Opec won’t change quotas in March meeting

Opec will not change its crude production quotas when it meets in Vienna on March 17 as the oil market is “very stable”, Qatar said yesterday.
 

Russia will remain small on alternative energy

Russia has too much fossil fuels available at too low prices to make the country big on alternative energy.
 

The Myth of Energy Breakthroughs

Renewed belief in the concept of Energy Breakthrough seems resurgent these days, as a versatile scientist now helms the Department of Energy, and famous people such as Bill Gates invoke the need (and thus our quest) for energy miracles.
 

Gazprom Neft Reversing Loss

OAO Gazprom Neft, the oil arm of Russia’s state gas producer, posted profit in the fourth quarter as crude prices and output rose.
 

Facts about Venezuela’s energy crisis

Venezuela’s worsening electricity crisis, caused in part by a drought linked to the El Nino climate phenomenon, puts its $300 billion economy at risk of contraction and may cut the OPEC country’s oil product exports.
 

Sinopec mulls oil refinery JV with ExxonMobil, Aramco

Sinopec, China''s largest oil refiner, is considering joining forces with two global oil conglomerates to build an oil refinery able to process 12 million tons of crude per year in Fujian, a source familiar with the matter said on Monday.
 

Oil Little Changed Before Report Forecast to Show Supply Gains

Oil traded little changed before a report forecast to show that crude inventories grew for a sixth week in the U.S., the world’s largest energy user.
 

Russia and Venezuela Agree on Orinoco Project

The parliament of Venezuela approved a project on country''s joint development of a major oilfield in Venezuela''s Orinoco oil belt Junin 6 with Russia, local Globovision television channel reported.
 

BP Fined Over Refinery Safety Again

U.S. regulators fined British oil giant BP PLC $3 million, citing safety problems at its Toledo, Ohio, refinery, four months after imposing a record penalty on the company over its refinery in Texas.
 

Total confirms oil refinery closure amid protests

Oil giant Total has announced the closure of its refinery in northern France but vowed to protect jobs by reassigning the workers to other plants.
 

Ethanol prices dip in Brazil

Interestingly, the lower prices for ethanol to producers in Sao Paulo has not been passed on to consumers at petrol pumps, threatening to make ethanol less competitively priced compared to petrol, according to data compiled by the Brazilian Sugarcane Industry Association (UNICA).
 

European Activists Sue Over Biofuels Studies

Environmental lawyers and activists on Monday sued the European Commission for failing to release studies investigating the impact of biofuels on the environment.
 

Challenging conventional wisdom on renewable energy’s limits

In making the case for a rapid conversion away from heavily polluting energy sources like coal and nuclear power to cleaner generation, renewable energy advocates often confront the argument that their scheme is impossible due to the intermittent nature of sun and wind.
 

Time for ‘bold action’ to reduce oil use in Greater Sudbury

A report on peak oil and energy security, published in February 2010 by a United Kingdom industry task force, predicts steep oil price increases and gasoline supply shortages by 2014-2015.
 

Oil drops below $81 after monthlong rally

Oil prices dropped sharply to below $81 a barrel Tuesday, due to a stronger dollar and profit taking on a monthlong run fueled by growing investor optimism about global economic growth.
 

Mindanao Energy crisis just artificial?

Sen. Richard Gordon said the power crisis in Mindanao is artificial and may be part of a sinister plot, and demanded an explanation from the Arroyo administration.
 

CFTC official wants more energy market transparency

Energy commodities regulators worldwide will need to move carefully and cooperatively if they expect to make global oil markets more transparent, US Commodity Futures Trading Commission member Scott D. O''Malia said in Tokyo on Feb. 26.
 

Gasoline prices want to decline

Blame rising gas prices on investors raising the cost of crude oil. Blame them on government spending chasing money into commodities and away from currency. Don''t blame them on the local gas station.
 

Oil traders stop work with Iran

Some of the largest oil traders in the world have stopped working with Iran as U.S. pressure on the so-called Achilles Heel of Iran gains influence.
 

Pipeline to proceed without Alaska support

An official working on Alaska''s proposed Denali pipeline said the multibillion dollar project will move ahead without help from the Alaskan government, which its competitors have already secured.
 

China positive toward resolving gas field dispute

China has a positive attitude toward addressing a dispute with Japan over gas field development in the East China Sea, Foreign Minister Yang Jiechi said Sunday.
 

China lawmakers call for more crude, fuel reserves

China should step up efforts to build up state reserves of crude oil and refined fuel to enhance the country''s energy security, state media cited lawmakers as saying.
 

Iran, Pakistan to finalize major gas deal

Tehran and Islamabad are to finalize a major gas deal on March 9-10 to prepare the way for the export of Iranian natural gas to Pakistan through the “Peace Pipeline.”
 

Azerbaijan ready to transit gas from Asia to Europe

Itar Tass cited Mr Rovnag Abdullayev President of the State Oil Company of Azerbaijani Republic said during recent meeting with Minister of State for Energy and Climate Change and Deputy Leader of the House of Lords Mr Lord Hunt a saying that Azerbaijan is ready to lend its infrastructure for the transportation of hydrocarbons from Central Asia to Europe.

Shell, PetroChina bid 3 billion for Australian gas company

Royal Dutch Shell and PetroChina joined forces for a 2.96 billion US dollar bid for Australia''s Arrow Energy on Monday, hoping for a bigger slice of the country''s booming liquefied natural gas (LNG) sector.