Peak oil http://www.globalpost.com/taxonomy/term/26131/all en COLUMN-Tide of resource nationalism begins to ebb: Kemp http://www.globalpost.com/dispatch/news/thomson-reuters/130115/column-tide-resource-nationalism-begins-ebb-kemp <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By John Kemp</p> <p>LONDON, Jan 15 (Reuters) - For a decade, the oil industry has worried about rising resource nationalism in producing countries. Host governments have imposed tougher terms, demanded bigger exploration bonuses and extracted a higher share of revenues, in some cases expropriating foreign oil companies when they failed to develop new fields fast enough.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130115/column-tide-resource-nationalism-begins-ebb-kemp" target="_blank">read more</a></p> Business Peak oil Petroleum Shale gas Technology Thomson Reuters Tue, 15 Jan 2013 13:00:40 +0000 5734682 at http://www.globalpost.com UK gas market glut triggers wider price slump http://www.globalpost.com/dispatch/news/thomson-reuters/130118/uk-gas-market-glut-triggers-wider-price-slump <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Milder weather forecast adds downward pressure</p> <p>* Mid-range storage faces risk of running dry</p> <p>* UK oversupplied by 43 mcm, or 11 pct of demand</p> <p>LONDON, Jan 18 (Reuters) - British prompt gas prices on Friday morning slumped as the network struggled to deal with a glut of supply from Norway and Europe while demand fell due to revised weather forecasts.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130118/uk-gas-market-glut-triggers-wider-price-slump" target="_blank">read more</a></p> Broadcasting Business Disaster Entertainment Peak oil Social Issues Weather forecasting Thomson Reuters Fri, 18 Jan 2013 11:15:24 +0000 5736054 at http://www.globalpost.com UPDATE 2-Mexico says gas leak caused deadly Pemex blast http://www.globalpost.com/dispatch/news/thomson-reuters/130205/update-1-mexico-says-gas-leak-caused-deadly-pemex-blast <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Gas, probably methane, accumulated in basement</p> <p>* Pemex plagued by accidents for years</p> <p>* Government pushing for major energy sector overhaul</p> <p>By Lorena Segura</p> <p>MEXICO CITY, Feb 4 (Reuters) - The Mexican government said on Monday that a gas leak caused a blast that killed at least 37 people at the offices of state oil monopoly Pemex in Mexico City, raising fresh questions about the firm's safety record.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130205/update-1-mexico-says-gas-leak-caused-deadly-pemex-blast" target="_blank">read more</a></p> Business Energy in Mexico Mexico Peak oil Pemex Pemex Thomson Reuters Tue, 05 Feb 2013 06:30:12 +0000 5746043 at http://www.globalpost.com UK gas prices remain high on cold weather http://www.globalpost.com/dispatch/news/thomson-reuters/130312/uk-gas-prices-remain-high-cold-weather <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Gas storage depleted to under 20 pct</p> <p>* Within-day gas prices rise to 93 p/th</p> <p>* Summer 2013 gas price close to 18 month high</p> <p>* Weather to get gradually warmer - Met Office</p> <p>LONDON, March 12 (Reuters) - British wholesale spot gas prices rose above 90 pence a therm on Tuesday morning as extreme cold pushed up demand and further reduced already far depleted gas storage levels.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130312/uk-gas-prices-remain-high-cold-weather" target="_blank">read more</a></p> Natural gas storage Peak oil Therm Thomson Reuters Tue, 12 Mar 2013 09:15:35 +0000 5780448 at http://www.globalpost.com S Korean firm-Jordan oil development http://www.globalpost.com/dispatch/taxonomy/term/39093/130312/s-korean-firm-jordan-oil-development <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Yonhap News Agency </div> </div> </div> <!--paging_filter--><p>By Byun Duk-kun</p> <p>SEOUL, March 8 (Yonhap) -- A South Korean oil developer has signed an official deal with the Jordanian government to explore and develop a vast oil field in the Middle Eastern country, the company said Friday.</p> <p>The production sharing agreement (PSA) was approved by Jordan's Cabinet on Sunday, an official from the Korea Global Energy Corp. (KGEC) said.</p> <p>The agreement still needs to be ratified by Jordan's parliament.</p> <p><a href="http://www.globalpost.com/dispatch/taxonomy/term/39093/130312/s-korean-firm-jordan-oil-development" target="_blank">read more</a></p> Asia Fertile Crescent oil Peak oil Technology Yonhap News Agency Tue, 12 Mar 2013 20:18:55 +0000 5781521 at http://www.globalpost.com KNOC-Iraq oil discovery http://www.globalpost.com/dispatch/news/yonhap-news-agency/130326/knoc-iraq-oil-discovery <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Yonhap News Agency </div> </div> </div> <!--paging_filter--><p>SEOUL, March 27 (Yonhap) -- A joint oil exploration project by South Korea's state-run oil company in Iraq has discovered "significant amounts" of oil in the Middle Eastern country's northern Kurdish region, the company said Wednesday.</p> <p>The discovery was made at Hawler minefield, in which Switzerland's Oryx Petroleum has a 65-percent stake, according to the Korea National Oil Corp. (KNOC). The KNOC has a 15-percent stake in the exploration minefield with the remaining 20 percent owned by the Kurdish government.</p> <p><a href="http://www.globalpost.com/dispatch/news/yonhap-news-agency/130326/knoc-iraq-oil-discovery" target="_blank">read more</a></p> Fertile Crescent Geography of Iraq Korea National Oil Corp oil Peak oil Yonhap News Agency Wed, 27 Mar 2013 01:46:23 +0000 5794882 at http://www.globalpost.com British gas production outages keep prices high http://www.globalpost.com/dispatch/news/thomson-reuters/130327/british-gas-production-outages-keep-prices-high <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>LONDON (Reuters) - British wholesale gas prices remained high in volatile trading on Wednesday, as several production outages restricted supplies to the system amid high demand and low stored reserves.</p> <p>"The market is choppy.. if something drops off the network people get very nervous," a trader from a European utility said.</p> <p>The price of gas for Thursday delivery rose 1.25 pence to 99 pence per therm, due to high demand caused by cold weather and gas for immediate delivery rose 0.25 pence to 98.75 pence.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130327/british-gas-production-outages-keep-prices-high" target="_blank">read more</a></p> Energy crisis Natural gas storage Peak oil Thomson Reuters Wed, 27 Mar 2013 13:01:12 +0000 5795253 at http://www.globalpost.com Xcite seeks partner for Bentley field as reserves rise http://www.globalpost.com/dispatch/news/thomson-reuters/130408/xcite-seeks-partner-bentley-field-reserves-rise <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>LONDON (Reuters) - Oil company Xcite Energy &lt;XELL.L&gt; said it would seek a partner to help fund the development of the Bentley field in the North Sea after an independent report showed it contained more oil than previously thought.</p> <p>Xcite said on Monday that it would start evaluating suitable partners and also try to increase its borrowing facilities to secure funding for a project to get oil pumping from the field.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130408/xcite-seeks-partner-bentley-field-reserves-rise" target="_blank">read more</a></p> Oil reserves Peak oil Technology Xcite Energy Thomson Reuters Mon, 08 Apr 2013 07:15:25 +0000 5805286 at http://www.globalpost.com Iraq ups proven oil reserves to 150 billion barrels http://www.globalpost.com/dispatch/news/afp/130410/iraq-ups-proven-oil-reserves-150-billion-barrels <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Iraq's proven oil reserves have increased to 150 billion barrels, up from a previous figure of 143.1 billion barrels, oil ministry spokesman Assem Jihad said on Wednesday.</p> <p>"Thanks to the work of the ministry of oil and exploration contracts awarded to energy companies these past two years," Iraq now has reserves of 150 billion barrels of oil, Jihad told AFP.</p> <p>He added that the new figure would likely rise in future as further exploration work is done.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130410/iraq-ups-proven-oil-reserves-150-billion-barrels" target="_blank">read more</a></p> Asia Oil reserves Peak oil AFP Wed, 10 Apr 2013 15:16:16 +0000 5808925 at http://www.globalpost.com Mozambique government okays new oil law http://www.globalpost.com/dispatch/news/afp/130410/mozambique-government-okays-new-oil-law <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The Mozambican government has approved a draft of a new petroleum law which will see communities get a slice of the country's oil revenues.</p> <p>The spokesman for the Council of Ministers, Alberto Nkutumala, said the decision was taken at a session late on Tuesday.</p> <p>"Of the revenues that result from oil operations in Mozambique, a part shall go to communities that are located in areas where operations take place," said Nkutumala.</p> <p>It is not yet clear what the allocation to local communities would be.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130410/mozambique-government-okays-new-oil-law" target="_blank">read more</a></p> Eni Peak oil Petroleum industry Technology AFP Wed, 10 Apr 2013 16:45:49 +0000 5809083 at http://www.globalpost.com US oil supplies reach new peak amid shale boom http://www.globalpost.com/dispatch/news/afp/130501/us-oil-supplies-reach-new-peak-amid-shale-boom <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>US oil stocks reached a new three-decade high and pressed crude prices lower Wednesday, as US oil production continued to surge while domestic demand remained anemic.</p> <p>US commercial stocks stood at 395.3 million barrels for the week ended April 26, the highest weekly inventory figure since the US Energy Information Administration began collecting the data in 1982.</p> <p>The build comes as US crude production has taken off on the rise in exploitation of shale oil and gas deposits.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130501/us-oil-supplies-reach-new-peak-amid-shale-boom" target="_blank">read more</a></p> Measurement Peak oil Petroleum AFP Wed, 01 May 2013 16:30:26 +0000 5829309 at http://www.globalpost.com New gas reserve discovered in southern Pakistan http://www.globalpost.com/dispatch/news/afp/130503/new-gas-reserve-discovered-southern-pakistan <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Pakistan has discovered a new gas reserve in southern Sindh province that would help reduce acute gas shortages for industry and transport, the petroleum ministry said Friday.</p> <p>Italian energy major ENI with joint venture partners Pakistan Petroleum Limited and Kuwait Foreign Petroleum Exploration Company made the discovery in the Kirthar Fold Belt region 270 kilometres (170 miles) north of Karachi.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130503/new-gas-reserve-discovered-southern-pakistan" target="_blank">read more</a></p> Emergency management Energy crisis Peak oil AFP Fri, 03 May 2013 16:03:40 +0000 5830499 at http://www.globalpost.com Prices paid by US importers fell 0.5 per cent in April, pushed lower by cheaper imported oil http://www.globalpost.com/dispatch/news/the-canadian-press/130514/prices-paid-us-importers-fell-05-cent-april-pushed-lower-che <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> The Canadian Press </div> </div> </div> <!--paging_filter--><p>WASHINGTON - Prices paid by U.S. importers fell in April for the second straight month, pushed lower by another decline in imported petroleum. Falling import prices help keep inflation in check.</p> <p>The Labor Department says import prices fell 0.5 per cent last month compared with March, when prices had fallen 0.2 per cent. It was the largest decline since a 0.6 per cent drop in December. Imported petroleum products fell 1.9 per cent in April. Excluding petroleum, import costs fell only 0.1 per cent.</p> <p>Import prices have fallen 2.6 per cent over the 12 months ending in April.</p> <p><a href="http://www.globalpost.com/dispatch/news/the-canadian-press/130514/prices-paid-us-importers-fell-05-cent-april-pushed-lower-che" target="_blank">read more</a></p> Biofuels Labor Peak oil Petroleum politics The Canadian Press Tue, 14 May 2013 18:46:08 +0000 5837730 at http://www.globalpost.com German exporters cut prices on the year for first time since 2009 http://www.globalpost.com/dispatch/news/thomson-reuters/130528/german-exporters-cut-prices-the-year-first-time-2009 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>BERLIN (Reuters) - German exporters slashed their prices year-on-year in April for the first time since 2009 as an economic slowdown and the euro zone crisis weighed on demand for high-quality German goods.</p> <p>Export prices fell by 0.4 percent in April compared with the same period a year earlier - the first time exporters have cut their prices on the year since December 2009 at the height of the financial crisis.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130528/german-exporters-cut-prices-the-year-first-time-2009" target="_blank">read more</a></p> Biofuels Peak oil Recessions Thomson Reuters Tue, 28 May 2013 12:48:08 +0000 5847376 at http://www.globalpost.com BP cuts global gas reserves estimate, mostly for Russia http://www.globalpost.com/dispatch/news/thomson-reuters/130612/bp-cuts-global-gas-reserves-estimate-mostly-russia <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Alex Lawler and Dmitry Zhdannikov</p> <p>LONDON (Reuters) - Oil major BP &lt;BP.L&gt; cut its estimates of global gas reserves steeply on Wednesday, revising Russia's still classified reserves down sharply and putting Iran at the top of the world league table.</p> <p>In its benchmark annual statistical review for 2012, BP put global proven gas reserves at 187.3 trillion cubic meters as of the end of 2012, enough for about 56 years worth of global production at current rates.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130612/bp-cuts-global-gas-reserves-estimate-mostly-russia" target="_blank">read more</a></p> Oil reserves Peak oil Petroleum Technology Thomson Reuters Wed, 12 Jun 2013 17:36:22 +0000 5856446 at http://www.globalpost.com