Latest Energy News | World News
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Italian Companies Interested in Building Gas Pipeline Through Bosnia
A memorandum of understanding was signed on the construction of a gas pipeline between Bosanski Brod and Zenica earlier this month. The best route for the projected pipeline increasingly appears to be "the Adriatic Route," which would transit Bosnia-Herzegovina on its way to Split in Croatia. Companies interested in the Adriatic Route project include Britain’s BP and Italy's Azienda Generale Italiana Petroli (AGIP), Dnevni List reported. According to Belgrade Professor Argam Naim, who has done a preparatory document for a feasibility study, the Adriatic Route is the best route for the pipeline and it does not matter whether the pipeline's starting point is…
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Niger Republic to export gasoline to Nigeria
Despite Nigeria being Africa’s leading exporter of crude oil, a lack of investments in the country’s refineries have left Africa’s most populous nation with chronic gasoline shortages.Now Nigeria is considering an arrangement to import gasoline from neighboring Niger. Nigerian President Goodluck Jonathan has been speaking to President Mahamadou Issoufou of Niger Republic at the opening of bilateral talks between delegations of the two nations at the State House in the capital Abuja, The Daily Trust reported. Issoufou told Jonathan that he wanted agreements signed under the auspices of the Nigeria-Niger Joint Commission, which include electricity, water supply for agriculture, information,…
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China's Shenhua Group Investing $8 Billion in Xinjiang Coal Projects
Shenhua Group Corp Ltd., China's biggest coal producer, will invest $8 billion in coal-to-oil conversion projects in the country’s western Xinjiang Uighur autonomous region. According to Shenhua Group Corp Ltd., within four years Shenhua will reach 70 million tons of annual coal production and build a coal-to-oil conversion plant with annual production capacity of 3 million tons, China Daily reported. Shenhua Xinjiang Energy Co Ltd. vice-general manager Wang Ningbo said that the company is waiting for official governmental approval of the project, adding, "Hopefully, we will get the approval by the end of this year and the construction of the…
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Russia and Turkmenistan to Partner in Offshore Oil and Gas Exploration
Russia’s Itera and Zarubehzneft have signed a Caspian production sharing agreement with Turkmenistan for exploring the country’s offshore Caspian sector for oil and natural gas. Itera general director Vladimir Makeyev and Zarubezhneft CEO Nikolai Brunich signed a production-sharing agreement to develop jointly the 21st block of Turkmenistan's sector of the Caspian. The production sharing agreement stipulates that Zarubezhneft is the project operator and is authorized to do all the oil-production work under the PSA on behalf of the contracting companies, The Moscow Times reported. Initial estimates by Itera and Zarubehzneft put Block 21's recoverable oil resources at 219 million tons,…
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Turkey Amenable to South Korea's Nuclear Energy Proposals
Turkey’s Economy Minister Zafer Caglayan told reporters during a meeting with South Korean Knowledge Economy Minister Choi Joong-Kyung in Seoul, "My ministry and the Turkish government are open to every proposal by South Korean companies over the issue of nuclear power plants." Turkey is expected to attract new investment from South Korea totaling $2.5 billion following the anticipated signing of a free trade agreement between the countries soon, Turkey’s Anadolu Ajansi reported. Caglayan told journalists, “More investments will come to Turkey under the FTA. We have solved many problems during the visit. We have removed the obstructions in front of…
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OECD Reports Most Active Nations in Environmental Research
According to a just released report by the Organization for Economic Cooperation and Development, New Zealand’s government is the world’s most environmentally friendly country for government sponsored research, spending 13.39 percent the total government budget for environmental research and development activities. The OECD cited Canada in second place with 4.38 percent, Australia third with 4.11 percent and Spain at 4.07 percent. Taking up firth place was Portugal with 3.69 percent, trailed by Hungary's 3.52 percent, and South Korea came in seventh with 3.31 percent, Yonhap news agency reported. Russia ranked at the bottom of the countries surveyed, devoting just 0.14…
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BP Exploring for Oil in Namibia
BP has taken 25 percent equity in Chariot Oil & Gas' exploration license in Namibia’s Orange Basin.BP acquired its share through Enigma Oil and Gas Exploration, a wholly owned subsidiary of Chariot. The new share structure of Orange Basin Block 2714A has Brazil’s Petrobras as operator with 50 percent, with BP and Chariot sharing the remaining interest. The venture hopes to develop an estimated nine billion barrels of oil at the site. BP will pay for Chariot's cost of drilling the first exploration well, scheduled for next year, while also covering past costs incurred, The Namibian reported. Chariot chief executive Paul Welch…
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Nigeria Still Considering Nuclear Power
Nigeria, Africa’s largest oil producer, is considering building nuclear power plants to alleviate the country’s chronic energy shortages, despite the negativity surrounding nuclear power in the aftermath of Japan’s March Fukushima debacle. Nigerian Minister of Power Barth Nnaji said, "Nigeria intends to sit down and properly evaluate what happened in Japan and weigh the risk against national interest," The Vanguard newspaper reported. Nnaji made his observation after meeting with nuclear power specialists from Russia’s Rosatom atomic agency, who are in the country to seek government's assistance to commence the construction of Nigeria’s first nuclear power plant. Minister of Science and…
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Biomass Plants Proposed to Dispose of Fukushima Disaster Debris
Japan’s Forestry Agency is considering building biomass power plants that can use timber from the thousands of houses that were destroyed by the massive 11 March tsunami. Senior vice minister of agriculture, forestry and fisheries Takashi Shinohara said, "Initially, wooden debris will be used for power generation and when it becomes financially viable, wood thinned from forests will be used," Kyodo news agency reported. The Forestry Agency noted that the earthquake and subsequent tsunami created 25 million tons of debris from houses alone, with roughly 70 percent of it wood and even excluding waterlogged debris there are still 5 million…
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Turkey to Hold Third Wind Power Congress
Next month the third international annual congress of Wind Power Turkey of the Turkish Wind Energy Association will be held in Istanbul European Wind Energy Association chief executive officer Christian Kjaer said, “Turkey could be among the top three producers of wind energy” and “has a predictable and attractive market for wind energy investors,” Hurriyet newspaper reported. Turkey’s installed wind capacity tripled during 2007 from 50 megawatts to almost 150 megawatts. It tripled again during 2008 to reach 433 installed megawatts and by the end of 2009 it had almost doubled to 801 megawatts. At the same time, the Turkish government announced…
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