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News

Indian Government will Invest $4.1 Billion to Encourage EV and Hybrid Sales

Indian Government will Invest $4.1 Billion to Encourage EV and Hybrid Sales

Sep 04, 2012 at 17:14 | Charles Kennedy

Recent research by the Indian government shows that over the next eight years there will be a national demand for 5 to 7 million electric vehicles, driven by the desire…

Bankers and Economists Fail to Understand Why the Economy isn't Growing

Bankers and Economists Fail to Understand Why the Economy isn't Growing

Sep 04, 2012 at 17:13 | Editorial Dept

Central bankers debating the limits of power in Jackson Hole are wondering what's holding back the economy. "What is holding the economy back? Why is it that we've had…

Canada Warns that Anonymous May Attack Oil Sands Energy Companies

Canada Warns that Anonymous May Attack Oil Sands Energy Companies

Sep 03, 2012 at 17:36 | Joao Peixe

According to documents that have recently been obtained by Bloomberg News this month, the Royal Canadian Mounted Police (RCMP), Public Safety Department, and Communications Security Establishment Canada, have all investigated…

Oil Companies Start Retaking Oil Rigs Abandoned Ahead of Hurricane Isaac

Oil Companies Start Retaking Oil Rigs Abandoned Ahead of Hurricane Isaac

Sep 03, 2012 at 17:35 | Charles Kennedy

Following the evacuation and abandonment of 596 oil platforms in the Gulf of Mexico ahead of Hurricane Isaac, 377 are now manned once more, although oil and natural gas production…

NASA to Create Robotic Drilling Rig

NASA to Create Robotic Drilling Rig

Sep 03, 2012 at 17:33 | James Burgess

Robotic Drilling Systems AS is a Norwegian based company that has just signed a deal with NASA which will help it in its dream of developing a fully automated drilling…

Residents Ordered to Evacuate as Dam in Louisiana Threatens Imminent Collapse

Residents Ordered to Evacuate as Dam in Louisiana Threatens Imminent Collapse

Sep 03, 2012 at 17:33 | James Burgess

Whilst much of the US is facing the worst drought in 50 years, another part is suffering the effects of too much water.Torrential rains caused by Hurricane Isaac…

Who is to Blame for the Collapse of the Middle Class?

Who is to Blame for the Collapse of the Middle Class?

Sep 03, 2012 at 17:32 | Editorial Dept

Since 2000, the middle class has shrunken in size. It has fallen backward in income and wealth, and shed some—but by no means all—of its characteristic faith in the future.

Greek Oil Tanker Robbed and Released off Togo

Greek Oil Tanker Robbed and Released off Togo

Aug 31, 2012 at 17:17 | Joao Peixe

Pirates hijacked a Greek-operated oil tanker off the coast of Togo and stole 3,000 tons of oil cargo, releasing the ship back to the captain on Thursday, news agencies reported.…

Russian Oligarch Battle over Sibneft Concludes in London

Russian Oligarch Battle over Sibneft Concludes in London

Aug 31, 2012 at 17:08 | Charles Kennedy

Russian oligarch Roman Abramovich has won a $6.8 billion lawsuit stemming from allegations that he bullied fellow oligarch Boris Berezovsky into selling shares at below market prices in Russian oil…

South Sudan a Year Away from Full Oil Production

South Sudan a Year Away from Full Oil Production

Aug 31, 2012 at 17:06 | Charles Kennedy

Officials in Juba, South Sudan, told media this week that it will take up to a year to restart full oil production due to damage caused to hydrocarbon infrastructure during…

India's Esser Oil Increases Iranian Imports

India's Esser Oil Increases Iranian Imports

Aug 31, 2012 at 17:05 | Joao Peixe

India’s privately owned Esser Oil has reportedly increased imports of Iranian oil by one-third in July and has renewed its deal with Iran for the purchase of 100,000 bdp in…

US Targets Mexican Oil Company Linked to Drug Cartel

US Targets Mexican Oil Company Linked to Drug Cartel

Aug 30, 2012 at 18:57 | Joao Peixe

US companies and individuals have been prohibited from doing business with Mexican oil company ADT Petroservicios and the company’s US assets have been frozen due to owner Francisco Antonio Colorado…

Hurricane Isaac Prompts Natural Gas Rally

Hurricane Isaac Prompts Natural Gas Rally

Aug 30, 2012 at 18:55 | Charles Kennedy

Wednesday saw natural gas futures up nearly 1% on news that Hurricane Isaac would push more production offline and potentially damage the natural gas infrastructure in the affected region. Nearly…

Saudi Oil Giant Recoups after Virus Attack

Saudi Oil Giant Recoups after Virus Attack

Aug 30, 2012 at 18:54 | Charles Kennedy

Saudi Aramco, Saudi Arabia’s state-owned oil giant, has recovered, with its 30,000 computers back online after a major computer virus apparently launched by a group called the Cutting Sword of…

Syria Trumps Iran's Nuclear Program at Tense NAM Summit

Syria Trumps Iran's Nuclear Program at Tense NAM Summit

Aug 30, 2012 at 18:53 | Charles Kennedy

During the summit of the Non-Aligned Movement (NAM) in Tehran, Iranian Supreme Leader Ayatollah Ali Khamenei told the 120 state leaders gathered that Iran had no intention of pursuing nuclear…

Massive Oil Find in Mexico's Deep Waters

Massive Oil Find in Mexico's Deep Waters

Aug 30, 2012 at 18:52 | Joao Peixe

Mexico’s state-owned Pemex oil has announced a major oil discovery in the deep waters of the Gulf of Mexico that Mexican President Felipe Calderon is touting as promising one-third of…

Scotland Offers £10m Prize for Renewable Energy Projects

Scotland Offers £10m Prize for Renewable Energy Projects

Aug 30, 2012 at 09:45 | Charles Kennedy

Four Scottish renewable energy companies are competing for a £10m Saltire Prize for the development of wave and tidal energy devices in Scottish waters. ScottishPower Renewables, Aquamarine Power, Pelamis Wave…

GM Temporarily Halts Volt Production over Low Sales

GM Temporarily Halts Volt Production over Low Sales

Aug 29, 2012 at 16:23 | Charles Kennedy

US automaker General Motors Co. has announced it will halt production of the Chevrolet Volt electric car for four weeks, citing the car’s failure to meet targeted sales projections, according…

Analysts Predict Draw from US Strategic Reserves over Storm Isaac

Analysts Predict Draw from US Strategic Reserves over Storm Isaac

Aug 29, 2012 at 16:22 | Charles Kennedy

As gas prices continued to climb yesterday, industry analysts are predicting the increasing likelihood that the US will draw from its strategic oil and gas reserves in the face of…

Gazprom Signs South Stream Pipeline Agreement with Bulgaria

Gazprom Signs South Stream Pipeline Agreement with Bulgaria

Aug 29, 2012 at 16:21 | Charles Kennedy

Russian Gazprom on Monday signed an agreement for the construction of the Bulgarian section of its South Stream gas pipeline with Bulgaria’s National Energy Holdings. Gazprom Deputy CEO…

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