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News

Political Infighting in UK Government Leads to Higher Consumer Energy Bills

Political Infighting in UK Government Leads to Higher Consumer Energy Bills

Nov 22, 2012 at 17:03 | James Burgess

Damian Carrington, the author of the Guardian’s environment blog, recently spoke to an undisclosed senior executive from a major UK energy investment firm about the state of the UK…

South Korean Consortium Acquires 40% Stake in Abu Dhabi Oil Fields

South Korean Consortium Acquires 40% Stake in Abu Dhabi Oil Fields

Nov 22, 2012 at 17:01 | Joao Peixe

The Ministry of Knowledge Economy, part of the South Korean government, announced at the beginning of the week that a consortium of oil companies from the country had signed a…

DESERTEC in Trouble as Bosch, Siemens, and Spain Pull Out

DESERTEC in Trouble as Bosch, Siemens, and Spain Pull Out

Nov 21, 2012 at 17:15 | Joao Peixe

DESERTEC is a hugely ambitious plan to supply Europe with 15% of its energy requirements from renewable sources, mostly concentrated solar power plants, based in Northern Africa and connected to…

Brent Looks Set to Replace WTI as the International Benchmark for Oil

Brent Looks Set to Replace WTI as the International Benchmark for Oil

Nov 21, 2012 at 17:14 | Joao Peixe

For years WTI has been the global benchmark for oil, yet now it seems as though Brent will finally overtake it and become the hedge of choice for investors around…

Why Oil Markets Should Keep a Close Eye on the Syrian Conflict

Why Oil Markets Should Keep a Close Eye on the Syrian Conflict

Nov 21, 2012 at 17:13 | Joao Peixe

The various conflicts and standoffs littered across the Middle East are affecting global oil markets to varying degrees. Lately the deteriorating situation in the Gaza strip between Israel and Palestine…

Gulf of Mexico Platform Explosion Caused by Hot Work

Gulf of Mexico Platform Explosion Caused by Hot Work

Nov 21, 2012 at 17:12 | Charles Kennedy

Investigations continue into the explosion that occurred on the West Delta 32 platform in the Gulf of Mexico on Friday morning.Initial theories point to the possibility that a…

California's Shale Formation is Four Times as Large as the Bakken

California's Shale Formation is Four Times as Large as the Bakken

Nov 20, 2012 at 17:27 | Joao Peixe

Perhaps one of the more overlooked aspects of the International Energy Agency’s (IEA) recent World Energy Outlook 2012 and its detailed analysis of the US hydrocarbon potential, is the dilemma…

Billionaire Investors George Soros and John Paulson Load up on Gold

Billionaire Investors George Soros and John Paulson Load up on Gold

Nov 20, 2012 at 17:26 | Joao Peixe

The famous, billionaire investor George Soros has just recently invested millions of dollars into gold bullion, leaving other investors wary of his view of the US economic recovery; Forbes Magazine…

Iran Accuses Saudi Arabia of Exploring for Oil in Prohibited Border Region

Iran Accuses Saudi Arabia of Exploring for Oil in Prohibited Border Region

Nov 20, 2012 at 17:25 | Joao Peixe

Political relations throughout the Middle East seem to be worsening on an almost daily basis. One situation of particular concern is the deteriorating relationship between Iran and Saudi Arabia.

Trader Sentenced to Seven Years in Prison for $2.3 Billion Loss on Illegal Trade

Trader Sentenced to Seven Years in Prison for $2.3 Billion Loss on Illegal Trade

Nov 20, 2012 at 17:23 | James Burgess

Kweku Adoboli, the ex-UBS AG trader, who caused $2.3 billion in losses for his bank due to illegal, unauthorised trading (the largest in British history), has been sentenced to seven…

1,200 New Coal Plants Planned for Construction Around the World

1,200 New Coal Plants Planned for Construction Around the World

Nov 20, 2012 at 17:16 | Charles Kennedy

A new report by the World Resource Institute (WRI), titled “Global Coal Risk Assessment: Data Analysis and Market Research”, claims to be the most comprehensive of its kind that…

America's Power Grid Vulnerable to Terrorist Attacks

America's Power Grid Vulnerable to Terrorist Attacks

Nov 19, 2012 at 11:48 | Al Fin

Terrorists could black out large segments of the United States for weeks or months by attacking the power grid and damaging hard-to-replace components that are crucial to making it work,…

Gazprom's Grip on Europe Slips as the Shale Revolution Grows

Gazprom's Grip on Europe Slips as the Shale Revolution Grows

Nov 16, 2012 at 17:04 | Charles Kennedy

Gazprom’s once solid grip on Europe is slowly, but inexorably, slipping as the shale gas revolution continues to grow in the US, and spread out to other parts of the…

OPEC Finally Acknowledges the Importance of US Shale Oil

OPEC Finally Acknowledges the Importance of US Shale Oil

Nov 16, 2012 at 17:03 | Joao Peixe

Whilst some, most notably the IEA, claim that shale oil will help the US become the largest oil producer in the world, OPEC has never really acknowledged the significance of…

The Non-Renewable Secret at the Heart of the Wind Energy Industry

The Non-Renewable Secret at the Heart of the Wind Energy Industry

Nov 16, 2012 at 17:01 | James Burgess

Despite the incredibly low prices of solar photovoltaic panels, wind energy remains the fastest growing renewable sector. However it has one decidedly un-renewable secret at its core; it is built…

Qatar Holding LLC has Agreed to Glencore's Takeover of Xstrata

Qatar Holding LLC has Agreed to Glencore's Takeover of Xstrata

Nov 16, 2012 at 17:00 | Joao Peixe

Glencore International Plc’s $31 billion takeover bid for Xstrata Plc has now been supported by Qatar Holding LLC, in a move that almost guarantees the success of the bid. Qatar…

BP Pleads Guilty to Criminal Charges in Deepwater Horizon Case

BP Pleads Guilty to Criminal Charges in Deepwater Horizon Case

Nov 15, 2012 at 16:58 | Charles Kennedy

Headway is finally being made in the case against BP (NYSE.BP) over the Deepwater Horizon spill which occurred in 2010.BP has pleaded guilty to criminal charges and agreed…

Could NDAA be the Death of Biofuels in America?

Could NDAA be the Death of Biofuels in America?

Nov 15, 2012 at 16:57 | Joao Peixe

The US military is one of the most important developers of new technologies leading them to a point where they can be released onto the market for public and private…

Report Suggests Closing 353 US Coal Plants which are Too Uneconomical to Run

Report Suggests Closing 353 US Coal Plants which are Too Uneconomical to Run

Nov 15, 2012 at 16:55 | Joao Peixe

The Union of Concerned Scientists (UCS), a nonprofit science advocacy group based in the United States, has written a report that analyses America’s coal power plants and determines that 353…

Global Wind Energy Outlook: The Future of the Wind Industry

Global Wind Energy Outlook: The Future of the Wind Industry

Nov 15, 2012 at 16:54 | James Burgess

The Global Wind Energy Council (GWEC) has just released its Global Wind Energy Outlook report for 2012, in which it has studied a number of different, varying scenarios for…

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