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Bioreactor: how to make oil growing algae on exhaust gas piped from power stations and remove 75 per cent of CO2 from power station exhaust

Posted by gasweek on 12 October, 2007

For its supporters the idea of growing single-celled algae on exhaust gas piped from power stations was the ultimate in recycling; and now one of them, CleanTech, has developed a bioreactor based on a patent held by a group of scientists at the Ohio Coal Research Centre, at the University of Ohio, reported The Economist, (8/9/2007, p. 6).

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Posted in Biofuels, oil, Volume 2604 | Leave a Comment »

Spot iron ore $US110 a tonne compared with the Australian contract price of $US52 a tonne; crude oil continues to trade above $US80 a barrel: analysts predict contract price rises up to 40pc for iron ore in 2008-09

Posted by gasweek on 11 October, 2007

Spot iron ore [Indian spot at port India, free on board] was trading at more than $US110 a tonne, compared with the Australian contract price of $US52 a tonne, according to Stephen Wyatt in Shanghai, writing in The Australian Financial Review, (8/10/2007, p. 23).

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Posted in oil, Price, US, Volume 2603 | Leave a Comment »

Queensland revolution: Santos’ LNG proposal requires 170-220PJ per annum; and Arrow Energy’s LNG Proposal 55PJ per annum

Posted by gasweek on 10 October, 2007

On the 18 July 2007, Santos announced a proposal to construct a 3-4 million tonnes per annum (mmtpa) liquefied natural gas (LNG) facility at Gladstone.

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Posted in LNG, Northern Territory, oil, Volume 2603 | Leave a Comment »

November oil delivery at $US83.17 a barrel: sliding US dollar draws investors to commodities as alternative investments

Posted by gasweek on 10 October, 2007

Crude oil traded near $US83 a barrel, after rising the most in four months as the sliding US dollar drew investors to commodities as alternative investments. “There are investors moving into physical assets to try and protect themselves against the weakening dollar,” said Tom Hartmann, commodity broker at Altavest Worldwide Trading. “Heating oil supplies may start to become a concern, especially with the low utilisation rates [reported by refiners],” reported The Australian Financial Review, 29/9/2007, p. 47

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Posted in Finance, oil, Price, Volume 2603 | Leave a Comment »

Origin Energy’s total greenhouse gas emission in 2005 to 2006 was 2 million tonnes of CO2 equivalent; will not report generating and transmission for 3 year

Posted by gasweek on 4 October, 2007

Peter Haenke, Origin Energy’s carbon project manager said Origin Energy’s total greenhouse gas emission in 2005 to 2006 was 2 million tonnes of CO2 equivalent. The company has not to date reported its energy usage, reported The Australian Financial Review (19/9/2007, p.6).

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Posted in Emissions, Gas, oil, Volume 2603 | Leave a Comment »

Oil companies, motor companies and military queue to deny associations with Firepower: claims look flaky

Posted by gasweek on 4 October, 2007

Some of the statements in the document used to drum up interest in Firepower have been questioned in a report in The Sydney Morning Herald (29/9/2007, p. 44).

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Posted in oil, Unknowns, Volume 2602 | Leave a Comment »

Interesting business credentials of Firepower executives and friends: no strangers to APRA and ASIC

Posted by gasweek on 4 October, 2007

Gunter Nolte, the former Halliburton executive, was now Firepower’s European head, reported The Sydney Morning Herald (29/9/2007, p. 44).

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Posted in oil, Volume 2602 | Leave a Comment »

Oil price: Goldman Sachs JBWere predicts multi-year, three-phase, forecast “super-spike” band from $US 105 a barrel to $US 135 a barrel

Posted by gasweek on 3 October, 2007

Goldman Sachs JBWere said that recent rises in the oil price were the second phase of a multi-year, three-phase “super-spike” era, underpinned by the struggle of oil suppliers to catch up with growth in demand, reported The Australian Financial Review, (24/9/2007, p. 25).

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Posted in Australia, oil, Price, US, Volume 2602 | Leave a Comment »

Crude oil rises to more than $US81 a barrel for the first time; market “has the legs to get up to $US83-$US84”

Posted by gasweek on 3 October, 2007

Crude oil rose to more than $US81 a barrel for the first time on speculation that rising demand will deplete stockpiles needed during the northern winter, according to The Age (19/9/2007, p. B5).

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Posted in oil, Volume 2602 | Leave a Comment »

Lakes Oil seeking $9.3 million in 1¢ shares to prove a commercial oil or gas find in Latrobe Valley region

Posted by gasweek on 3 October, 2007

Hardy oil and gas explorer Lakes Oil had gone to its shareholders seeking $9.3 million from a non-renounceable rights issue priced at the princely sum of 1¢ a share, reported The Age (21/8/2007, p. 83).

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Posted in Gas, oil, Victoria, Volume 2602 | Leave a Comment »

Difference between cost of crude oil and the value of its products rises to $US10.74 a barrel

Posted by gasweek on 2 October, 2007

According to Stephen Wisenthal, Caltex Australia, the country’s biggest oil refiner and marketer, will spend $1 billion in the next three years to drive performance at its plants, as industry margins remain at historic highs reported The Australian Financial Review (25/8/2007, p. 12).

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Posted in oil, Price | Leave a Comment »

US suspends all land travel by diplomats and civilian officials in Iraq after law-immune US-paid mercenaries kill 20 Iraqis: Iraq’s Ministry of Defence confirms deaths

Posted by gasweek on 26 September, 2007

The US has suspended all land travel by diplomats and civilian officials in Iraq outside Baghdad’s heavily fortified Green Zone, amid mounting outrage over the alleged killing of civilians by the US Embassy’s security provider Blackwater USA, reported The Mercury (20/9/2007, p. 20). Read the rest of this entry »

Posted in Defense, Iraq, Liquids, Middle East, oil, Policy, Security, US, Volume 2601 | Leave a Comment »

Dubai’s staggering construction boom continues; seeks to be future link for Asia, US, Europe

Posted by gasweek on 26 September, 2007

To see Dubai for the first time was to be confronted with a staggering construction boom that in its scope and ambition dwarfed anything the world has seen for decades, reported The Sydney Morning Herald (22/9/2007, p.44). Biggest and boldest: Seemingly out of nowhere, this tiny emirate on the Persian Gulf decided to force its way into the ranks of the world’s great business and tourism centres by building bigger than anyone dreamed possible. The city’s pursuit of the biggest and boldest was a deliberate strategy put in place by its ruler, Sheik Mohammed bin Rashid al­ Maktoum, whose 20-storey image adorned downtown buildings.

Not just oil: Dubai joined six other emirates to form the United Arab Emirates in 1971. Then Dubai was awash with oil money from reserves dis­covered in the late 1960s but the state had nowhere near the resource potential of its neighbours, so it pursued a different path, aiming to become the financial and trading centre of the Arab world. Today, oil revenues made up less than 5 per cent of the economy. The majority of the 1.4 million people in Dubai were from elsewhere. Most were brought in to work on the more than 5,000 construction sites, mainly from India, Pakistan and Bangladesh, and they did not live in the luxury that surrounded them, but in cramped communal quarters. Others were Western expatriates who worked in finance or property development, or in the burgeon­ing and profitable health-care sector.

Seeks world-hub status: As China and India emerged as the new centres of the global economy, Dubai has, by its own outsized ambition, tried to build itself into the hub that will link Asia with North America and Europe.

The Sydney Morning Herald, 22/9/2007, p. 44

Posted in Middle East, oil, Volume 2601 | Leave a Comment »

Who Dares Wins: Australian SAS operators were on notice for a possible 2007 invasion of Fiji

Posted by gasweek on 26 September, 2007

Last year the Australian Defence Force’s Special Operations Command was ordered into East Timor. And they were put on notice again for a pos­sible intervention in Fiji following last year’s military coup. Read the rest of this entry »

Posted in Defense, East Timor, oil, Pacific, Security, Volume 2601 | Leave a Comment »

China silent on Burma protests, despite heavy investment in resources; India trying to gain oil/gas foothold

Posted by gasweek on 26 September, 2007

China, which had invested heavily in Bur­ma’s extensive resources such as natural gas, remained largely silent on the growing agitation, reported The Australian Financial Review (27/9/2007, p.14). India seeks oil deal: India, which was trying to gain a commercial foothold in Burma, has come under attack as it was a demo­cracy seeking to ignore sanctions already in place against the country. Its Resources Minister, Murli Deora, who travelled to Burma this week to sign an oil exploration deal and begin lobbying for the next deal, became a target for the protesters. This week’s protests came after the government doubled basic fuel prices with no warning, leading to a break­down in public transport services.

The Australian Financial Review, 27/9/2007, p. 14

Posted in Burma, China, Exploration, India, oil, Volume 2601 | Leave a Comment »

21 September: Crude oil rallies through $US84 a barrel for the first time in New York; Traders – and Iran – expect $US100 a barrel oil

Posted by gasweek on 26 September, 2007

Crude oil rallied through $US84 a barrel for the first time in New York on Thursday night when the October futures contract expired. Read the rest of this entry »

Posted in International, Iran, oil, Peak oil, Price, Volume 2601 | Leave a Comment »

High Court rejects BP’s distinctive green (Pantone 348C) as a trademark

Posted by gasweek on 26 September, 2007

The High Court rejected the petrol giant BP Green’s 16-year battle to register its distinctive green – known as Pantone 348C – as a trademark. Companies that have successfully registered a colour include; • Commonwealth Bank of Australia for its trademark yellow and black;

• Kraft for the silver on its cheese packaging; and

• Tiffany & Co for the distinctive blue on its jewellery boxes. Read the rest of this entry »

Posted in Law, oil, Petrol, Volume 2601 | Leave a Comment »

Israel and US at war with Syria and Iran: mystery explosion at Syrian military installation near Aleppo followed by 6 September F-15Is bomber attack

Posted by gasweek on 26 September, 2007

The Syria installation where the July 26 explosion occurred is in the same general area as the alSafir site where the Israeli air attack was carried out on September 6 but there has thus far not been any indication of a connection between the two events. Jane’s Defence Weekly, a respected British journal, reported an explosion in a Syrian military installation near Aleppo on July 26 killed 15 Syrian soldiers and dozens of Iranian weapons engineers. Read the rest of this entry »

Posted in Defense, Israel, Middle East, oil, Petrol, Policy, Security, Volume 2601 | Leave a Comment »

“The Iraq war is largely about oil”, says ex-US Fed Reserve chair, Alan Greenspan

Posted by gasweek on 26 September, 2007

 Former Federal Reserve chair Alan Greenspan created another Iraq-related crisis for the Bush Administration, alleging in his new memoir that “the Iraq war is largely about oil”, reported The Canberra Times (18/9/2007, p.7).

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Posted in Iraq, Liquids, Middle East, oil, Policy, US, Volume 2601 | Leave a Comment »

WorleyParsons annual profit gain more than 60 per cent for third year running; 75pc of earnings from oil and gas

Posted by gasweek on 20 September, 2007

Engineering consultancy WorleyParsons cemented its place among Australia’s best-performing companies yesterday, reporting an annual profit gain of more than 60 per cent for the third year running, reported The Australian Financial Review (28/8/2007, p. 14).

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Posted in Company Results, Gas, oil, Volume 2520 | Leave a Comment »

Government will not remove the Santos cap, unless it keeps its HQ in Adelaide

Posted by gasweek on 20 September, 2007

According to Stephen Wisenthal, of the The Australian Financial Review, (12/9/2007), p. 56, Premier Mike Rann said 11 September., “I am not philosophically opposed to removal of the cap, but this government will not legislate to remove the cap unless we can be satisfied that this will not result in the loss of significant corporate functions.” Santos said it was talking to the government to address Rann’s concerns, while protecting the interests of shareholders.

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Posted in oil, Volume 2520 | Leave a Comment »

WorleyParsons annual profit gain more than 60 per cent for third year running; 75pc of earnings from oil and gas

Posted by gasweek on 20 September, 2007

Engineering consultancy WorleyParsons cemented its place among Australia’s best-performing companies yesterday, reporting an annual profit gain of more than 60 per cent for the third year running, reported The Australian Financial Review (28/8/2007, p. 14). Read the rest of this entry »

Posted in Gas, oil, Volume 2520 | Leave a Comment »

Oil accounts for only 0.02pc of primary energy use in NEM generation in 2005/06, says NEMMCO report

Posted by gasweek on 19 September, 2007

Oil accounted for only 0.02 per cent of primary energy used in generation in the NEM in 2005/06, according to ‘Fuel resource, new entry and generation costs in the NEM’, a report by ACIL Tasman to NEMMCO (27/3/2007).

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Posted in oil, Volume 2520 | Leave a Comment »

Iraqi parliament yet to pass legislation on US oil revenue sharing that gives global oil companies control over Iraq’s oil reserves

Posted by gasweek on 18 September, 2007

Iraqi oil exports were down to less than half the $55 billion that they were worth in 1980 said Senator Lyn Allison (Victoria—Leader of the Australian Democrats). “The invasion has created large numbers of Shia and Sunni jihadists that probably did not need any assistance from Iran”.

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Posted in Iraq, Middle East, oil, Price, US, Volume 2520 | Leave a Comment »

Kurds agree that they would get 17pc of Iraq’s oil income from fields already in operation; still arguing over not-yet-discovered fields

Posted by gasweek on 18 September, 2007

The Kurds had agreed that they would get 17 per cent of Iraq’s oil income from fields already in operation. But they are still arguing with the authorities in Baghdad over the management, exploration and contracts in unexploited or not-yet-discovered fields, reported The Economist (8/9/2007, p.48).

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Posted in Exploration, Iraq, Kurdistan, Middle East, oil, Volume 2520 | Leave a Comment »

Ex-BP man David Knox joins Santos; now responsible for growth in new businesses, including geoscience, new ventures, Indonesia

Posted by gasweek on 15 September, 2007

David Knox, 49, will join Santos from his present position as managing director of BP exploration and production in Australasia, reported The Australian (4/7/2007, p.32).

New-business growth: Knox spent 25 years in the oil and gas industry working for BP in Australia, Britain and Pakistan. He also worked for Shell. Santos said that in his new role, and reporting to John Ellice-Flint, Knox would be responsible for growth in Santos’s new businesses, including geoscience and new ventures, Indonesia and other strategic projects. Analysts said Knox had a similar background in Asia to that of Ellice-Flint, who joined Santos in 2001 as part of a strategy to expand the company beyond its reliance on the Cooper Basin oil and gas fields.

Other recent move: The announcement of Knox’s appointment came less than a week after Santos’s former operational chief, Jon Young, was moved to the new job of executive vice-president of corporate projects, amid speculation that he had threatened to resign from Santos over Ellice-Flint’s succession.

The Australian, 4/7/2007, p. 32

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