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News

Iran’s Six Months of Targeted Fuel Subsidies Deemed Successful

Iran’s Six Months of Targeted Fuel Subsidies Deemed Successful

Jul 19, 2011 at 20:30 | Charles Kennedy

On 19 December 2010 Iran introduced targeted subsidies in an effort to control inflation. Iran was urged to do so by international organizations such as the International Monetary Fund.

Kenya’s Oilibya Stops Paying Libyan Government

Kenya’s Oilibya Stops Paying Libyan Government

Jul 19, 2011 at 20:29 | Joao Peixe

Kenya’s oil marketing company Oilibya says it has suspended payments to the Libyan government. The announcement comes in the wake of sanctions issued by U.S. President Barack Obama.  

New Thai Government to Scrap Country’s Oil Fund?

New Thai Government to Scrap Country’s Oil Fund?

Jul 18, 2011 at 21:12 | Charles Kennedy

During a 1 July election rally, Pheu Thai party candidate Yingluck Shinawatra, expected to be first female Prime Minister when the Election Commission validates the recent poll’s results, said that…

India Granted a Waiver by Nuclear Suppliers Group

India Granted a Waiver by Nuclear Suppliers Group

Jul 18, 2011 at 19:45 | Joao Peixe

In 2008 the Nuclear Suppliers Group (NSG), the apex body that controls global nuclear commerce, granted India a waiver on the transferal of sensitive nuclear technologies despite the fact that…

World Bank Provides $99 Million Grant for Nepal Power Project

World Bank Provides $99 Million Grant for Nepal Power Project

Jul 18, 2011 at 19:43 | Joao Peixe

The World Bank is providing a $99 million grant for implementing the Nepal-India Electricity Transmission and Trade Project. World Bank country director for Nepal, and Bangladesh Ellen Goldstein said,…

National Iranian Oil Company to Issue $15 Billion in Bonds

National Iranian Oil Company to Issue $15 Billion in Bonds

Jul 18, 2011 at 18:24 | Joao Peixe

National Iranian Oil Company Managing-Director Ahmad Qalebani said that his company will issue $15 billion oil bonds in 2011. According to Qalebani, during March 2010-March 2011, there was a…

Pakistan to Include Iran in Currency Swaps

Pakistan to Include Iran in Currency Swaps

Jul 18, 2011 at 18:22 | Charles Kennedy

Pakistani President Asif Ali Zardari has proposed that Pakistan and Iran agree on currency swaps in order to strengthen relations. Zardari made the proposal during his meeting in Tehran…

Germany's Greens Criticize Govt. Over New Coal-Fired Power Plants

Germany's Greens Criticize Govt. Over New Coal-Fired Power Plants

Jul 16, 2011 at 19:21 | Charles Kennedy

Germany's Greens, buoyant following Berlin’s decision to shutter the country’s nuclear power plants in the wake of the March Fukushima nuclear catastrophe in Japan, are sharply critical of the government’s…

Iran’s Offer to Expand Sri Lanka’s Oil Refinery Rejected

Iran’s Offer to Expand Sri Lanka’s Oil Refinery Rejected

Jul 16, 2011 at 19:20 | Charles Kennedy

The Sri Lankan government has rejected Iran’s offer to assist in expanding the island’s Sapugaskanda oil refinery capacity from 50,000 to 100,000 barrels per day over a dispute on the…

Belarus Selling off its Energy Assets to Russian Firms

Belarus Selling off its Energy Assets to Russian Firms

Jul 16, 2011 at 13:12 | Joao Peixe

The handwriting on the wall of the parlous state of the Belarus economy, which in the past two decades has signally failed to reform itself, has become evident in Minsk’s…

China to Keep Rare Earths Export Quota at 2010 Levels

China to Keep Rare Earths Export Quota at 2010 Levels

Jul 15, 2011 at 20:05 | Joao Peixe

Seeking to quell fears among its trading partners, Beijing has announced that it will keep its 2011 rare earths export quota at 2010 levels. China currently supplies 97 percent…

Nigerian-Chinese Trade Soars

Nigerian-Chinese Trade Soars

Jul 15, 2011 at 20:04 | Charles Kennedy

Nigeria's total trade investments with China for 2011 now total $8.2 billion, compared to their 2010 level of $7.7 billion, according to China’s Economic and Commercial Counselor at its embassy…

Iraqi Militants Threaten Kuwaiti Port Development

Iraqi Militants Threaten Kuwaiti Port Development

Jul 14, 2011 at 21:37 | Charles Kennedy

Kuwait is seeking to construct the Great Mubarak Port on its Bubyan Island on the Khor Abdullah inlet at the mouth of the Persian Gulf, with the new facility incorporating…

Argentina’s Largest Oil Company Joins Colombia’s Oil Rush

Argentina’s Largest Oil Company Joins Colombia’s Oil Rush

Jul 14, 2011 at 21:36 | Joao Peixe

Argentina’s Yacimientos Petrolíferos Fiscales, the country’s largest oil company, is investing in Colombia. YPF SA has agreed to partner for exploring for oil in Colombia with Canada’s Alange Energy Corp.,…

China Assisting Pakistan in Upgrading Power Infrastructure

China Assisting Pakistan in Upgrading Power Infrastructure

Jul 14, 2011 at 19:36 | Charles Kennedy

Chinese fiscal assistance is allowing Pakistan to begin rebuilding its energy infrastructure in its portion of the contested Himalayan state, which it labels “Azad Kashmir,” heavily damaged during last year’s…

BP-Azerbaijan Suspends Oil Supplies Via Georgian Supsa Pipeline

BP-Azerbaijan Suspends Oil Supplies Via Georgian Supsa Pipeline

Jul 14, 2011 at 19:29 | Joao Peixe

BP-Azerbaijan, operating the Azeri export pipeline from the Azerbaijan’s Caspian oil export terminal at Baku westwards to the Georgian Black Sea oil terminus at Supsa, has announced that it has…

Vietnamese Energy Insurance Company to Issue IPO

Vietnamese Energy Insurance Company to Issue IPO

Jul 14, 2011 at 19:27 | Charles Kennedy

Vietnam’s Petrolimex Joint Stock Insurance Co., the insurance entity of Vietnam's leading oil product importer, Vietnam National Petroleum Corporation, or Petrolimex, will shortly float a initial public offering stock option…

Major Colombian Oil Pipeline Attacked, Yet Again

Major Colombian Oil Pipeline Attacked, Yet Again

Jul 13, 2011 at 21:23 | Joao Peixe

Colombia’s Cano Limon Coveñas oil pipeline has been attacked yet again, disrupting shipments and causing an oil spill in the Catatumbo river. The leftist Fuerza Armadas Revolucionarias de Colombia, or…

Iran to Invest $18 Billion in the Country’s Southern Oilfields

Iran to Invest $18 Billion in the Country’s Southern Oilfields

Jul 13, 2011 at 21:21 | Charles Kennedy

Despite the crippling effect of foreign sanctions, the Iranian government has decided to invest $18 billion in the country’s southern oilfields to boost production. Iran's Deputy Oil Minister for Planning…

New Thai Government Urged to Review and Modify Energy Policies

New Thai Government Urged to Review and Modify Energy Policies

Jul 13, 2011 at 19:54 | Charles Kennedy

Thailand’s new Prime Minister-elect Yingluck Shinawatra is being urged to review the country’s energy policies. Thailand’s current energy sources are a mixture of everything from hydroelectric facilities to coal-fired thermal…

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