an oil or gas field or lay a new pipeline or carry out any new activity," he told CNN. "We are going to recruit people from the very community."
Many explosions in the oil infrastructure are attributed to smugglers, such as those who accidentally make sparks when drilling into a pipeline and trigger a blast.
Most of Iraq's 115 billion barrels of proven reserves are located in the south, and about 90 percent of exports head to market from there as well. While violence is still rampant in the Shiite-controlled south as well, it's usually from an intra-sectarian power struggle, and neither side wants to target the lifeline of the country.
Iraq's oil sales generated up to $40 billion last year, though some U.S. State Department statistics put it closer to about $35 billion.
Such a policy, along with construction of better security infrastructure around pipelines, is assumed responsible for increasing production and exports in Iraq's northern infrastructure.
The pipeline from the Kirkuk oil fields to Turkey juts into a territory once heavy with insurgents, and from early 2003 to late summer 2007 it was mostly offline due to attacks.
Now those insurgents are paid not to blow it up, but to protect it, Oil Minister Hussain al-Shahristani said.
"This is what we are going to do in any area where we are going to develop an oil or gas field or lay a new pipeline or carry out any new activity," he told CNN. "We are going to recruit people from the very community."
Many explosions in the oil infrastructure are attributed to smugglers, such as those who accidentally make sparks when drilling into a pipeline and trigger a blast.
Most of Iraq's 115 billion barrels of proven reserves are located in the south, and about 90 percent of exports head to market from there as well. While violence is still rampant in the Shiite-controlled south as well, it's usually from an intra-sectarian power struggle, and neither side wants to target the lifeline of the country.
Iraq's oil sales generated up to $40 billion last year, though some U.S. State Department statistics put it closer to about $35 billion.
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This material may not be reproduced, redistributed, or manipulated in any form.
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