-
British Energy shares up on new bids
Published: May 16, 2008 at 9:17 PM
LONDON, May 16 (UPI) -- Shares in British Energy rose sharply after several more bid proposals. -
India's L&T signs deal with GE
Published: May 16, 2008 at 9:11 PM
MUMBAI, May 16 (UPI) -- India's Larsen and Toubro signed a deal with U.S.-based GE Energy. -
Jordan, GNEP plan for nuclear energy
Published: May 16, 2008 at 9:06 PM
AMMAN, Jordan, May 16 (UPI) -- Jordan and the Global Nuclear Energy Partnership will work to develop nuclear projects.
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UPI Energy Watch
Published: May 16, 2008 at 8:49 PM
Bush asks Saudi Arabia to increase oil output; Venezuela threatens a spike in oil prices if it's attacked; Indian oil workers in Sudan kidnapped by locals -
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.
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Iraq readies oil, gas, Iran pipeline bids
Published: March 24, 2008 at 4:53 PM
WASHINGTON, March 24 (UPI) -- Iraq announced tenders for international oil companies to test two of its largest oil fields, develop a major natural gas field and build a pipeline to Iran.
The four tenders, revealed on the Oil Ministry Web site, are part of the country's larger effort to increase oil production and exports while meeting domestic demand.
Iraq is producing about 2.4 million bpd of oil and exporting 1.9 million bpd, the highest rate of consistent output since 2003. Iraqis face massive fuel and electricity shortages, however, due to a lack of refining and other infrastructure capacity.
Companies have until April 30 to file applications to conduct 3-D testing of the super giant Rumaila and Kirkuk oil fields. The fields contain proven reserves of 17 billion barrels and 10 billion barrels, respectively.
Iraq has 115 billion barrels of proven reserves -- the third largest in the world -- but is underexplored due to Saddam Hussein's mismanagement of the oil sector, U.N. sanctions and post-2003 security conditions.
A meeting will be held by the ministry in June followed by bid selection and work to begin during the last three months of the year.
Both fields are among five under negotiation for Technical Support Agreements between the ministry and Shell, BP, Chevron, ExxonMobil and Total. The TSAs would be two-year deals where the companies would be paid to provide equipment, training and studies. Each field would increase production by 100,000 barrels per day, the ministry said.
The ministry is also accepting bids to develop the Akkas gas field, located near the Syrian border. The field has 2.1 trillion cubic feet of gas and is pegged for export to Syria and potentially to Turkey and Europe. It's located in a once more dangerous area of Anbar province and could be the first large hydrocarbons development in an area of Iraq that is majority Sunni Arab.
The fourth tender is for engineering, design, study and procurement of materials for a project to send Iraqi oil to Iran and Iranian-refined products to Iraq. The pipes themselves have already been purchased. The pipelines would run below the Shatt al-Arab waterway in southeast Iraq.
The Akkas and pipeline project applications are due April 24.
The tenders come as Baghdad faces disputes with both the Kurdistan Regional Government, which wants autonomy to develop the resources in its area, and Iraq's oil workers, who want limits on foreign participation in the currently nationalized oil sector.
The KRG has signed deals of its own already, over Baghdad's objections and warnings. The workers have also criticized Iraq's ministries for not investing more of their own funds instead of relying on foreign investment.
--
Ben Lando, UPI Energy Editor
--
(e-mail: blando@upi.com)
The four tenders, revealed on the Oil Ministry Web site, are part of the country's larger effort to increase oil production and exports while meeting domestic demand.
Iraq is producing about 2.4 million bpd of oil and exporting 1.9 million bpd, the highest rate of consistent output since 2003. Iraqis face massive fuel and electricity shortages, however, due to a lack of refining and other infrastructure capacity.
Companies have until April 30 to file applications to conduct 3-D testing of the super giant Rumaila and Kirkuk oil fields. The fields contain proven reserves of 17 billion barrels and 10 billion barrels, respectively.
Iraq has 115 billion barrels of proven reserves -- the third largest in the world -- but is underexplored due to Saddam Hussein's mismanagement of the oil sector, U.N. sanctions and post-2003 security conditions.
A meeting will be held by the ministry in June followed by bid selection and work to begin during the last three months of the year.
Both fields are among five under negotiation for Technical Support Agreements between the ministry and Shell, BP, Chevron, ExxonMobil and Total. The TSAs would be two-year deals where the companies would be paid to provide equipment, training and studies. Each field would increase production by 100,000 barrels per day, the ministry said.
The ministry is also accepting bids to develop the Akkas gas field, located near the Syrian border. The field has 2.1 trillion cubic feet of gas and is pegged for export to Syria and potentially to Turkey and Europe. It's located in a once more dangerous area of Anbar province and could be the first large hydrocarbons development in an area of Iraq that is majority Sunni Arab.
The fourth tender is for engineering, design, study and procurement of materials for a project to send Iraqi oil to Iran and Iranian-refined products to Iraq. The pipes themselves have already been purchased. The pipelines would run below the Shatt al-Arab waterway in southeast Iraq.
The Akkas and pipeline project applications are due April 24.
The tenders come as Baghdad faces disputes with both the Kurdistan Regional Government, which wants autonomy to develop the resources in its area, and Iraq's oil workers, who want limits on foreign participation in the currently nationalized oil sector.
The KRG has signed deals of its own already, over Baghdad's objections and warnings. The workers have also criticized Iraq's ministries for not investing more of their own funds instead of relying on foreign investment.
--
Ben Lando, UPI Energy Editor
--
(e-mail: blando@upi.com)
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