Archive | Industry

RSS feed for this section

Are Gas Prices Impacted By Oil Import Levels?

Are gas prices impacted by the source of countries’ oil? The graphic below, from Oceana, suggests that how much oil a country imports does not affect gas prices. Rather, the group “found that while gasoline prices vary greatly among these five nations, the variation is almost entirely attributable to variation in gasoline taxes

Read full story

Japan Approves Renewable Subsidies in Shift From Nuclear Power

Japan approved on Monday incentives for renewable energy that could unleash billions of dollars in clean-energy investment and help the world’s third-biggest economy shift away from a reliance on nuclear power after the Fukushima disaster. Industry Minister Yukio Edano approved the introduction of feed-in tariffs (FIT), which means higher rates will be paid for renewable energy

Read full story

Mexico’s Carlos Slim Buys 8.4% Stake in Argentina’s YPF

Mexican billionaire Carlos Slim has bought an 8.4% stake in YPF SA, Argentina’s biggest oil-and-gas company. Mr. Slim acquired 6.59% of YPF’s stock, or almost 25.9 million Class D shares, for $288 million, according to a filing YPF sent to the local stock exchange Thursday. He also acquired another 1.77%, or almost seven million shares, as part of the deal.

Read full story

Royal Dutch Shell Investing $300M to Fuel LNG-Powered Trucks

Oil giant Royal Dutch Shell is set to invest more than $300 million to build out a series of liquefied natural gas filling stations at America’s biggest chain of truck stops. According to James Burns, Shell’s manager of LNG transportation fuels, the oil and gas giant will pay the costs of setting up 200 LNG pumps at 100 locations in the Travel Centers of America chain.

Read full story

114 Workers from Baker Hughes Prepared to Strike “for Years”

Workers are prepared to strike “for years” in the latest industrial action to affect Norway’s energy industry, according to Norwegian energy sector union SAFE. The strike, said the Norwegian Oil Industry Association (OLF), involves up to 114 Baker Hughes workers on 12 different installations. At least five oil and gas rigs will be shut due to the strike, according to Dow Jones Newswires.

Read full story

Internet Hoax Takes Aim at Shell’s Arctic Plan

Environmental activists staged an elaborate internet hoax this week in protest of Shell’s plans to drill in Arctic waters off Alaska, fooling thousands of viewers including some media outlets. The hoax started with a video purporting to show a public relations event hosted by Shell at the Space Needle in Seattle, where the ice-class drilling barge Kulluk and drillship Noble Discoverer are docked awaiting deployment to Alaska.

Read full story

Shell to Exit Libyan Exploration Blocks due Insecurity

Royal Dutch Shell PLC Monday said it was exiting its Libyan exploration blocks amid insecurity and harsh contracts, the first such move since Gadhafi’s overthrow. The Anglo-Dutch giant insisted it was still interested in the country, which holds Africa’s largest oil reserves

Read full story

Maria van der Hoeven: Responsible shale industry ‘would thrive’

Explorers must address social and environmental concerns over shale gas extraction if the unconventional fuel is to thrive, the International Energy Agency has said. Launching a new report by her agency on the issue, IEA executive director Maria van der Hoeven said the technology was available for environmentally-responsible production of unconventional gas.

Read full story

EU Coal Prices Could Hurt Low-Carbon Competitiveness

Limited reform of EU emissions trading may not achieve much in CO2 cuts as the falling competitiveness of cleaner technologies is driven more by plunging coal than carbon prices. The financial crisis has slashed carbon prices to record lows by creating a glut of emissions permits. The European Commission wants to boost prices by rationing the supply of EU allowances (EUAs) from next year.

Read full story

Nuclear Regulatory Commission Chairman Gregory Jaczko Resigns

Under a withering assault from the industry, Nuclear Regulatory Commission Chairman Gregory Jaczko is stepping down, effective upon the confirmation of his successor, according to a statement from Jaczko. The resignation follows months of bureaucratic knife-wielding by the four industry-backed members of the five-person panel. Like something out of Dumas, the passionate infighting stretched back decades.

Read full story