OPEC sharply revised down its forecast today for world oil demand for this year and expected consumption would remain weak in 2012, citing waning economic growth in key industrialized nations and a weak U.S. driving season. More »
A local official says at least 75 bodies have been recovered after an explosion of a gasoline pipeline running through a slum in Kenya’s capital. More »
Iran’s first nuclear power plant stepped up operations today after more than a decade of delays, pumping out electricity at up to 40 percent capacity and marking a major step forward in the Islamic Republic’s nuclear program. More »
The Obama administration has less than 10 months to finish assembling its plan for selling offshore drilling leases over the next five years, and some oil industry leaders are worried the government is barely on track to meet a July 1 deadline for issuing the document.
French nuclear safety body says an explosion has rocked nuclear plant in southern France. More »
I was trying to summarize the nightmare Pete Landry was describing, and suggested this: Come fall, Louisiana’s 320,000 boaters will begin unwittingly filling their tanks with the new 15 percent ethanol fuel blends (E-15), resulting in millions of dollars in unnecessary damage, not to mention broken dreams. More »
This is a tale of two oils. Houston-based Swift Energy pumps crude from its oil fields in Louisana and gets a price that’s within a few dollars of what producers receive in most of the world. As of Thursday, that was about $114 a barrel.
Helge Lund, CEO of Norway’s Statoil, likes to say his company is more than just a financial investor in shale gas fields in the U.S., and he made that abundantly clear one morning last week. More »
Nissan has developed a charger for electric vehicles that’s smaller, about half the price, and easier to install. More »
Dow Chemical Co. and Sasol North America Inc. won the dismissal of a lawsuit alleging the chemical companies illegally spied on a unit of Greenpeace International, the environmental advocacy group. More »
China’s State Administration of Work Safety will undertake further inspections into safety practices in the offshore petroleum exploration industry, the agency said in a statement on the government’s website Saturday. More »
President Barack Obama unveiled his $447 billion package aimed at jump starting jobs in the U.S., energize his political base and bringing renewed hope to the American people. But what was missing from his speech last night? Hint: it starts with an ‘E.’ More »