United Nations data released today show that last year more than green energy investment in fossil fuel power generation more attractive, which is the first time in history.
Wind, solar and other environmentally friendly technology has attracted 140 billion U.S. dollars of investment, compared to natural gas for power generation and coal of 110 billion U.S. dollars investment. This 140 billion in cash, more than one-third of the green was voted to the United Kingdom and other European countries.
Renewable energy investment is the largest growth in China, India and other developing countries. Them to stop using fossil fuels in order to enhance energy security, addressing climate change, is rapidly catching up with Western countries.
United Nations Environment Program Executive Director Achim Steiner said, "In recent years we have reached many milestones, but this report shows that renewable energy has now reached a critical point. In the global energy mix, it and fossil fuels are equally important (if not more important). "He added that a variety of new types of renewable energy is attracting capital, at the same time in different regions, such as Kenya, Angola, also joined recently, so this is a very encouraging thing.
The United Nations continues to believe that between 2009 to 2011, also need to invest in the world 750 billion U.S. dollars. The first quarter of this year for investment in renewable energy is a disturbing decline of 53% to 13.3 billion U.S. dollars.
Source: www.in-en.com Jun. 6, 2009
Goldman Sachs forecast oil prices to the end of the year to 85 USD per barrel
Washington, June 4 news, the world's oldest and one of the largest bank of Goldman Sachs in a report today that Goldman Sachs recently put its 2009 forecast for oil prices from 65 U.S. dollars a barrel to each 85 U.S. dollars a barrel and the end of next year forecast oil prices to 95 U.S. dollars a barrel.
June 3, the oil from the United States in December last year the past 5 years the lowest point since risen to 32.40 U.S. dollars a barrel over the past 7 months to a new high of 69.05 U.S. dollars a barrel.
Goldman Sachs said that due to economic stability and continue to cut OPEC oil supply, the company expects second half of this year oil prices will continue to rise. Since September last year, OPEC members have agreed on production by 4.2 million barrels of oil, but OPEC has so far completed 80% of the production target, these factors have contributed to rising oil prices. However, even if OPEC to increase oil production next year, but due to the lack of investment, may be next year's supply is still insufficient.
Source: www.in-en.com Jun. 5, 2009
June 3, the oil from the United States in December last year the past 5 years the lowest point since risen to 32.40 U.S. dollars a barrel over the past 7 months to a new high of 69.05 U.S. dollars a barrel.
Goldman Sachs said that due to economic stability and continue to cut OPEC oil supply, the company expects second half of this year oil prices will continue to rise. Since September last year, OPEC members have agreed on production by 4.2 million barrels of oil, but OPEC has so far completed 80% of the production target, these factors have contributed to rising oil prices. However, even if OPEC to increase oil production next year, but due to the lack of investment, may be next year's supply is still insufficient.
Source: www.in-en.com Jun. 5, 2009
Only 30% of global oil reserves can be pumped out of existing technology
Abu Dhabi, June 2 news, the Kuwait Oil Company (KOC) Chairman Sami Al-Rusheid 6 on 2 in here, the world's reserves in the ground for about 30% of oil reserves (equivalent to 3500 billion barrels) can be through the use of existing technology as well as some of the methods being developed to be pumped out.
Rusheid held in the Abu Dhabi National Oil Company Conference of global made these remarks. He said: "We need to find to replace depleted reserves of the approach, however, the challenges we are facing a higher risk."
Rusheid said that the successful application of three-dimensional seismic technology, better technology and enhanced oil recovery drilling technology, oil recovery may be increased to 30-35% or more. There is no exploitation of the oil out is "the money buried in the ground", is currently buried in the ground floor of approximately 3,500 billion barrels of oil are recoverable reserves.
About more than two thirds of the world's oil reserves owned by the OPEC members, most of which focused on countries in the Middle East, and in these countries, the oil industry by the state oil company control.
Source: www.in-en.com Jun. 4, 2009
Rusheid held in the Abu Dhabi National Oil Company Conference of global made these remarks. He said: "We need to find to replace depleted reserves of the approach, however, the challenges we are facing a higher risk."
Rusheid said that the successful application of three-dimensional seismic technology, better technology and enhanced oil recovery drilling technology, oil recovery may be increased to 30-35% or more. There is no exploitation of the oil out is "the money buried in the ground", is currently buried in the ground floor of approximately 3,500 billion barrels of oil are recoverable reserves.
About more than two thirds of the world's oil reserves owned by the OPEC members, most of which focused on countries in the Middle East, and in these countries, the oil industry by the state oil company control.
Source: www.in-en.com Jun. 4, 2009
Bolivia this year, investment in oil exploration will be more than 1 billion USD
News June 2, Bolivia Bolivian state-owned oil giant national oil company (YPFB) in Bolivia and the private oil companies operating in Bolivia this year, will invest in oil exploration and production of more than 1 billion dollars.
The Bolivian national oil company will invest this year 567 million U.S. dollars for development aimed at the separation of gas and oil refining infrastructure, and complement domestic oil and gas and liquid fuel market.
Meanwhile, in Bolivia this year, foreign oil companies operating in Bolivia will be the oil exploration and production of 625.5 million U.S. dollars investment. These foreign oil companies including Brazil's National Petroleum (Bolivia), Spain's Repsol, British Gas (Bolivia), Inc., energy company Petrobras of Brazil, Vintage companies, national oil company of Peru, Matpetrol company Total exploration and production ( Bolivia) company, Dongwon companies and energy companies in Canada.
Source: www.in-en.com Jun. 3, 2009
The Bolivian national oil company will invest this year 567 million U.S. dollars for development aimed at the separation of gas and oil refining infrastructure, and complement domestic oil and gas and liquid fuel market.
Meanwhile, in Bolivia this year, foreign oil companies operating in Bolivia will be the oil exploration and production of 625.5 million U.S. dollars investment. These foreign oil companies including Brazil's National Petroleum (Bolivia), Spain's Repsol, British Gas (Bolivia), Inc., energy company Petrobras of Brazil, Vintage companies, national oil company of Peru, Matpetrol company Total exploration and production ( Bolivia) company, Dongwon companies and energy companies in Canada.
Source: www.in-en.com Jun. 3, 2009
The EU will revise the provisions of the emergency oil reserves
Europe is about to adopt amendments to 40 years, the provisions of the emergency oil reserves to keep pace with the development of the International Energy Agency IEA system. Emergency oil reserve is aimed at the creation of the accidents occur when the oil crisis to ensure that the national energy supply.
Over the past few decades, the EU can not help but become very dependent on Russian energy supplies, it has called upon member states to adopt stringent new measures to enhance energy security.
According to Reuters at the meeting of European ambassadors next week before the draft document shows that the EU's total oil inventories must be at least equivalent to an average of 90 days or imports an average of 61 days consumption. "The proposed amendments to the provisions of the most important purpose is to enable the EU oil stocks system IEA closer to the system, inventory system to allow a higher safety, fewer administrative burdens." A diplomatic source said.
Source: www.in-en.com Jun. 2, 2009
Over the past few decades, the EU can not help but become very dependent on Russian energy supplies, it has called upon member states to adopt stringent new measures to enhance energy security.
According to Reuters at the meeting of European ambassadors next week before the draft document shows that the EU's total oil inventories must be at least equivalent to an average of 90 days or imports an average of 61 days consumption. "The proposed amendments to the provisions of the most important purpose is to enable the EU oil stocks system IEA closer to the system, inventory system to allow a higher safety, fewer administrative burdens." A diplomatic source said.
Source: www.in-en.com Jun. 2, 2009
Venezuela's national oil company to take over 60 oil service companies
May 7, Venezuela enacted a "national foundation in charge of the oil industry activities related to assets and Services Act." The next day, President Hugo Chavez announced that 60 domestic oil service companies of all by the Venezuelan national oil company (PDVSA) to take over.
This time, take over the oil services company, so that Chavez's "oil sovereignty" strategy and a big step.
As the world's fifth largest oil exporter and the only OPEC member in Latin America, Venezuela has the oil industry as its economic pillars. However, the implementation of the last century 90's "oil opening" policy that lifeline to a large extent left in the hands of the hands of foreign companies. Therefore, took office, Chavez will be "nationalized scalpel," the first draw to the oil industry.
For the Venezuelan government is concerned, the benefits of doing so is obvious, as the country's energy and oil minister Rafael Ramirez has said, the move was "not only to reduce production costs, it can substantially increase the Government's oil revenues."
But the industry pointed out that Venezuela's oil production over the past decade due to insufficient investment has fallen sharply, and the incident is likely to further "scare" oil investors to finance the original oil on stretched deeper experience of the Venezuelan financial distress may result in a sharp fall in crude oil production.
At present, foreign companies have been the nationalization of Chavez expressed strong dissatisfaction with the strategy. U.S. marine drilling NSK international oil companies is one of them. In January this year, the Government commissioned the company to force the collection of a set of oil drilling equipment, NSK international counter-attack immediately, the company suspended all drilling operations committee, and requested the Commission to pay PDVSA partners after the 35.5 million U.S. dollars in arrears contract.
Source: www.in-en.com Jun. 1, 2009
This time, take over the oil services company, so that Chavez's "oil sovereignty" strategy and a big step.
As the world's fifth largest oil exporter and the only OPEC member in Latin America, Venezuela has the oil industry as its economic pillars. However, the implementation of the last century 90's "oil opening" policy that lifeline to a large extent left in the hands of the hands of foreign companies. Therefore, took office, Chavez will be "nationalized scalpel," the first draw to the oil industry.
For the Venezuelan government is concerned, the benefits of doing so is obvious, as the country's energy and oil minister Rafael Ramirez has said, the move was "not only to reduce production costs, it can substantially increase the Government's oil revenues."
But the industry pointed out that Venezuela's oil production over the past decade due to insufficient investment has fallen sharply, and the incident is likely to further "scare" oil investors to finance the original oil on stretched deeper experience of the Venezuelan financial distress may result in a sharp fall in crude oil production.
At present, foreign companies have been the nationalization of Chavez expressed strong dissatisfaction with the strategy. U.S. marine drilling NSK international oil companies is one of them. In January this year, the Government commissioned the company to force the collection of a set of oil drilling equipment, NSK international counter-attack immediately, the company suspended all drilling operations committee, and requested the Commission to pay PDVSA partners after the 35.5 million U.S. dollars in arrears contract.
Source: www.in-en.com Jun. 1, 2009
Russia plans to begin construction next month of the oil pipeline through the Baltic Sea
According to the media in Moscow on May 28 reported that the Russian pipeline giant Russian state oil pipeline transport company (Transneft) 5 27 in here that Russia plans to start next month the construction of a direct access to the Baltic Sea oil pipeline.
Transneft said the project will allow Russia to bypass Belarus exports one million barrels per day of Russian oil.
In neighboring Belarus and the former Soviet Union, the dispute took place in 2006, broke through the Druzhba pipeline to transport oil to Europe, the Russian state oil pipeline transport company had initially proposed to expand to near the Russian port of Primorsk in the Baltic Sea Ust-Luga capacity of the gas pipeline system.
Source: www.in-en.com May. 31, 2009
Transneft said the project will allow Russia to bypass Belarus exports one million barrels per day of Russian oil.
In neighboring Belarus and the former Soviet Union, the dispute took place in 2006, broke through the Druzhba pipeline to transport oil to Europe, the Russian state oil pipeline transport company had initially proposed to expand to near the Russian port of Primorsk in the Baltic Sea Ust-Luga capacity of the gas pipeline system.
Source: www.in-en.com May. 31, 2009
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