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Sunni Discontent Fuels Growing Violence In Iraq's Anbar Province

Iraqi Sunni masked protesters burn tires to block the main highway to Jordan and Syria, outside Fallujah, Iraq, on Dec. 30, 2013. Violence has returned to Iraq’s Anbar province, with discontented ordinary Sunnis joining forces with al-Qaida-linked militants battling the Iraqi government. AP Violence has reignited in western Iraq, with Islamist fighters taking over much of Anbar province three months ago. A renegade al-Qaida group has set up its headquarters in Fallujah – the city where hundreds of U.S. soldiers died a decade ago, trying to wrest it from insurgent control. But this time, the enemy isn’t the U.S. and it’s not just extremists fighting. Ordinary Sunnis in Anbar, furious at what they call years of discrimination by the Shiite-dominated government, have joined the militants’ battle against the Iraqi army. There’s another difference: This group has better training and weapons , drawing strength and fighters from the […]

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Sunni Discontent Fuels Growing Violence In Iraq’s Anbar Province

Iraqi Sunni masked protesters burn tires to block the main highway to Jordan and Syria, outside Fallujah, Iraq, on Dec. 30, 2013. Violence has returned to Iraq’s Anbar province, with discontented ordinary Sunnis joining forces with al-Qaida-linked militants battling the Iraqi government. AP Violence has reignited in western Iraq, with Islamist fighters taking over much of Anbar province three months ago. A renegade al-Qaida group has set up its headquarters in Fallujah – the city where hundreds of U.S. soldiers died a decade ago, trying to wrest it from insurgent control. But this time, the enemy isn’t the U.S. and it’s not just extremists fighting. Ordinary Sunnis in Anbar, furious at what they call years of discrimination by the Shiite-dominated government, have joined the militants’ battle against the Iraqi army. There’s another difference: This group has better training and weapons , drawing strength and fighters from the […]

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Bomb in Shopping Street in Iraqi Capital Kills 3

Officials in Iraq say a bomb planted on a street full of shoppers in the capital, Baghdad, has killed three people and wounded five. Police officers say the explosion took place in the capital’s predominantly Shiite neighborhood of al-Ameen on Friday morning. Health officials confirmed the casualty figures. All officials spoke on condition of anonymity because they were not authorized to talk to journalists. No one immediately claimed responsibility for Friday’s attack, but Sunni insurgent groups have stepped up attacks across the country since last year, in a bid to undermine the Shiite-led government. The uptick in violence comes at a crucial time, as Iraqis prepare to hold parliamentary elections on April 30, the first such vote since U.S. forces left Iraq in 2011.

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Kidnapping, attacks cripple northern Iraq oil sector

Militants have disabled Iraq’s northern export pipeline since March, and are now targeting other energy infrastructure. Anti-government militants have detonated the pipeline feeding crude to the Baiji refinery and have kidnapped the head of the Haditha refinery, as northern Iraq’s energy sector increasingly suffers from their push to destabilize Iraq.Less than two weeks before pivotal national elections, the anti-government fighters – which include the Islamic State of Iraq and al-Sham (ISIS), an al-Qaida splinter group, as well as other Sunni Muslim militias and tribes – have succeeded in creating chaos that…

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Analysis: Iraq-Turkey treaty restricts Kurdistan exports

If Turkey allows Kurdistan to export oil without Baghdad’s permission, it would likely break a treaty with Iraq, adding a huge layer of legal risk to KRG oil sales. Nearly five months after the Kurdistan Regional Government (KRG) finalized a strategic energy agreement with Turkey, the deal has lost momentum: more than 1.5 million barrels of crude from Kurdistan have been pumped into tanks by the Turkish shore, ready for sale to international buyers – but they remain unsold.One key reason for the holdup is that Turkey may not lawfully be able to facilitate autonomous KRG exports unless Baghdad agrees, according to an international treaty between Iraq and…

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Libya expecting oil sector to recover

Libya’s oil sector may be able to make up for losses incurred by a rebel blockade as soon as production and export levels return to normal, a spokesman said. The central government in Tripoli brokered a deal April 6 with eastern rebel leaders to re-open export terminals. An eight-month blockade from rebels seeking more autonomy for the region known as Cyrenaica cut Libya’s oil export potential drastically. Mohamed al-Harari, a spokesman for Libya’s state-run National Oil Corp., told pan-Arab daily news agency Asharq al-Awsat the ports of Ras Lanuf and Sidra could open next month following further talks with rebel leaders. "Talks must resume to open the remaining ports," he said in an interview published Thursday. "We have suffered great losses from this [crisis], but we will be able to make up these losses once production and export levels are back to normal." The re-opened ports, Zuetina and Harega, […]

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Refining sector strong in March, API said

WASHINGTON, April 18 (UPI) — API Chief Economist said U.S. refineries produced more petroleum products than the nation’s economy needed last month. The production of gasoline and other products increased in March. Gasoline production in particular increased 4.7 percent year-on-year to 9.3 million barrels per day, a level the American Petroleum Institute said was a record for the month of March. "March brought strong demand for both gasoline and distillate fuel, but refinery production actually outstripped demand for all four major products," Felmy said in a statement Thursday. "Fortunately, the rest of the world is also eager to buy the output of U.S. refineries." Legislation enacted in the wake of the Arab oil embargo in the 1970s restricts crude oil exports from the United States, though other products are delivered. API has lobbied for a reversal of the ban. The organization said U.S. petroleum deliveries, a measure of demand, […]

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Advanced U.S. Weapons Flow to Syrian Rebels

The U.S. and Saudi Arabia have supplied Syrian rebel groups with a small number of advanced American antitank missiles for the first time in a pilot program that could lead to larger flows of sophisticated weaponry, people briefed on the effort said. The new willingness to arm these rebels comes after the failure of U.S.-backed peace talks in January and recent regime gains on the battlefield. It also follows a reorganization of Western-backed fighters aimed at creating a more effective military force and increasing protection for Christian and other religious minorities—something of particular importance to Washington. This shift is seen as a test of whether the U.S. can find a trustworthy rebel partner able to keep sophisticated weapons out of the hands of extremists, Saudi and Syrian opposition figures said. The U.S. has long feared that if it does supply advanced arms, the weapons will wind up with radical […]

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Egypt: Cabinet – No Rise in Electricity, Diesel's Prices

Following the Cabinet meeting on Thursday, Cabinet Spokesman Ambassador Hossam el-Qawish said that the subsidy system will be restructured in a way that does not affect the limited income brackets. He further urged the citizens to rationalize consumption in electricity He asserted that there are no rises in prices of electricity or diesel, adding that next summer would not witness a lot of blackouts. He pointed out that there would specific times for blackouts until a radical solution to the electricity crisis is reached. Copyright © 2014 Egypt State Information Service. All rights reserved. Distributed by AllAfrica Global Media ( allAfrica.com ). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here. AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals , representing a […]

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Egypt: Cabinet – No Rise in Electricity, Diesel’s Prices

Following the Cabinet meeting on Thursday, Cabinet Spokesman Ambassador Hossam el-Qawish said that the subsidy system will be restructured in a way that does not affect the limited income brackets. He further urged the citizens to rationalize consumption in electricity He asserted that there are no rises in prices of electricity or diesel, adding that next summer would not witness a lot of blackouts. He pointed out that there would specific times for blackouts until a radical solution to the electricity crisis is reached. Copyright © 2014 Egypt State Information Service. All rights reserved. Distributed by AllAfrica Global Media ( allAfrica.com ). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here. AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals , representing a […]

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South Sudan: Dozens dead as group opens fire in U.N. base

At least 58 people were killed Thursday when a group of armed civilians pretending to be peaceful protesters delivering a petition to the United Nations in South Sudan  forced their way into a U.N. base sheltering some 5,000 civilians and opened fire, the world body said. Among those killed in the attack on the base in Bor in northern Jonglei state were 46 internally displaced persons and 12 attackers, according to the U.N. Mission in South Sudan. No U.N. staff were killed, they said.  Another U.N. spokesperson said about 100 had been injured. Two U.N. peacekeepers were wounded repelling the armed intruders, the U.N. said. The United Nations has reinforced security at Bor, and South Sudan’s government has sent troops to secure the base. More than 1 million people have fled their homes since  fighting erupted in the world’s youngest country in December between troops backing President Salva Kiir and soldiers loyal to his sacked Vice President […]

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Nigeria: U.S. to Help Nigeria On Crude Oil Theft

The United States Ambassador to Nigeria yesterday said his country was willing to help Nigeria tackle crude oil theft. Mr James Entwistle said this at the opening of this year’s edition of a multi-national military exercise in Lagos, codenamed Obangame Express 2014. He said a report has been prepared on a request made by Nigeria on ending crude oil theft. "As many of you are aware, last September, when President Jonathan and President Obama met in New York, we were asked to help your government in the struggle against oil bunkering. We sent out an inter-agency delegation and have delivered a report to your government," he added. The ambassador said: "US remains absolutely committed to collaborating with and supporting Nigeria in its ongoing efforts to increase maritime safety and security in the region." Earlier, Chief of Naval Staff Vice Admiral Usman Jibrin told journalists that the Navy […]

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Is This The End Of China’s Coal Boom?

“ The End Of China’s Coal Boom ,” is a new, must-read chart-filled report from Greenpeace. It documents the response of China to the almost unimaginable  life-shortening  air pollution caused by its rapid growth in coal use. One of its charts highlights the stunning statistic that over half of the growth in  global  carbon pollution in the past decade has come just from China’s increase in coal! But that kind of growth of coal has more than just climate impacts. It is “draining the country’s arid west of precious water resources,” as Greenpeace itself  noted . And then there is the air pollution. Climate Progress has  pointed out  “when eight-year-olds  start getting  lung cancer that can be attributed to air pollution, you’ve got a problem. When  smog forces  schools, roads, and airports to shut down because visibility is less than 50 yards, you’ve got a problem. When a  study […]

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Keystone Decision Delayed by U.S. Over Nebraska Route

The Obama administration said it delayed a decision on the Keystone oil pipeline over uncertainty about the route in Nebraska , which may push final action on the project until after the November election. Republicans and some Democrats in Congress immediately criticized the delay. Eight federal agencies that had until early May to comment on the proposed pipeline will get more time, according to a statement today from the State Department, which is conducting the review. The notice didn’t include a new deadline. President Barack Obama has said he will make the final decision after the review is completed. The decision “amounts to nothing short of an indefinite delay” of the project, Senate Energy and Natural Resources Committee Chairman Mary Landrieu , a Louisiana Democrat, said in a statement. Representative Lee Terry , a Nebraska Republican, criticized the move, saying Obama had “punted a tough decision in the name […]

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Keystone XL Decision Likely to Come After Midterm Elections

The Obama administration is extending its review of the Keystone XL pipeline, citing ongoing litigation in Nebraska over the project’s route through the state, according to people familiar with the matter. The State Department is allowing more time for government agencies to weigh in on the project–a review process that was expected to end in early May, State Department officials told congressional staff on Friday. It is unclear how much more time the State Department will allow for input, but it is likely to push a final decision on the pipeline–which has been under review by the Obama administration for more than five years–until after November’s midterm elections. TransCanada Corp. wants to send oil through a pipeline from Canadian oil sands to Gulf Coast refineries in the U.S. The pipeline project has stirred opposition from environmental groups, which warn it could lead to oil spills and […]

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PetroChina Unit to Buy Remaining Stake in Alberta Oil-Sands Operation

CALGARY—A unit of Chinese state-run oil producer Co. will purchase the 40% stake it doesn’t already own in an oil-sands operation in northern Alberta for 1.32 billion Canadian dollars (US$1.2 billion) from Corp. , the Calgary-based company said Thursday. The move, first announced nearly two years ago, completes a 2010 deal that initially gave PetroChina subsidiary Brion Energy Corp. a 60% stake in the 250,000 barrel-a-day project, known as Dover. The acquisition of the remaining stake had been held up by a provincial regulatory process and a now-settled dispute with a Native American group. "We have today opted to sell our remaining ownership in projects operated by Brion Energy," Athabasca Chief Executive Sveinung Svarte said. Representatives for Brion weren’t immediately available for comment. The acquisition gives PetroChina its second wholly owned oil-sands project in Canada, and perhaps its last. The deal was agreed to before the Canadian federal government […]

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Once-In-A-Decade Surge In Oil Inventories Chalked Up As ‘Anomaly’

ByNicole Friedman A once-in-a-decade surge in U.S. oil inventories had traders scratching their heads this week. U.S. crude-oil supplies rose by 10 million barrels last week, the biggest one-week gain since 2001, according to the U.S. Energy Information Administration. But much of the increase happened on the West Coast, far from the gushing wells in North Dakota and Texas. ClipperData, which tracks oil imports, says the massive jump in oil stockpiles comes down to a big coincidence. Four tankers delivered Colombian crude to West Coast refineries last week, leading to a 1.5-million-barrel boost in Colombian exports to the region, which stretches from Arizona to Alaska, according to ClipperData. “I think it’s an anomaly week, which is not unusual on the west coast,” said Abudi Zein, ClipperData’s chief operating officer. “It’s a very volatile region in terms of imports.” ClipperData tracks U.S. oil and petroleum-product imports and domestic shipments using […]

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Texas Upstream Petroleum Economy Sustains Record Run

This opinion piece presents the opinions of the author. It does not necessarily reflect the views of Rigzone. The upstream oil and gas economy in Texas ventured further into uncharted territory in February, as rapidly increasing production, higher wellhead prices, and revised statewide employment numbers boosted the Texas Petro Index (TPI) to a record 300.6. “Texas producers increased oil output by more than 22 percent in February compared to February 2103, and natural gas production was up about 1.0 percent,” said Karr Ingham, the economist who created the TPI and updates it monthly. “Combined with higher wellhead prices for both commodities, the value of oil and gas produced in Texas during February increased by more than $2.85 billion in the past year to about $10.63 billion.” Ingham noted that Texas producers recovered about 2.75 million bbls per day of crude oil during February, “the most since 1980.” Ingham said […]

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Hydraulic Fracturing: Staying Afloat in Times of Tightening Water Supply

Rigzone Staff 4/16/2014URL: One of the criticisms levied against hydraulic fracturing, particularly during recent periods of drought, is the amount of water used in the process. However, energy companies are seeking to reduce water use during hydraulic fracturing, even as research shows more water is used in other activities. The numbers put things into perspective. The amount of water used to frack a well varies, but most reporting entities put the figure in a range of about 3 to 6 million gallons of water. In Pennsylvania, the average amount of water per well is about 4.4 million gallons, according to State Impact Pennsylvania, a reporting project of National Public Radio (NPR). Using a range of 3-5 million gallons of water per well in the Marcellus Shale, the State College Borough Water Authority calculated that about 12-20 million gallons of water were used in the formation each day. In Texas, the […]

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Pro-Russian Insurgents Balk at Terms of Pact in Ukraine

KIEV, Ukraine — An American-backed deal to settle the crisis in eastern Ukraine fell flat on Friday as pro-Russian militants vowed to stay in occupied government buildings, dashing hopes of a swift end to an insurgency that the authorities in Kiev portray as a Kremlin-orchestrated effort to put Ukraine’s industrial heartland under Russian control. But the agreement, reached in Geneva on Thursday by diplomats from the European Union, Russia, Ukraine and the United States, appeared to arrest, at least temporarily, the momentum of separatist unrest in Ukraine’s Russian-speaking east. Armed pro-Russian militants, who have seized buildings in at least 10 towns and cities since Feb. 6, paused their efforts to purge all central government authority from the populous Donetsk region. It was clear all along that for the pact to have a chance of success, the Kremlin would have to pressure the militants to leave the buildings they had […]

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Shell Plans Russian Expansion With Putin Support for Sakhalin-2

Royal Dutch Shell Plc (RDSA) plans to expand the Sakhalin-2 oil and gas project in Russia’s Far East , the country’s only producer of liquefied natural gas, as it seeks to boost its presence in the Asian energy market. Shell Chief Executive Officer Ben van Beurden won a promise of support for the plan from President Vladimir Putin today at a meeting at the Russian leader’s residence near Moscow. Putin is pushing to add oil and gas routes for Russia to supply Asia, to tap growing demand and ease the country’s reliance on Europe. Shell and state-run OAO Gazprom, its partner in the Sakhalin venture, are looking at expanding capacity by 50 percent before a new wave of supply reaches markets. “We are very keen to grow our position in the Russian Federation,” van Beurden said to Putin today. “We look forward with anticipation and confidence on a very […]

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U.S. Oil Futures Finish at Six-Week High

Oil futures advanced to a six-week high Thursday as traders turned their focus from rising U.S. stockpiles to the continued drawdown of supplies from a storage hub in Oklahoma, where the benchmark U.S. contract is priced. Light, sweet crude for May delivery settled up 54 cents, or 0.5%, at $104.30 a barrel on the New York Mercantile Exchange, the highest price since March 3. Prices rose 0.5% on the week. Brent crude on the ICE futures exchange lost 7 cents, or 0.1%, to settle at $109.53 a barrel. Prices are up 2% for the week. Both the Nymex and ICE trading floors are closed Friday. U.S. crude-oil stockpiles rose by 10 million barrels last week, the biggest one-week increase since 2001, the U.S. Energy Information Administration said Wednesday. However, supplies fell in Cushing, Okla., a key storage hub and the delivery point for the Nymex contract. Cushing stocks […]

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Natural Gas Makes Biggest Gain in Two Months

Natural-gas prices on Thursday posted their biggest one-day gain in two months after a smaller-than-expected increase in U.S. inventories reignited fears that supplies are too low. Producers added 24 billion cubic feet to stockpiles in the week ended April 11, less than the 34 billion cubic feet average forecast by analysts and traders in a Wall Street Journal survey. Gas supplies are coming off an 11-year-low after a frigid winter boosted demand to burn it for home heating. The slow rise for inventories since the arrival of warmer weather is raising questions about whether producers will replenish the country’s stockpile in time for next winter. Prices shot up after the data, with gas for May delivery ending up 4.7% at $4.741 per million British thermal units on the New York Mercantile Exchange. It was the biggest percentage gain since Feb. 19. "We’re talking about a massive storage deficit that […]

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Iran: Rouhani talks peace, outreach at army parade

Iran’s president underscored his moderate policies and outreach to the West in a speech Friday during a military parade on the country’s National Army Day. Referring to the ongoing negotiations between Iran and the world powers over Tehran’s controversial nuclear program, President Hassan Rouhani said Iran has shown it has no hostile intentions toward anyone in the world, including the United States, which has long been considered an enemy. "During the talks, we announced to the world and we say so again … we are not after war, we are after logic, we are after talks," Rouhani said. He touted Iran’s diplomatic outreach and said the backing of the military and the nation was crucial. "Support by the armed forces and support by our brave people have empowered the officials in charge of the talks on the diplomatic front." The Iranian president made no mention […]

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Farmers Seeking Heat Relief Signal Brazil Climate Peril

Brazil may see a mass migration of crops and farm workers from huge swaths of currently tillable lands to more temperate zones as global warming takes hold, according to leading climate experts in the country. Longtime Brazilian climate researcher Hilton Silveira Pinto points to the drought that’s cutting grain and coffee output this year as an indicator that rising global temperatures may already be impacting the country’s crops. “This is a taste of what is to come in the future,” said Pinto, a professor at the Center for Meteorological and Climate Research Applied to Agriculture at the University of Campinas. A study co-authored by Pinto that looks at projected warming trends shows Brazil’s soybean production may drop by as much as 24 percent and wheat output as much as 41 percent by 2020 as climate change reduces areas where the crops can grow. Because Brazil is increasingly helping to […]

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Shell finds gas offshore Malaysia

Shell said Thursday it encountered a major deposit of natural gas while drilling in the deep waters off the coast of Malaysia. Shell said it encountered a gas column measuring 1,476 feet thick while drilling its Rosmari-1 well in deep Malaysia waters. "With further exploration planned, the finding is a positive indicator of the gas potential in an area of strategic interest for Shell,’ the company said in a statement . Shell has a controlling interest in Rosmari-1 in partnership with Malaysia’s state-owned energy company Petronas. The U.S. Energy Information Administration reports Malaysia has about 83 trillion cubic feet of proven natural gas reserves and is No. 3 in the world in terms of exports of liquefied natural gas behind Qatar and Indonesia. Exxon Mobil Corp. in February said it started production at the Damar field off the coast of Malaysia, which has a projected capacity of 200 million […]

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More production expected from top U.S. oil shale basins

Oil production from some of the top shale basins in the United States is expected to increase by 70,000 barrels per day next month, the Energy Department said. In a weekly update , the Energy Information Administration, the statistical arm of the Energy Department, said it expected the gains to come from the combined output from the Bakken, Niobrara, Permian and Eagle Ford shale basins. EIA said it expected the Permian basin in the southern United States to show the most growth, while a spring thaw in Northern Plains states may disrupt some activity in the Bakken region between mid-April and June. EIA said flat oil prices and rising costs meant energy companies may pull back on future spending on exploration and development in the shale basins, though increasing drilling efficiency may offset the loss. Nevertheless, EIA said annual reports from oil and natural […]

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Gulf Coast crude oil inventories reach record level

Crude oil inventories on the U.S. Gulf Coast (USGC) reached 207.2 million barrels (bbl) on April 11, a record high. The elevated inventory levels are the result of the continuing strong crude oil production growth, the opening of TransCanada’s Marketlink Pipeline, and a drop in crude oil inputs at USGC refineries as a result of seasonal maintenance. EIA weekly crude oil inventory data include inventories at tank farms, refineries, and in pipelines. Total working crude oil storage capacity on the USGC totaled 273.3 million bbl as of September 30, 2013 (the most recent date for which that number is available). Tank farm storage accounted for 200.5 million bbl of that capacity, and storage at refineries accounted for 72.9 million bbl. EIA does not include a pipeline capacity number in its working storage capacity estimate. While USGC crude oil inventories typically build during the beginning of the year, this year’s […]

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U.S. Energy Rigs Unchanged at 1,831, Baker Hughes Says

Rigs targeting oil and natural gas in the U.S. were unchanged this week at 1,831, according to Baker Hughes Inc. (BHI) Oil rigs declined by seven to 1,510, data posted on the company’s website show. The gas count increased by six to 316, the Houston-based field services company said. Miscellaneous rigs rose by one to five. The total count gained 52 rigs in the first quarter as producers ramped up drilling in shale formations from North Dakota to Texas, boosting domestic crude output to the highest in a quarter-century. The boom helped the nation meet 87 percent of its energy needs in 2013, the highest since 1985, according to data from the Energy Information Administration. “The prolific rise in domestic crude oil production volume has resulted in a steep fall in U.S. petroleum imports,” Bloomberg Industries analysts Vincent Piazza and Gurpal Dosanjh said in a report yesterday. “Net imports […]

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Peak Oil: Taking A Stand

We live in a society where it is impossible to live a functional lifestyle and not consume products made from petro-chemicals every single day — electronics, fabrics, painkillers, food additives, cosmetics, fabrics, cleaning supplies, building materials, the list goes on. More than ever, it is precisely because it is incredibly difficult to survive outside of our wasteful, exploitative and fossil fuel-obsessed system that we need environmentalists and other activists — yes, even if they own a cellphone and wear cheaply manufactured clothing — advocating for alternative means of production and modes of consumption. (links in original) [1] Waiting for industry officials or their paid media mouthpieces—or political leaders with votes to gather—to deliver the truthful but sobering set of facts about our future energy supply will guarantee a long wait. Too many self-serving and short-term interests to be tended to make it unlikely we’ll get the honest and full […]

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Pro-Russia protesters refuse to retreat in eastern Ukraine

Pro-Russia activists refused to retreat from occupied public buildings in eastern Ukraine on Friday despite an unexpected diplomatic breakthrough on Thursday night that laid out steps to disarm the protesters and ease tensions in the country. After seven hours of negotiations, Sergei Lavrov, the Russian foreign minister, and John Kerry and Andriy Deshchytsia, his US and Ukrainian counterparts, said a statement had been agreed calling for the disbanding of armed groups, the vacation of occupied streets and buildings, and an amnesty for people detained during the unrest. In addition, Ukraine will embark on a process of constitutional reform designed to foster regional autonomy, local self-government and the protection of minority rights, a process which both Mr Kerry and Mr Lavrov stressed must be “inclusive, transparent, and accountable”. But anti-Kiev protesters were determined to stand their ground on Friday, reinforcing doubts already emerging over the ability to implement the […]

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EU Warns Russia Not to Risk Its Role as Gas Supplier

The European Union warned Russian President Vladimir Putin Thursday not to risk his country’s role as a secure supplier of gas to the bloc and said Brussels was willing to start three-way talks quickly with Moscow and Kiev to resolve any concerns. In a letter to Mr. Putin, José Manuel Barroso, the president of the EU’s executive, said the "contractual reliability of the Russian Federation as a supplier of gas is at stake in this matter." The EU meets around a quarter of its gas needs from Russian imports, around half of which reach the bloc through Ukraine. In 2009, some EU consumers were left without energy after pipelines between Russia and Ukraine were shut. Last week, Mr. Putin sent a letter to 18 European leaders, in which he said Russia could force Ukraine to make prepayments for its gas supplies because of […]

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Mega oil field discovered in southern Russia

A new oil field with roughly 300 million tons of oil and 90 billion cubic meters of gas has been discovered in the Astrakhan region of Russia. “The field’s reserves are unprecedented, this discovery confirms the high potential of the Astrakhan region in terms of these major discoveries,” Sergey Donskoy, Russia’s Natural Resources Minister said on Wednesday. The field, called “Velikoe” (The Great) was discovered by the AFB Oil and Gas Company, which will likely seek out larger partners to develop it. Two likely candidates are Rosneft, Russia’s state-owned and largest producer, and Lukoil, the country’s second biggest producer. "According to experts, given the lack of large land deposits, project participation will likely come from all major industry players. The most probable partners are Rosneft and Lukoil, which already have projects in neighboring regions,” Uralsib Capital analyst Aleksey Kokin told mail.ru. Kokin estimates the deposits could be worth nearly […]

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Crude-Oil Futures Mixed in Asia Ahead of Ukraine Talks

Crude-oil futures were mixed in the Asian session Thursday, with traders cautious ahead of a long Easter holiday weekend and a meeting later in the day between the West and Russia over rising tensions in Ukraine. On the New York Mercantile Exchange light, sweet crude futures for delivery in May traded at $104.14 a barrel at 0515 GMT, up $0.28 in the Globex electronic session. June Brent crude on London’s ICE Futures exchange fell $0.09 to $109.51 a barrel. The European Union, the U.S., Russia and Ukraine will meet in Geneva on Thursday in an effort to de-escalate tensions in Ukraine. Western diplomats on Wednesday played down hopes of a major breakthrough at the talks. "However, if the bar has been set low enough in terms of expectations, then there is some chance that the market will retreat on even very minor progress, such as an […]

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WTI Crude Rises on Escalating Ukraine Crisis; Brent Holds Steady

West Texas Intermediate rose for a second day as concern over the escalating crisis in Ukraine outweighed data showing the biggest gain in U.S. crude supplies in more than a decade. Brent was steady in London . Futures advanced as much as 0.5 percent in New York. Ukraine accused Russia of fueling terrorism in its eastern regions as the North Atlantic Treaty Organization pledged to bolster the defenses of nearby nations. Crude stockpiles increased by 10 million barrels last week, according to the Energy Information Administration. That’s the most since March 2001 and more than five times the estimate in a Bloomberg News survey of analysts. “The saber-rattling in eastern Europe is playing a part in the firmness of oil prices ,” said Michael McCarthy , a chief strategist at CMC Markets in Sydney who predicts investors may sell contracts if West Texas climbs to $106 a barrel. “Price […]

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Oil Tanker Starts Loading First Crude From East Libya in Months

An oil tanker started loading crude at Libya ’s eastern port of Hariga as the region exports oil for the first time since July after civil unrest decimated the North African country’s production and shipments. The Aegean Dignity started to load Hariga terminal at 11 a.m. local time, Mohamed Elharari, spokesman for state-run National Oil Corp., said by phone today. The operation will take about 24 hours. The shipment is for Italy , according to a statement from NOC subsidiary Arabian Gulf Oil. “This is the first loading in around nine months from any of the rebel-controlled ports in the east and the first concrete positive from the deals announced just over a week ago,” Richard Mallinson, Energy Aspects analyst in London , said by phone yesterday. “But it is worth remembering that the market is only taking this as a very limited positive development” because other terminals remain […]

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South Sudan: Bad News for Beijing As Machar Attacks Oil Fields

The current conflict in South Sudan has now lasted nearly half a year, killing thousands and displacing hundreds of thousands of South Sudanese. Oil, South Sudan’s only major source of revenue, has neither been the reason for nor the focus of the conflict up to this point. But this is rapidly changing as the flow and whereabouts of the oil revenue, as well as the security of the oil fields themselves, moves to the very centre of the conflict. Although production is only at half-capacity, oil revenue continues to fill Juba’s coffers with roughly $15 million a day. The income from the oil sector is the main financial support for the government of Salva Kiir in Juba and its armed fight against former vice president Riek Macher and rebel groups. Riek Machar has, in recent weeks, been struggling to maintain his fight against the government, in part due to […]

Posted On : Published By : Tom Whipple
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Total Finds Oil in Deep Offshore Ivory Coast

French oil major Total SA (TOT) Thursday said it has found oil while drilling in deep offshore Ivory Coast. The company said it found liquid hydrocarbon below 2,300 meters of water. Total will now evaluate the extent of the find, it said in a statement. "Drilled in an abrupt margin play, this first well is the first discovery in the San Pedro Basin, a frontier exploration area in Ivory Coast," said Marc Blaizot, the senior vice president for exploration at Total. "Having confirmed the presence of a petroleum system containing light oil, we will next evaluate this very promising find." Total operates in Ivory Coast in a partnership with Canada’s CNR International and French PETROCI Holding. Total owns 54% in the joint venture, CNR 36% and PETROCI the remaining 10%. Write to Inti Landauro at [email protected]

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Nigeria: Is It Scarcity of Fuel or Pump Price Increment?

IN the last two months, Nigerians have groaned under the pain of fuel scarcity. Since February they have been wondering if and when solution would be found to the persistent scarcity. Their wondering has turned into fear that this scarcity is another ploy by government to increase the pump price of fuel. This fear was first expressed soon after the scarcity became evident across the country. The reason for this was simply because of the speculation which began towards the end of last year that government planned to increase the price of fuel. The planned strike of oil workers early this year to protest against the privatisation of refineries, many thought, was aimed at thwarting the increment in fuel prices that was seen as the expected outcome of privatisation. There were assurances thereafter that the refineries would not be privatised and for which reason the strike was called off. […]

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China factories face new challenge as growth slows

As China’s growth inexorably slows, manufacturers such as Linan Meite Cable are discovering that being an efficient low cost producer is no longer enough to prosper. Factories that had thrived by using cheap migrant labor to churn out inexpensive clothing, electronics and toys for export now face changing government priorities as a growth engine based on investment and trade loses its momentum after more than a decade of double-digit expansion. At the same time, China’s labor costs are rising and global demand is still weak, putting pressure on manufacturers to move into more advanced production, consolidate into bigger entities or shift to cheaper inland regions to survive. Growth in the world’s second-largest economy eased to 7.4 percent last quarter, the lowest since a mini-downturn in late 2012, government figures showed Wednesday. Last year’s expansion of 7.7 percent tied 2012 for the weakest since 1999. Leaders […]

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Chinese auto brands limp into Beijing show

China’s automakers are the underdogs heading into next week’s Beijing auto show, where foreign and domestic brands will jostle for attention in a market that is increasingly difficult for homegrown models. Facing intense competition from General Motors, Volkswagen and other global rivals, local brands such as Chery, Geely and SUV maker Great Wall have suffered shrinking sales and market share this year while China’s overall auto market has grown. That is a blow to Chinese leaders who have made it a national priority to catch up with neighboring Japan and South Korea by creating globally competitive automakers. "I am pretty pessimistic about the domestic brands," said Wang Chao, auto editor for the newspaper China Youth Daily. "They have to work even harder to win customers." China is the world’s biggest auto market, with last year’s sales rising 15.7 percent from 2012 to 17.9 million vehicles. That […]

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China to Appeal WTO Rare-Earth Ruling

China’s Ministry of Commerce said it plans to file an appeal Thursday against the World Trade Organization’s ruling that the country’s export restrictions on rare-earth minerals violated global rules. "China will spare no efforts in making an appeal," commerce ministry spokesman Shen Danyang said at a news briefing. The move would be in line with earlier indications from a senior ministry official that an appeal would be filed if the WTO ruled against Beijing. The WTO last month ruled in favor of a complaint from the U.S., the European Union and Japan, accusing Beijing of violating trade rules by imposing quotas on exports of rare earths, which are used to manufacture a range of crucial technologies from smartphones to missile-defense systems. China has said the restrictions are in place for environmental-protection reasons. The U.S. also lodged a notice of appeal in its WTO dispute, challenging restrictions that China has […]

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16.1% of Chinese soil polluted

About 16.1 percent of soil in the Chinese mainland suffer pollution, said a report from the Ministry of Environmental Protection Thursday. About 19.4 percent of farming land are polluted, the report said. Xinhua Weibo Facebook Twitter Reddit Diigo Delicious Digg Linkedin MySpace Sina Weibo Kaixin Renren Q-zone Tencent Weibo Sohu Weibo NetEase Weibo Related News             1 Canadian photographer wins Picture of the Year 2 Bunny hop competition held in Prague 3 Fans gather in Rome for premiere of "Spider-Man" sequel 4 Windows XP shutdown opens up prolific information security market 5 Croatian painters swap canvasses for giant Easter eggs Back to Top 1 16.1% of Chinese soil polluted 2 Internet rumormonger gets 3-year jail term 3 China calls for […]

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Nobel winners to White House: Reject Keystone XL

10 recipients of the Nobel Peace Prize called on President Obama ‘s administration to reject an application for the Keystone XL oil pipeline from Canada. Pipeline company TransCanada submitted an application to build the cross-border pipeline more than five years ago. President Obama said he’d weigh the project against its environmental footprint, and a State Department report this year said the pipeline would have few net issues. Nobel Peace Prize winners, from former U.S. President Jimmy Carter to Archbishop Desmond Tutu , sent a letter to Obama and Secretary of State John Kerry urging them to deny the permit for Keystone XL. "The myth that tar sands development is inevitable and will find its way to market by rail if not pipeline is a red herring," they said in their letter published Tuesday. "Oil industry projections are clear that to reach their production goals […]

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Radioactive Waste Booms With Fracking as New Rules Mulled

Oilfields are spinning off thousands of tons of low-level radioactive trash as the U.S. drilling boom leads to a surge in illegal dumping and states debate how much landfills can safely take. State regulators are caught between environmental and public health groups demanding more regulation and the industry, which says it’s already taking proper precautions. As scientists debate the impact of small amounts of radiation on cancer risks, the U.S. Environmental Protection Agency says there’s not enough evidence to say what level is safe . Left to police the waste, state governments are increasing their scrutiny of well operators. Pennsylvania and West Virginia are revising limits for acceptable radiation levels and strengthening disposal rules. North Dakota ’s doing the same, after finding piles of garbage bags filled with radioactive debris in an abandoned building this year. “We have many more wells, producing at an accelerating rate, and for each […]

Posted On : Published By : Tom Whipple