Oil
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Oil Shockwaves From U.S. Shale Boom Seen by IEA Ousting OPEC
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The U.S. shale boom will send “shockwaves” through the global oil trade over the next five years, benefiting the nation’s refiners and displacing OPEC as the driver of supply growth, the IEA said. ...
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May.16.2013
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Iran says $100 per barrel is ‘fair’ price for oil
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Iran’s oil minister says the country supports prices of $100 for a barrel of crude. A Monday report by the ministry website quotes Rostam Ghasemi as saying, “For the price of crude to remain at abo...
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May.15.2013
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The Oil and Gold Booms Are Over
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The wreckage caused by China’s great, juddering slowdown continues to spread far beyond the country’s shores. Although most commodities enjoyed a bounce on May 3, after better-than-expected U.S. em...
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May.8.2013
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Somalia targets Shell, Eni for oil, gas output-sharing contracts
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Somalia plans to sign 30 oil and gas production-sharing contracts this year, starting with companies that operated in the country before its government was toppled more than two decades ago, an off...
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Apr.24.2013
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Oceans are absorbing excess heat, for now
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Pity the oceans. Not only do we dump oil and plastics and all kinds of nasty chemicals and garbage into them. Turns out we’re dumping heat into them too. Studies of ocean temperatures are revealing...
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Apr.16.2013
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IEA cuts world oil-demand forecast
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The International Energy Agency reduced its forecasts for global oil demand in 2013 for a third consecutive month and predicted the weakest consumption in Europe since the 1980s. The IEA reduced it...
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Apr.15.2013
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Reports make it official: Oil and gas are booming
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In case you had any doubts, two reports released this week confirm that the oil and gas economy in Texas is still hot. Drilling permits issued in January and February were up 10 percent over the sa...
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Apr.9.2013
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The road to climate heaven is paved with ever cheaper oil
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Greenpeace recently issued a call for coordinated action to halt development of the 14 most threatening fossil fuel projects on the planet. These coal, oil, and gas projects, by increasing greenhou...
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Mar.26.2013
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Higher natural gas prices boost oil field services demand
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Onshore oil field service activity is picking up again after a difficult 2012, when exceptionally low natural gas prices and a warm winter gutted the demand for natural gas. Natural gas prices have...
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Mar.19.2013
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U.S. oil production hit 20-year milestone in November
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U.S. oil production averaged 7.013 million barrels a day in November, the first time since 1992 that the average daily production during a month has exceeded 7 million, according to revised governm...
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Feb.28.2013
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DSME’s Value of Orders Exceeds Its Target for This Year
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It received an order for large scale fixed platform…value of orders in offshore facility segment exceeded $10 billion. DSME received an order for an offshore plant for producing crude oil, exceedin...
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Dec.31.2012
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The News > Korea
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Brent Oil’s Third Year Over $100 Looms on Supply Risk
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Record revenue for oil producers helped ensure supply stability this year, encouraging Saudi Arabia to pump at its highest rate in three decades.
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Dec.27.2012
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How cheap energy from shale will reshape America’s role in the world
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Source: The Guardian US self-sufficiency in energy is likely to end American reliance on despotic Gulf regimes but biggest loser of all may be Russia After the fall of the Berlin Wall, the rise of ...
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Nov.16.2012
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Consumption of Electric Power in Seoul Rises 41% During 10 Years
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Oil consumption decreased by 35% while that of city gas increased by 16%. Electric power consumption in Seoul increased by nearly 41% during the past 10 years, showing the highest increase rate amo...
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Oct.30.2012
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The News > Korea
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Transforming Our Energy System: Making Progress, Much More Needs to Be Done
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Source: Huffingtonpost At the second presidential debate, Mitt Romney talked about how a president should be “Mr. Oil, or Mr. Gas, or Mr. Coal.” Romney supports continuing the massive $...
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Oct.26.2012
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U.S. Poised To Become World’s Top Oil Producer; May Soon Overtake Saudi Arabia
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Source: Huffingtonpost U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world’s biggest producer. Driven by high prices and new drilling metho...
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Oct.24.2012
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Fracking Pollution Sickens Pennsylvania Families, Environmental Group Says
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Source: Huffingtonpost The McIntyres of Butler County, Pa., no longer drink the water piped into their home. They no longer brush their teeth with it, shower or do laundry with it. “We use wa...
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Oct.19.2012
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A new ‘golden age of oil’ in the U.S.? Don’t believe it
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Source: Grist Last winter, fossil-fuel enthusiasts began trumpeting the dawn of a new “golden age of oil” that would kick-start the American economy, generate millions of new jobs, and free this co...
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Oct.9.2012
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Drilling in the Arctic is a bad business decision
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Source:Grist Quartz (a new business news website, not the rock) raises a good point about oil drilling in the Arctic: It’s still much more expensive than drilling in most other places. Little is kn...
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Sep.27.2012
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EU politicians vote for tough oil, gas anti-corruption law
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Source: CNBC European Union legislators have voted for a draft anti-corruption law, echoing rigorous U.S. rules to make oil, gas and mining firms declare payments they make in resource-rich nations...
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Sep.20.2012
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