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News

Pemex Sue Siemens over Charges of Bribery

Pemex Sue Siemens over Charges of Bribery

Dec 14, 2012 at 16:15 | James Burgess

Pemex, the state-owned Mexican oil company, has sued Siemens SG (NYSE:SI) and the South Korean Engineering & Construction Co. Ltd. for $500 million over claims of racketeering violations.Allegations…

Businesses Asked to Phase out Diesel Vehicles due to Health Fears in London

Businesses Asked to Phase out Diesel Vehicles due to Health Fears in London

Dec 14, 2012 at 16:14 | Joao Peixe

A new report from the London Assembly’s Health and Environment Committee shows the health impacts of pollution within the city. Pollution, mainly produced by diesel vehicles, has been linked to…

America's Denial Damages Climate Change Efforts

America's Denial Damages Climate Change Efforts

Dec 14, 2012 at 16:13 | Editorial Dept

Given safe haven from the impact of climate change by their privilege and wealth, the decision-making elite of the US has no intention of making the sacrifices that could lessen…

Final Turbine Now Installed at World's Largest Offshore Wind Farm

Final Turbine Now Installed at World's Largest Offshore Wind Farm

Dec 14, 2012 at 15:13 | Joao Peixe

The London Array Offshore Wind Farm, the world’s largest offshore wind farm, has entered the final stages of its installation with the construction of the 125th, and final, turbine.

BP Invited to Bid on UAE Oil Concession

BP Invited to Bid on UAE Oil Concession

Dec 13, 2012 at 16:44 | Charles Kennedy

BP, who owns a 9.5 percent stake in the Abu Dhabi National Oil Company (ADCO) concession which is set to be renewed in 2014, was surprisingly left out of the…

Dash for Gas could Add £600 to UK Energy Bills

Dash for Gas could Add £600 to UK Energy Bills

Dec 13, 2012 at 16:44 | James Burgess

A week ago Chancellor George Osborne announced new tax breaks for shale gas and plans to develop as much as 37GW of new capacity.The Committee on Climate Change…

DuPont Begin Construction on Giant Cellulosic Biorefinery

DuPont Begin Construction on Giant Cellulosic Biorefinery

Dec 13, 2012 at 16:43 | Joao Peixe

DuPont, the giant chemical company, has begun construction on what will become the first and largest cellulosic ethanol biorefinery in the world.The $200 million facility will be constructed…

UK Regulators Approve EDF Energy's New Nuclear Reactor Designs

UK Regulators Approve EDF Energy's New Nuclear Reactor Designs

Dec 13, 2012 at 16:42 | Joao Peixe

The UK Office for Nuclear Regulation and the Environment Agency have just approved the designs for a new type of nuclear reactor which has been designed by the French engineering…

Shareholders Jump Ship as Gazprom Pays for Putin's Political Priorities

Shareholders Jump Ship as Gazprom Pays for Putin's Political Priorities

Dec 12, 2012 at 16:52 | Charles Kennedy

Bloomberg has estimated that Gazprom (OGZPY) will beat Exxon Mobil (NYSE:XOM) this year to become the most profitable energy company in the world; earning $37.9 billion. Yet despite this remarkable…

Norway Begin Testing Thorium in Nuclear Reactors

Norway Begin Testing Thorium in Nuclear Reactors

Dec 12, 2012 at 16:51 | Joao Peixe

Norway is the biggest oil producer in Europe, and the 13th largest producer in the world, yet this fact does not stop it from pursing an alternative source of energy…

Why Achieving Energy Independence will Change Nothing for the US

Why Achieving Energy Independence will Change Nothing for the US

Dec 12, 2012 at 16:50 | Joao Peixe

According to the IEA’s World Energy Outlook 2012, the US will become a net energy exporter by 2035, due to technological developments which have increased the extraction efficiency of both…

Iran's Stock Exchange Rally's Despite Contracting Economy

Iran's Stock Exchange Rally's Despite Contracting Economy

Dec 12, 2012 at 16:49 | James Burgess

Western sanctions have severely restricted certain important sectors in the Iranian economy, leading to a weak currency, high unemployment, and a double-digit inflation rate. Yet despite the contraction of the…

Tanker Rates Rise to Four Year High, as Demand for Naphtha Increases

Tanker Rates Rise to Four Year High, as Demand for Naphtha Increases

Dec 11, 2012 at 16:35 | Joao Peixe

Rising demand from Asia for naphtha, a product refined from crude oil and essential for the production of most types of plastic, along with a shortage in the number of…

India Signs Deal with Iran to Develop its Renewable Energy Sector

India Signs Deal with Iran to Develop its Renewable Energy Sector

Dec 11, 2012 at 16:34 | Joao Peixe

Yousef Armodeli, the chief of the Iranian Renewable Energy Organisation (SUNA) has announced that India have signed an agreement to invest in Iran’s renewable energy sector with the construction of…

Fresno, Cali. Announced as America's Dirtiest City

Fresno, Cali. Announced as America's Dirtiest City

Dec 11, 2012 at 16:33 | James Burgess

A study of US cities has named the Dirtiest City in America as Fresno, California. The Central Valley city can share its shame with other Californian neighbours such as Modesto,…

Is Mongolia's Resource Boom on the Brink of Collapse?

Is Mongolia's Resource Boom on the Brink of Collapse?

Dec 11, 2012 at 16:31 | Charles Kennedy

Mongolia was the world’s fastest growing economy last year, driven by foreign investment and rapid developments in its rich coal, copper and gold mining sectors. Now it looks like all…

Mervin King Warns of Global Currency Wars

Mervin King Warns of Global Currency Wars

Dec 11, 2012 at 16:29 | Editorial Dept

The head of the Bank of England warned on Monday that too many countries were trying to weaken their currencies to offset the impact of the slow global economy and…

The Cover Up: E-mails Show BP Lied to Authorities on The Deepwater Horizon Spill

The Cover Up: E-mails Show BP Lied to Authorities on The Deepwater Horizon Spill

Dec 10, 2012 at 16:55 | Charles Kennedy

BP has always claimed that it shared all information with the public and with the federal government about the extent of the Deepwater Horizon oil spill, and the rate of…

How the Koch Brothers Manipulate Climate Change Studies

How the Koch Brothers Manipulate Climate Change Studies

Dec 10, 2012 at 16:54 | Joao Peixe

The Koch brothers, Charles and David, are the billionaire owners of Koch Industries, and two of the most obstinate climate change deniers out there.It actually turns out that…

CNOOC Given Green Light for $15.1 Billion Takeover of Nexen Inc.

CNOOC Given Green Light for $15.1 Billion Takeover of Nexen Inc.

Dec 10, 2012 at 16:53 | Joao Peixe

After months of deliberation Canada’s Prime Minister, Stephen Harper, has approved CNOOC’s $15.1 billion takeover of Nexen Inc.The deal will be largest stake in a foreign company that…

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