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News

Pakistani Energy Minister who Embezzled $850 Million, Arrested in Abu Dhabi

Pakistani Energy Minister who Embezzled $850 Million, Arrested in Abu Dhabi

Jan 30, 2013 at 16:47 | Joao Peixe

During his time as Pakistan’s head of the Oil and Gas Regulatory Authority between 2009 and 2011, Tauqir Shariq embezzled around $850 million.Before he could be captured and…

Argentina can Only Look on as Falkland Islands Set to Produce Hydrocarbons

Argentina can Only Look on as Falkland Islands Set to Produce Hydrocarbons

Jan 29, 2013 at 16:52 | Joao Peixe

Borders and Southern Petroleum (BOR: LN), the British oil exploration company, yesterday announced that the reserve of gas condensate it discovered in the Falkland Islands back in April 2012 is…

Three Major Car Companies Join to Accelerate Development of Fuel Cells of EVs

Three Major Car Companies Join to Accelerate Development of Fuel Cells of EVs

Jan 29, 2013 at 16:50 | Joao Peixe

The fuel cell electric vehicles (FCEV) sector has received a boost with the announcement that Ford, Renault-Nissan, and Daimler have made a three-way agreement to work together and accelerate the…

Wind Overtakes Nuclear to Become China's 3rd Largest Energy Source

Wind Overtakes Nuclear to Become China's 3rd Largest Energy Source

Jan 29, 2013 at 16:48 | Charles Kennedy

According to data from the China Wind Energy Association (CWEA), wind energy capacity has now surpassed nuclear power to become the third largest source of electricity in China, after coal,…

Ecuadorian Judge Says Plaintiffs Bribed the Court in Chevron Case

Ecuadorian Judge Says Plaintiffs Bribed the Court in Chevron Case

Jan 29, 2013 at 16:47 | James Burgess

On Monday Chevron submitted new evidence to their Manhattan lawsuit to appeal against the $19 billion charges levied against them for their involvement in the pollution of the Ecuadorian rainforest.

ExxonMobil Overtakes Apple to Become the World's Largest Company

ExxonMobil Overtakes Apple to Become the World's Largest Company

Jan 28, 2013 at 16:43 | Joao Peixe

A year after it took the mantle of the world’s most valuable company from ExxonMobil (NYSE: XOM), Apple Inc. (NASDAQ: AAPL) had to hand it back following several difficult weeks…

U.S. to Bury its 70,000 Tonnes of Nuclear Waste

U.S. to Bury its 70,000 Tonnes of Nuclear Waste

Jan 28, 2013 at 16:42 | Joao Peixe

Oak Ridge National Laboratory has released a recent study which has determined that if and when the US ever decides to actually pursue the technology to recycle nuclear waste, it…

Russia Claims Ukraine Owes it $7 Billion for Natural Gas it Never Used in 2012

Russia Claims Ukraine Owes it $7 Billion for Natural Gas it Never Used in 2012

Jan 28, 2013 at 16:41 | James Burgess

Russia has calculated that Ukraine owes it $7 billion for gas imports that it was contractually obliged to pay yet never took delivery of in 2012.It is probably…

Chernobyl's Role in the Fall of the Soviet Union

Chernobyl's Role in the Fall of the Soviet Union

Jan 28, 2013 at 16:39 | Charles Kennedy

The Soviet Union was destroyed by a nuclear explosion, an idea that is supported by non-other than Mikhail Gorbachev himself, the architect of its dismantling.On the 26th of…

Iraq v Kurdistan: Exxon Try to Play Both Sides of the Table

Iraq v Kurdistan: Exxon Try to Play Both Sides of the Table

Jan 25, 2013 at 16:54 | Joao Peixe

Officials in Baghdad have always stated that any company that arranges oil exploration contracts with the Kurdistan Regional Government (KRG) to the North will not be allowed to work in…

Solar Powered Planes Set to Bring Help to the World's Remote Locations

Solar Powered Planes Set to Bring Help to the World's Remote Locations

Jan 25, 2013 at 16:54 | James Burgess

There are many places in the world where the infrastructure does not exist to allow easy access, yet access is still required. Many remote ecosystems which support endangered species must…

Venezuela Sees Foreign Investment in Oil Fall in Political Vacuum Left by Chavez

Venezuela Sees Foreign Investment in Oil Fall in Political Vacuum Left by Chavez

Jan 25, 2013 at 16:52 | Joao Peixe

Due to the political vacuum left by Hugo Chavez’s absence whilst he battles cancer behind closed doors, Venezuela’s oil industry has experienced the first decline in foreign investment in five…

Britain Excited by Potential Oil and Gas Boom in the North Sea

Britain Excited by Potential Oil and Gas Boom in the North Sea

Jan 25, 2013 at 16:51 | Charles Kennedy

Over the years the estimates of untapped reserves in the North Sea have increased, and just recently the British Secretary of State for Energy and Climate Change, Ed Davey, announced…

US Company Uses Fracking Technique to Extract Uranium

US Company Uses Fracking Technique to Extract Uranium

Jan 24, 2013 at 16:42 | James Burgess

The US is obsessed with achieving energy independence and reducing its reliance on foreign oil, yet Amir Adnani, the CEO of Uranium Energy Corp. (UEC) in Texas, has stated that…

Electric Bike Completes 80 Day Trip Around the World for $400

Electric Bike Completes 80 Day Trip Around the World for $400

Jan 24, 2013 at 16:41 | Joao Peixe

An electric motorcycle known as the Zerotracer has recently completed an 80 day trip around the world, which it completed for a cost of just $400, making it the world’s…

Shell and Ukraine Finalize $10 Billion Shale Gas Contract

Shell and Ukraine Finalize $10 Billion Shale Gas Contract

Jan 24, 2013 at 16:40 | Charles Kennedy

Ukraine has very nearly stepped out from under the shadow of Russia and its dependency on Natural gas supplies from Gazprom, by today signing a $10 billion deal to develop…

US Fracking Rigs Quickly Moving Away from Diesel to Nat Gas

US Fracking Rigs Quickly Moving Away from Diesel to Nat Gas

Jan 24, 2013 at 16:39 | Joao Peixe

More and more fracking drill rigs are converting to run on natural gas in preference to diesel, with the biggest affirmation of this being Apache Corp’s (NYSE:APA) announcement to power…

Medvedev Announces that Novatek may soon Break Gazprom's Monopoly

Medvedev Announces that Novatek may soon Break Gazprom's Monopoly

Jan 23, 2013 at 16:27 | James Burgess

Back in 2006 Russian President Vladimir Putin gave the state controlled natural gas company Gazprom the exclusive rights to export its product in an attempt to prevent competition from domestic…

Can OPEC Maintain High Oil Prices into the Future?

Can OPEC Maintain High Oil Prices into the Future?

Jan 23, 2013 at 16:26 | Joao Peixe

OPEC is probably the single most powerful organisation in the oil industry, able to influence the price of oil to help its member states; however a review by Bassam Fattouh…

Obama Once Again Delays Keystone XL Decision

Obama Once Again Delays Keystone XL Decision

Jan 23, 2013 at 16:25 | Charles Kennedy

In an ever increasing show of cowardice President Barack Obama has once again avoided making any decision about the fate of the Keystone XL pipeline, instead deciding to delay his…

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