http://www.freerepublic.com/tag/oil/ en-us Sat, 26 Dec 2009 22:50:40 GMT Focus Forum 15 http://www.freerepublic.com/focus/f-religion/2415493/posts TEL AVIV, Israel, Dec. 24 (UPI) -- An exploration team in Israel said it had discovered an oil field in the center of the country described as having significant commercial potential. The Givat Olam Exploration Partnership said, "at this stage it is not possible to estimate the significance of these findings," but the firm described the oil field as one with "significant quantities," Arutz Sheva reported Friday. UPI.com http://www.freerepublic.com/focus/f-religion/2415493/posts#comment Sat, 26 Dec 2009 22:50:40 GMT http://www.freerepublic.com/focus/f-news/2418612/posts Heating no longer free for couple Dave Chidley, the Canadian Press Forced to close family gas well after 78 years December 31, 2009 The Canadian Press SOUTHWEST MIDDLESEX, Ont. (Dec 31, 2009) For decades, the Murray family of southern Ontario has lived on a rare luxury -- they've heated their household for free. But a government order is now demanding that the couple in their 70s shut down a 1931 natural gas well on their property, and the two will have to cough up tens of thousands of dollars to cap the historic well. "We got something we're not paying... Hamilton Spectator http://www.freerepublic.com/focus/f-news/2418612/posts#comment Thu, 31 Dec 2009 21:40:58 GMT http://www.freerepublic.com/focus/f-news/2418278/posts Foster Wheeler AG said Refineria de Cartagena SA (Reficar) has accepted the offer by a joint venture of Foster Wheeler USA Corp. and Process Consultants Inc. to serve as consultant for the expansion of the Cartagena refinery. The project, which will expand the refinery's capacity to 165,000 b/d from 80,000 b/d, will also improve the fuel quality to meet Colombian and international environmental specifications. In addition to doubling its refining capacity, Reficar’s expanded facility will also have the flexibility to process heavy crude, including crude from the Rubiales and Piriri fields in the Eastern Plains region of Colombia. The goal... Oil & Gas Journal http://www.freerepublic.com/focus/f-news/2418278/posts#comment Thu, 31 Dec 2009 13:17:38 GMT http://www.freerepublic.com/focus/f-news/2417996/posts Saudi Arabia will quit a long-held lease for five million barrels of Caribbean oil storage near the key U.S. market on Thursday and state giant PetroChina is poised to move in, industry sources said, a potential major shift in global oil trade dynamics. Coming just weeks after Saudi Oil Minister Ali al-Naimi revealed the world’s top oil exporter accepted an offer for free storage in Japan, the news underscored the growing importance of China and Asia versus the United States, where the government says oil demand has already peaked and supply competition from nearby Brazil and Canada is expanding. It... Reuters via Calgary Herald http://www.freerepublic.com/focus/f-news/2417996/posts#comment Wed, 30 Dec 2009 23:48:48 GMT http://www.freerepublic.com/focus/f-news/2417990/posts Richmond, VA) -- Governor-elect Bob McDonnell wants Virginia to become the first state on the Atlantic seaboard to explore and drill for oil. The Republican has sent a letter to Interior Secretary Ken Salazar, asking that Virginia be allowed to move ahead on offshore energy exploration. McDonnell cites an Old Dominion University study that concluded natural gas production would create hundreds of jobs and generate millions of dollars for the state. It's believed at least 500-million barrels of oil could lie off the coast of Virginia. WMAL http://www.freerepublic.com/focus/f-news/2417990/posts#comment Wed, 30 Dec 2009 23:41:45 GMT http://www.freerepublic.com/focus/f-news/2417985/posts A $40-billion US deal by the United Arab Emirates to acquire nuclear reactors puts it ahead in a drive to meet fast growing power needs among its Gulf neighbours, while also allowing it to export more of its oil. The prospect of starting electricity exports within the next decade is a key element behind the UAE’s award to a South Korean consortium on Sunday of the deal to build and operate four reactors in the third largest oil exporter. “As part of the UAE’s strategy the nuclear power plants will not only supply power domestically, but they are also planning... Reuters via Calgary Herald http://www.freerepublic.com/focus/f-news/2417985/posts#comment Wed, 30 Dec 2009 23:37:49 GMT http://www.freerepublic.com/focus/f-news/2417387/posts <p>Russia and Ukraine agreed new terms Tuesday for oil transit to Europe, averting the threat of another year-end energy crisis after Russian Prime Minister Vladimir Putin accused Kiev of "abuse" on the deal.</p> <p>"Yesterday night, everything fell into place. An additional agreement has been signed," Valentyn Zemlyansky, spokesman for Ukrainian state energy firm Naftogaz, said in Kiev.</p> Rig Zone http://www.freerepublic.com/focus/f-news/2417387/posts#comment Wed, 30 Dec 2009 03:10:43 GMT http://www.freerepublic.com/focus/f-news/2416433/posts One of the solutions to Long Beach's ongoing budget problems may be buried deep underground. Complex contract negotiations involving the Wilmington Oil Field in and around the Port of Long Beach could uncover a cash gusher for public and private interests. Preliminary 10-year financial projections associated with the project include eye-popping numbers: $130 million for the city's general fund, which pays for services such as police and firefighting; $150 million for the city's Tidelands Fund, which pays for services such as lifeguards and coastal development; $240 million for Occidental Petroleum, which is under contract with the city to extract oil... Press-Telegram via Rig Zone http://www.freerepublic.com/focus/f-news/2416433/posts#comment Mon, 28 Dec 2009 19:17:04 GMT http://www.freerepublic.com/focus/f-news/2416428/posts <p>Russia has warned the European Union it may cut its crude oil supplies via the Druzhba oil pipeline connecting Siberian oil fields with Europe to Slovakia, the Czech Republic and Hungary due to demands by Ukraine for higher transit fees, Slovak Prime Minister Robert Fico said Monday.</p> Dow Jones Newswires via Rig Zone http://www.freerepublic.com/focus/f-news/2416428/posts#comment Mon, 28 Dec 2009 19:09:06 GMT http://www.freerepublic.com/focus/f-news/2416299/posts Su Shulin, general manager of Sinopec Group, has forecasted an oversupply for China's product oil market in 2010 despite an increase of apparent demands. A report on the company's website on Thursday said Su made the remark in his report at an annual workshop, saying that new refining capacity from new projects and expansion schemes is the major cause of such oversupply. The general manger forecasted that China's apparent demand for ethylene would have a small growth in the coming year, compared with a rapid increase of domestic ethylene production capacity. He warned that a stronger competition will be seen... Rig Zone http://www.freerepublic.com/focus/f-news/2416299/posts#comment Mon, 28 Dec 2009 16:03:54 GMT http://www.freerepublic.com/focus/f-news/2416297/posts The GCC continues to be a potent investment and business destination for a wide range of oil and gas projects, particularly with Saudi Arabia poised to spend up to USD 400 billion for its own high-profile oil and gas projects within the next several years. The Saudi Government's enormous oil and gas project investments are also in line with the country's Master Gas Strategy Plan, which aims to harness Saudi Arabia's expansive gas reserves estimated to reach up to 230 trillion cubic feet to help address the growing global demand for gas. The Saudi Oil and Gas 2010, a business-to-business... Rig Zone http://www.freerepublic.com/focus/f-news/2416297/posts#comment Mon, 28 Dec 2009 16:02:04 GMT http://www.freerepublic.com/focus/f-news/2416136/posts MOSCOW, Dec. 27 (UPI) -- Russian Prime Minister Vladimir Putin will witness the celebratory launch of the East Siberia-Pacific Ocean oil pipeline, officials say. During Putin's visit to the Russian Far East, he is expected to witness the inauguration of the first leg of the project, which should pump 1.6 million barrels of crude oil per day, the news agency RIA Novosti said Sunday The oil will flow from Siberia to Russia's Far East and on to China and the Asia-Pacific region, the news agency said. The second part of the pipeline is expected to run about 1,300 miles from... UPI http://www.freerepublic.com/focus/f-news/2416136/posts#comment Mon, 28 Dec 2009 08:41:28 GMT http://www.freerepublic.com/focus/f-news/2416174/posts Prime Minister Vladimir Putin launched Russia's long-awaited Siberian oil export route on Monday, hailing a "truly serious event" giving energy-hungry Asia a new supply source from the world's largest crude exporter. Putin, clad in a heavy winter parka, pushed a button that initiated the first filling of an oil tanker at a new oil terminal near the Russian Pacific port of Nakhodka, the projected terminus of the new Siberian oil pipeline. "For Russia this is truly a serious event," Putin said during the terminal inauguration ceremony at the port of Kozmino near Nakhodka, in comments broadcast on state television. "This... Yahoo News http://www.freerepublic.com/focus/f-news/2416174/posts#comment Mon, 28 Dec 2009 12:36:15 GMT http://www.freerepublic.com/focus/f-news/2416172/posts A lawyer for BP last week urged a judge to dismiss much of the state's lawsuit against the company seeking $1 billion or more in damages for the 2006 pipeline spills in the Prudhoe Bay oil field. Jeff Feldman, a private Anchorage attorney representing BP, argued in a hearing before state Superior Court Judge Peter Michalski that the state is improperly pushing tort claims for damages. He also said some of the case should be deferred for now to the Alaska Oil and Gas Conservation Commission, which has expertise on the subject of waste in production of the state's oil... Petroleum News via Anchorage Daily News http://www.freerepublic.com/focus/f-news/2416172/posts#comment Mon, 28 Dec 2009 12:24:39 GMT http://www.freerepublic.com/focus/f-news/2416153/posts U.S. Government to Loan Brazil's Petrobras $10 Billion The U.S. government is preparing to provide up to $10 billion in loans to finance the development of massive hydrocarbon reserves off Brazil’s coast thought to contain 80 billion barrels of high-quality crude, an amount that could lead to a six-fold increase in Brazil’s current proven reserves and transform that nation into one of the world’s 10 largest oil producers. RIO DE JANEIRO – The U.S. government is prepared to provide up to $10 billion in loans to finance the development of massive hydrocarbon reserves off Brazil’s coast, a Brazilian official said... LATIN AMERICAN HERALD TRIBUNE http://www.freerepublic.com/focus/f-news/2416153/posts#comment Mon, 28 Dec 2009 11:14:22 GMT http://www.freerepublic.com/focus/f-news/2415772/posts The declining flow of oil from Alaska's North Slope is creating anxiety among executives who run the trans-Alaska pipeline. Within a matter of years, they say, they will need to take costly steps to preserve the life of the 800-mile-long line. If they aren't successful, ice and wax could become a serious problem for the pipeline, increasing the risk of corrosion and spills. Alyeska Pipeline Service Co.'s sense of urgency isn't because the North Slope is running out of oil. The Slope's producing oil fields still contain enough oil to supply the pipeline for at least several more decades. Many... Anchorage Daily News http://www.freerepublic.com/focus/f-news/2415772/posts#comment Sun, 27 Dec 2009 16:51:09 GMT http://www.freerepublic.com/focus/f-news/2415771/posts A weakened U.S. refining industry could spell opportunity for foreign oil companies wanting to enter the world's biggest fuel market or buy plants on the cheap for other strategic reasons. Possible buyers include firms in nations with high demand for petroleum-based fuels but with insufficient refining capacity to make them, as well as companies in countries that need a home for surplus crude supplies, said Roger Ihne, a refining industry consultant with Deloitte in Houston. And if they're willing to pay current asking prices, they have much to choose from, with about 5 percent of the nation's refining capacity up... AP via Houston Chronicle http://www.freerepublic.com/focus/f-news/2415771/posts#comment Sun, 27 Dec 2009 16:46:51 GMT http://www.freerepublic.com/focus/f-news/2415660/posts Israeli company finds oil beneath Rosh Ha'ayin By Lior Zano, The Marker Last Update: 24/12/2009 13:36 An Israeli oil exploration company on Thursday announced that it had found a huge amount of oil and gas during drilling below the city of Rosh Ha'ayin this week. Givot Olam Oil Exploration Limited Partnership said that more than 60 percent gas was measured in the drill, indicating the first such find in Israel. Advertisement The company said it was too soon to determine what significance the find would bring to Israel, but added that it would become clear over the next few months... Haaretz http://www.freerepublic.com/focus/f-news/2415660/posts#comment Sun, 27 Dec 2009 09:46:56 GMT http://www.freerepublic.com/focus/f-news/2415409/posts WEST LAFAYETTE, Ind. - Refineries could trim millions of dollars in energy costs annually by using a new method developed at Purdue University to rearrange the distillation sequence needed to separate crude petroleum into products. The researchers have demonstrated their method on petroleum plants that separate crude, showing that 70 of the new sequences they identified could enable oil refineries to improve the energy efficiency of this step anywhere from 6 percent to 48 percent, said Rakesh Agrawal, the Winthrop E. Stone Distinguished Professor of Chemical Engineering. The Journal of Business http://www.freerepublic.com/focus/f-news/2415409/posts#comment Sat, 26 Dec 2009 19:31:21 GMT http://www.freerepublic.com/focus/f-news/2415107/posts Voter support for offshore oil drilling remains as strong as it was during last year’s presidential election, but many also continue to believe individual states should be able to stop it off their own coastlines. A new Rasmussen Reports national telephone survey finds that 68% of U.S. voters believe offshore oil drilling should be allowed. Just 20% oppose drilling for oil off the coast of the United States, with another 12% undecided. These numbers are virtually unchanged from findings just after Election Day in November 2008. Republicans and voters not affiliated with either major party favor offshore drilling much more... Rasmussen Reports http://www.freerepublic.com/focus/f-news/2415107/posts#comment Fri, 25 Dec 2009 23:03:41 GMT http://www.freerepublic.com/focus/f-chat/2414755/posts Sarah takes on Big Oil: The compelling story of Governor Sarah Palin's battle with Alaska's 'Big 3' oil companies, as told by the state's top oil and gas editors, Kay Cashman and Kristen Nelson (Hardcover) Product Description Sarah takes on Big Oil illuminates Alaska Gov. Sarah Palin's rise to power, along with her successes and failures in dealing with the industry that is the lifeblood of the state's economy. This book is a must read for those seeking to understand Palin's qualifications for national leadership. Purchasers of Sarah takes on Big Oil qualify for a free, two-year, online subscription to... Amazon.com http://www.freerepublic.com/focus/f-chat/2414755/posts#comment Fri, 25 Dec 2009 00:33:04 GMT http://www.freerepublic.com/focus/f-news/2414686/posts North Dakota's oil patch will set a production record in 2009, despite a year that began with depressed crude prices and a drop in drilling activity, state and industry officials said. North Dakota will produce about 80 million barrels of oil in 2009, up from a record 62.8 million barrels last year, said Lynn Helms, director of the state Department of Mineral Resources. Final production numbers won't be known until sometime in the first quarter of 2010. "We are rocking along," Helms said. "It's a much better year than we expected earlier in the year. It adds up fast when... AP via ABC News http://www.freerepublic.com/focus/f-news/2414686/posts#comment Thu, 24 Dec 2009 21:41:06 GMT http://www.freerepublic.com/focus/f-bloggers/2414669/posts There is that old complaint that says if Moses had only made a right turn after he led the Israelites across the Reed Sea, the Jews would have the Oil, the Arabs would have the desert and the world would be much better off. Well that might be changing a bit. Last January a major supply of natural gas was found off the coast of Haifa, Israel's major port city. Yesterday A significant quantity of oil was discovered near Rosh HaAyin, a city located east of Tel Aviv on the western edge of Samaria Arutz Sheva/The lid http://www.freerepublic.com/focus/f-bloggers/2414669/posts#comment Thu, 24 Dec 2009 21:06:48 GMT http://www.freerepublic.com/focus/f-news/2414567/posts Kuwait has discovered a new oil and gas field and is exploring for more as the OPEC producer seeks to boost its crude output capacity by about 27% to 4 million barrels of oil a day by 2020, a senior oil official said in comments carried by state-run Kuwait News Agency late Tuesday. The new field in northwest of Kuwait had an estimated initial output capacity of 80,000 barrels per day of light crude and 110 million cubic feet of gas a day, Sami Al Rushaid, chairman and managing director of state-run Kuwait Oil Co. or KOC said. "We are... Dow Jones Newswires via Rig Zone http://www.freerepublic.com/focus/f-news/2414567/posts#comment Thu, 24 Dec 2009 18:04:32 GMT http://www.freerepublic.com/focus/f-news/2414356/posts An everlasting hope of finding significant amounts of oil in Israel may have been realized with the announcement Thursday that “significant quantities” of oil were found in a well in the area of Rosh HaAyin, a city located east of Tel Aviv on the western edge of Samaria. Israel National News http://www.freerepublic.com/focus/f-news/2414356/posts#comment Thu, 24 Dec 2009 10:09:12 GMT