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Pressure on oil companies grows to end gas flaring in Nigeria
For three minutes, on the day last May when Royal Dutch Shell released its first quarter earnings figures, a flame shot high into the air in front of the company’s head office in The Hague, scorching a human chain of about 40 protesters that circled it, a few meters away, to block police efforts to [...]
Indonesia to seek higher LNG price from Korea -govt
Indonesia wants to renegotiate the price of a liquefied natural gas (LNG) deal to South Korea, government officials said on Monday, less than a year after it forced a major Chinese customer to pay more.
Soaring construction costs, sustained higher oil prices and a shortage of LNG before 2012 has emboldened producers such as Indonesia, until [...]
Iran and Russia Learn to Dance the Natural Gas Contango
(Contango-a trading term whereby the future price of a commodity is quoted higher than the price for current delivery)
What’s worse than one bully? A mafioso of them. And if Iran’s Supreme Leader Ayatollah Ali Khamenei has his way, the world’s largest natural gas producers might try to form such a mafia to manipulate markets and [...]
In U-turn, India’s Petroleum Ministry sets ground for buying Iran gas at double the cost
IRNA-Going back on its earlier stand that Tehran should stick to the terms of its gas supply contract, the Petroleum Ministry has now decided to re-open the contract and has agreed, in principle, to buy gas at a higher price.
In June 2005, GAIL (India), Indian Oil Corporation and Bharat Petroleum had signed Sale Purchase Agreements [...]
Korea needs to prepare for global LNG war
What is it? Where does it come from? Korea recently celebrated its national Independence Day, but how can Korea provide for its own energy independence given that we as a nation are energy resource poor? Korea uses nuclear, hydropower, coal, oil and natural gas as its five primary forms of energy.
Every part of Korean life [...]
Sea Views: Global tanker orders triple in first quarter
According to London consultants Drewry, shipbuilders have received more than three times as many orders for oil tankers in the first quarter of 2006 as they did one year ago, as owners invested their record profits in new vessels.
Drewry’s figures show that contracts were issued for 377 vessels, with a capacity of 38.4 million DWT [...]
Sea Views: Global tanker orders triple in first quarter
According to London consultants Drewry, shipbuilders have received more than three times as many orders for oil tankers in the first quarter of 2006 as they did one year ago, as owners invested their record profits in new vessels.
Drewry’s figures show that contracts were issued for 377 vessels, with a capacity of 38.4 million DWT [...]
As Natural Gas Glut Looms, Producers Eye the Weather
The whole world is talking about energy shortages, but for the moment, the U.S. natural gas business is looking at a potential glut.
Thanks in part to a warm winter, inventories of natural gas have built up to levels far greater than normal for this time of year. And terminals built to handle imports of liquefied [...]
