Archive for January, 2008
British Gas announces 15% price hikes
Centrica, the owner of the UK’s biggest energy provider, British Gas, has announced double-digit price rises for its 13 million customers.
The company said both gas and electricity bills will go up by 15 per cent, increasing average annual bills for dual fuel customers up by £143 to £1,055.
For those customers paying by direct debit, the [...]
ONGC registers third CDM project with UNFCCC
Efforts by Oil & Natural Gas Corporation Ltd towards sustainable development got another boost with the registration of the oil major’s third clean development mechanism project with the United Nations Framework Convention for Climate Change (UNFCCC).
The project, Flare Gas Recovery project at Uran Plant, involves reducing gas flaring from ONGC’s Uran plant and qualifies for [...]
Reliance to invest $1.14 bn in Orissa gas field
NEW DELHI: Reliance Industries will invest $1.139 billion in putting to production the gas fields it has discovered off the east coast, a DGH official said.
Reliance has submitted an initial development plan (IDP) for six gas discoveries in the NEC-25 block in Orissa, envisaging a production rate of 35-40 million standard cubic meters per day.
“We [...]
Energy deals take center stage in Putin’s trip to Bulgaria
Energy deals will take centre stage on the second day Friday of the visit to Bulgaria of Russian President Vladimir Putin amid criticism that while seeking to profit from the contracts, Bulgaria seals its total dependence on Russia for its energy sources.
Putin arrived Thursday evening on his second trip to Bulgaria that will most probably [...]
OVL to pick stake in Iran’s Kish gas block
NEW DELHI: India’s energy ties with Iran, oft shrouded more in myth than reality, may spring some pleasant surprises soon, much to the dislike of Big Brother US.
Indian petro major ONGC Videsh (OVL) is set to sign a deal with Iranian oil major Petropars for a stake in the $30-billion discovered Kish gas block in [...]
Oil Canals May Have Worstened Effects of Katrina
IN THE MISSISSIPPI RIVER DELTA - Service canals dug to tap oil and natural gas dart everywhere through the black mangrove shrubs, bird rushes and golden marsh. From the air, they look like a Pac-Man maze superimposed on an estuarine landscape 10 times the size of Grand Canyon National Park.
There are 10,000 miles of these [...]
Oil Prices Steady Near $92 per Barrel
SINGAPORE (AP) — Oil prices were steady Monday after last week’s decline on concerns that the United States, the world’s largest energy consumer, is headed for an economic recession that would crimp demand for oil.
Energy investors remained focused on recent U.S. government jobs reports that suggest the economy is struggling to make headway against the [...]
21 Seamen Safe After Oil Tanker Explodes in Nigeria
MANILA, Philippines — Barely a month after an oil tanker with Filipino seafarers exploded in Port Harcourt, Nigeria last December, another oil tanker with 21 Filipino seafarers exploded in the same place Sunday, the Department of Foreign Affairs said Monday.
DFA Undersecretary for Migrant Workers Affairs Esteban Conejos said all 21 are safe. He said the [...]
Venezuelan Oil Reserves: Worlds Largest by 2009
Venezuelan President Hugo Chavez has said that by the end of 2009, the country will have 313 billion barrels of certified oil reserves, the largest in the world, Spanish news agency EFE reported on Saturday.
Chavez told lawmakers on Friday that the country’s oil reserves stand at 100 billion barrels, including 20 billion “certified in the [...]
380,000 Barrels of Royalty Oil Missing, According to Audit
How do you not notice when 308,000 barrels of oil go missing?
That’s the question government auditors were asking after they looked into the Department of Energy’s management of oil received for the Strategic Petroleum Reserve, a critical program to assure energy stability in the U.S. in case of an oil crisis.
To help add to the [...]
