The Syrian government is negotiating deals with firms in London, Singapore and the Middle East to sell crude oil in return for the fuel it needs to survive in the face of an increasingly bloody insurgency, documents seen by Reuters show.
Syria has been starved of diesel for its army and fuel to keep the economy running because U.S. and European Union sanctions have cut off its usual suppliers. As sanctions bite, income from crude oil sales becomes increasingly important.
Archive | August, 2012
Syria Casts Net Wide in Search of Oil Deals
UK Oil and Gas Sector Optimistic About Prospects
The UK’s oil and gas industry continues to have a stable and positive outlook, according to the latest survey of business confidence for the sector conducted by trade body Oil & Gas UK.
Oil & Gas UK’s Business Confidence Index for the second quarter of 2012 rose by one point from 64 to 65 on a 100-point scale. This was the highest level business confidence has been in the sector since Oil & Gas UK began measuring it four years ago.
Blogspot by Chris Schuring: Praline Ice Cream and Coconut Cream Pie
The advent of such things as Praline Ice Cream and Coconut Cream Pie, these things go down in the pages of history as great accomplishments and everlasting feats of human engineering for the benefit of all, especially me. So it is with some trepidation that I now delve into the discussion of cap and trade programs. This too will go into the history books in many different ways, good, bad and ugly, but maybe not as sweet.
Greenpeace Climb Gazprom Arctic Oil Rig to Protest Drilling
Greenpeace activists scaled OAO Gazprom’s Prirazlomnaya platform in the Arctic to protest drilling plans on Russia’s first major oil project in the ocean.
Six ecologists, including the environmental organization’s executive director Kumi Naidoo, approached the rig in inflatable speedboats and occupied it earlier this morning, Greenpeace said in an e-mailed statement.
Watch: Obama Administration Looking at Ethanol Rules
The Obama administration is reviewing the country’s ethanol policy amid calls from both political parties and the United Nations to suspend annual targets as the worst drought in 56 years spurs corn prices.
Twenty-five U.S. senators, both Republicans and Democrats, asked Lisa Jackson, administrator of the Environmental Protection Agency, to halt or lower mandates on how much ethanol the country must use this year and next.
Cuba Says Latest Offshore Well Is Not Successful
Cuba’s hopes for energy independence suffered another blow on Monday when its state oil company said the island’s latest offshore oil well was not successful.
Cubapetroleo said the well drilled by Malaysia’s state-owned Petronas in partnership with Russia’s Gazprom Neft found oil but in a geological formation so tightly compacted that oil and gas could not flow through it in “significant quantities.”
Asian Oil Buyers Help Iran Stave Off The Worst, For Now
Asia’s major crude buyers are finding ways around tough U.S. and EU sanctions to maintain imports from Iran, suggesting that, for now, the worst may be over for the OPEC producer that is losing more than $100 million a day in oil export revenues.
Oil Falls as China Export Growth Slows
Oil fell as China’s export growth slowed and the International Energy Agency cut demand forecasts in signs that the global economic recovery is slowing. Prices declined 0.5 percent as China’s customs bureau reported outbound shipments in July increased 1 percent from a year earlier after an 11 percent rise in June.
Oil Surges Most In A Month As U.S. Adds Jobs, Services
Oil surged the most in a month after U.S. payrolls climbed more than estimated and service industries expanded at a faster pace, bolstering optimism about economic strength in the world’s biggest crude-consuming country. Futures rose 4.9 percent as payrolls gained 163,000 in July, Labor Department figures showed today in Washington. The Institute for Supply [...]
Israel Finds $240 Billion Gas Hoard Stranded By Politics: Energy
Israel, reliant on imported energy since the state’s foundation in 1948, now has more natural gas than it can handle. Noble Energy Inc. (NBL), Delek Group Ltd. (DLEKG) and other explorers have discovered enough gas under the Mediterranean Sea to supply Israel’s needs for 150 years. To profit from the finds sooner, the companies want [...]
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