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Nigeria: There’s No Need for More Oil Wells in Nigeria

Nnimmo Bassey , an award-winning environmentalist, is one of Africa’s leading campaigners, particularly for his work in Nigeria’s oil-rich Niger Delta region. Mr. Bassey was a human rights advocate in the 1980s. He was imprisoned many times by late president Sani Abacha’s government in the 1990s. He is co-founder and chair of Friends of the Earth International and Environmental Rights Action. In 2009, Time magazine named him one of the Heroes of the Environment. In this interview with Yemisi Akinbobola for Africa Renewal, Mr. Bassey discusses the continuing protests by the Niger Delta people against oil pollution and makes the case for compensation. Can you provide some historical context to the struggle in the Niger Delta region? It’s really a long history. The first commercial export of oil was in 1958, but before then there had been some very serious encounters with forces whose major interest was to exploit […]

Posted On : Published By : Tom Whipple
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Nigeria: FG Moves to Privatise Refineries

The Federal Government appears set to privatise the nation’s four refineries in Port-Hacourt, Warri and Kaduna. Mr. Ben Dikki, the Director-General of the Bureau of Public Enterprises, BPE, announced this at a briefing in Abuja, yesterday. He said however, that his team would first secure the cooperation of labour leaders, especially in the oil industry before taking concrete steps in that regard. His words, "it should be noted that the labour unions have expressed their willingness to dialogue with government to develop appropriate business models for the refineries. This will be followed up and should lead to the commencement of the privatization process in 2014. "The steering committee is expected to commence work soon and develop an appropriate framework for privatization that is acceptable to all stakeholders. "The labour leaders have said that they are not averse to the privatization of the refineries. What they want is […]

Posted On : Published By : Tom Whipple
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Drought Tests Brazil's Cool

A drought in Brazil is crimping water and electricity supplies, creating tensions between the country’s two largest cities and raising the prospect of rationing that stands to hurt President Dilma Rousseff’s re-election hopes. The several-week drought in Brazil’s wealthy southeastern region, home to São Paulo and Rio de Janeiro, is the worst in close to 50 years, and has severely depleted the reservoirs in a country that relies on hydroelectric plants for over two-thirds of its power. Ms. Rousseff won the 2010 election while promising to improve the country’s infrastructure—particularly transportation, housing and energy. But the drought—which experts say is likely to lead to power rationing this year—is now weighing on Ms. Rousseff’s expected run in the October elections. "Dilma will try to sweep this issue under the rug for as long as she can," said Adriano Pires, head of Rio-based energy consultancy CBIE. "The government will try […]

Posted On : Published By : Tom Whipple
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Drought Tests Brazil’s Cool

A drought in Brazil is crimping water and electricity supplies, creating tensions between the country’s two largest cities and raising the prospect of rationing that stands to hurt President Dilma Rousseff’s re-election hopes. The several-week drought in Brazil’s wealthy southeastern region, home to São Paulo and Rio de Janeiro, is the worst in close to 50 years, and has severely depleted the reservoirs in a country that relies on hydroelectric plants for over two-thirds of its power. Ms. Rousseff won the 2010 election while promising to improve the country’s infrastructure—particularly transportation, housing and energy. But the drought—which experts say is likely to lead to power rationing this year—is now weighing on Ms. Rousseff’s expected run in the October elections. "Dilma will try to sweep this issue under the rug for as long as she can," said Adriano Pires, head of Rio-based energy consultancy CBIE. "The government will try […]

Posted On : Published By : Tom Whipple
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US New England oil-fired generation averaging 16.2 GWh/day in 2014

Oil-fired power plants in New England have accounted for about 5.3% of total generation in the region so far this year, more than eight times the level during the same period of 2013, according to data grid operator ISO New England published Wednesday. The ISO, which handles electric markets for Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont, showed generation from oil-fired units averaged 16.201 GWh/day through March 24, compared with about 1.991 GWh/d, or 0.6% of total generation, during the comparable period last year. ISO New England’s oil-fired generation has been high this winter because of repeated cold snaps and a grid operator-initiated winter reliability program that provided a number of incentives to use oil to generate electricity. Article continues below… Request a free trial of: Megawatt Daily Megawatt Daily provides detailed coverage of power prices in major US and Canadian electricity […]

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Senate panel reviews prospects for energy exports

The United States is in a unique position to use its energy resources to increase its leverage on the international stage, U.S. Sen. Lisa Murkowski said. Legislation enacted in response to the Arab oil embargo in the 1970s limits U.S. options for crude oil exports. Murkowski, an Alaskan Republican and ranking member of the Senate Energy and Natural Resources Committee, said exporting more oil and natural gas could be an economic asset at home as well as a geopolitical tool overseas. "The United States has an historic opportunity to generate enormous geopolitical and economic benefits by expanding its role in the global gas trade," she testified Tuesday. "We should send a powerful signal to the world that the United States is ready to assert its role as a leader on energy." U.S. policymakers have called for more energy exports to Europe to counter Russia’s economic influence in the region. […]

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Economy in oil-rich North Dakota booming

Jack Dalrymple, governor of the oil-rich state of North Dakota, said personal income growth has outpaced the national average by 5 percent. The Bureau of Economic Analysis said North Dakota’s average personal income increased 7.6 percent last year compared with the national average growth rate of 2.6 percent. It’s the sixth time in the last seven years North Dakota reported an increase in personal income. Dalrymple said the data are a testament to a sound state economic model. "We are enjoying economic growth in all regions of the state and our income growth stems from nearly every business sector," he said in a statement . North Dakota is the second-largest oil producing state in the country behind Texas. North Dakota produced 933,128 barrels of oil per day in January, the last full month for which data are available. The bulk of the production came from […]

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China’s Long Road to Shale-Gas Boom

The development of China’s shale-gas industry has moved forward over the past year, but far more remains to be done than has been accomplished if the nation’s ambitious production targets are to be met, according to executives attending an energy conference here. Here’s a quick rundown on the status of the industry and the daunting challenges ahead: The Players Only two players have made progress on the ground so far. Leading the pack is state-run China Petroleum & Chemical Corp., or Sinopec, which said this week that its first commercial shale-gas field is running “ahead of schedule.” A worker performs a routine check on the valves at a Sinopec appraisal well in Langzhong county, Sichuan province. The field, in the Fuling district of Chongqing, will produce around 1.8 billion cubic meters of gas this year, 5 billion cubic meters next year and 10 billion by 2017, the company said. […]

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EIA: China exceeds US as the largest net petroleum importer

In September 2013, China’s net imports of petroleum and other liquids exceeded those of the US on a monthly basis, making it the world’s largest net importer of crude oil and other liquids, according to the US Energy Information Administration. Rapidly increasing Chinese petroleum demand driven by steady economic development outpaces domestic production growth, pushing up the country’s net imports of petroleum and other liquids. Chinese petroleum and other liquids production is expected to rise 5% between 2011 and 2014 compared with a growth rate of 31% in the US over this period. Chinese production is estimated to be only a third of US production in 2014. On the demand side, China’s liquid fuels consumption is expected to reach more than 11 million b/d in 2014. In the meantime, US consumption in 2014 is estimated at 18.9 million b/d, down 9% from the peak consumption in 2005. US refined […]

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Soros-Endorsed Sale of U.S. Oil Reserves Seen as Russian Penalty

America’s emergency stockpile of oil stands twice as large as the amount required by an international pact. George Soros has proposed selling some now to punish Russian President Vladimir Putin — and U.S. lawmakers are starting to listen. As the U.S. and its European allies seek to rebuke Russia for taking over the Crimea region of Ukraine, America could push down global oil prices by as much as $12 a barrel by selling 500,000 barrels a day from its strategic reserve, said Philip Verleger, a consultant who worked in the Ford and Carter administrations. The lower prices would cost Russia about $40 billion in lost income from oil and gas sales, equivalent to 2 percent of its economy, he said. While Energy Secretary Ernest Moniz has dismissed the idea, it was raised before a congressional hearing yesterday, less than a week after Soros discussed the subject at a panel […]

Posted On : Published By : Tom Whipple