FROM SCRATCH NEWSWIRE

SCAVENGING THE INTERNET

Archive for the ‘NATURAL GAS’ Category

OBAMA COMMITTED TO ‘GREEN’ ECONOMY (USA)

Posted by Gilmour Poincaree on January 28, 2009

Tuesday, January 27, 2009

by Xinhua

PUBLISHED BY ‘THE MANILA TIMES’ (Philippines)

LOS ANGELES: The Obama administration is pushing forward with plans to aggressively limit greenhouse gas emissions PRESIDENT OF THE UNITED STATES OF AMERICA, BARACK HUSSEIN OBAMAand fight global warming, US media reported.

The plans would include a cap-and-trade initiative to limit greenhouse gases and raise the cost of pumping more carbon into the atmosphere, the Los Angeles Times said Sunday (Monday in Manila).

Under the initiative, the government would set limits on carbon emissions by power plants, factories and other installations, but allow those who emit more to buy or trade permits with companies and facilities that emitted less than the prescribed limit, according to the newspaper.

But the move would amount to a tax, raising energy costs. And several independent studies have suggested that emissions limits would only increase energy price and be a drag on economic growth, at least in the short term.

Despite such fears, the Obama government believed that a “clean energy economy” move would spur competition and promote investment in renewable alternatives to imported oil.

Two-pronged plan

The administration is expected to move forward with a two-pronged effort to stimulate renewable energy supplies and ensure demand for the megawatts they would produce, the newspaper reported.

The first part is to invest heavily in wind power, solar power and biofuels through the massive stimulus bill, while the second is to help those forms of energy compete with cheaper fossil fuels by pumping up fossil fuel costs to reflect the potential economic damage from global warming, according to the paper.

“If we don’t put a price on carbon,” said Democratic Senator Barbara Boxer, chairman of the Environment and Public Works Committee. “We’ll never get these clean energy sources on line.”

Instead of dragging the economy, the plan to limit greenhouse emissions would stimulate the economy and “allow polluters to transition from a high-polluting environment to a low-polluting environment,” said Andy Stevenson, a former hedge fund manager who is now a finance advisor for the Natural Resources Defense Council in New York City.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE MANILA TIMES’ (Philippines)

Posted in AEOLIC, AGRICULTURE, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), BIODIESEL, BIOFUELS, COMMERCE, COMMODITIES MARKET, ECOLOGICAL AGRICULTURE, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, ETHANOL, FINANCIAL CRISIS - USA - 2008/2009, GLOBAL WARMING, HEALTH SAFETY, HYDROELECTRIC ENERGY, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, MACROECONOMY, NATURAL GAS, POLLUTION, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE PRESIDENCY - USA, USA | Leave a Comment »

PETROBRAS COMPROVA GÁS EM BLOCO DA BACIA DE SANTOS (Brazil)

Posted by Gilmour Poincaree on January 27, 2009

26/01/2009 20:25

Agência Estado

PUBLISHED BY ‘CORREIO BRAZILIENSE’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘CORREIO BRAZILIENSE’

Posted in A QUESTÃO ENERGÉTICA, BRASIL, COMMERCE, COMMODITIES MARKET, DESENVOLVIMENTO SUSTENTÁVEL, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, EXPANSÃO ECONÔMICA, EXPANSÃO INDUSTRIAL, FINANCIAL CRISIS 2008/2009, FLUXO DE CAPITAIS, GÁS NATURAL, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NATURAL GAS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »

WORLD EXPECTS UKRAINE’S DEFAULT

Posted by Gilmour Poincaree on January 22, 2009

21.01.2009

Pravda.Ru

PUBLISHED BY ‘PRAVDA’ (Russia)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘PRAVDA’ (Russia)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INTERNATIONAL, NATURAL GAS, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RUSSIA, THE FLOW OF INVESTMENTS, UKRAINE | Leave a Comment »

ALBERTA ORDERS OIL SANDS FIRMS TO CUT WATER USE (Canada)

Posted by Gilmour Poincaree on January 21, 2009

January 20, 2009 at 6:21 PM EST

The Canadian Press

PUBLISHED BY ‘THE GLOBE AND MAIL’ (Canada)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE GLOBE AND MAIL’ (Canada)

Posted in BANKING SYSTEMS, CANADA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, GLOBAL WARMING, INDUSTRIAL PRODUCTION, INTERNATIONAL, NATURAL GAS, PETROL, POLLUTION, RECESSION, REFINERIES - PETROL/BIOFUELS, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS, WATER | Leave a Comment »

RUSSIAN GAS TO REACH EUROPE IN 36 HOURS AT MOST: UKRAINE

Posted by Gilmour Poincaree on January 20, 2009

20 Jan 2009, 1602 hrs IST

Agence France-Presse

PUBLISHED BY ‘THE TIMES OF INDIA’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE TIMES OF INDIA’

Posted in COMMERCE, COMMODITIES MARKET, CORRUPTION, CRIMINAL ACTIVITIES, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, NATURAL GAS, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RUSSIA, THE FLOW OF INVESTMENTS, UKRAINE | Leave a Comment »

ANALYSIS: IN RUSSIA-UKRAINE GAS WAR, PUTIN GROWS STRONGER AND KIEV FACES STARKLY HIGHER PRICES

Posted by Gilmour Poincaree on January 20, 2009

12:54 PM EST, January 19, 2009

by Douglas Birch – Associated Press Writer

PUBLISHED BY ‘NEWSDAY’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘NEWSDAY’ (USA)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INTERNATIONAL, NATURAL GAS, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, REGULATIONS AND BUSINESS TRANSPARENCY, RUSSIA, STAGFLATION, THE EUROPEAN UNION, THE FLOW OF INVESTMENTS, UKRAINE | Leave a Comment »

CENTRICA’S £1BN NORTH SEA GAS STORAGE DEAL (UK)

Posted by Gilmour Poincaree on January 19, 2009

9:37 PM on 17th January 2009

by Andrew Leach and Tom Mcghie

PUBLISHED BY ‘THE DAILY MAIL’ (UK)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE DAILY MAIL’ (UK)

Posted in BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, NATURAL GAS, RECESSION, THE FLOW OF INVESTMENTS, UNITED KINGDOM | Leave a Comment »

GAZPROM, ENI WILL BE PART OF NATURAL GAS CONSORTIUM – DISPUTE WITH UKRAINE THAT CUT OFF GAS TO EUROPE HAS COST GAZPROM $1.1 BILLION

Posted by Gilmour Poincaree on January 18, 2009

3:33 p.m. EST Jan. 16, 2009

by Polya Lesova – MarketWatch

PUBLISHED BY ‘MARKET WATCH – The Wall Street Journal Digital Network’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘MARKET WATCH – The Wall Street Journal Digital Network’ (USA)

Posted in BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, ITALY, NATURAL GAS, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, RUSSIA, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

ALTERNATIVE-ENERGY COMPANIES GROW EVEN AS OTHERS FALTER INQUIRIES – SALES AND FUNDING RISE IN ANTICIPATION OF NEW REGULATIONS AND SPENDING FROM OBAMA ADMINISTRATION

Posted by Gilmour Poincaree on January 17, 2009

January 13, 2009

by Simona Covel

PUBLISHED BY ‘THE WALL STREET JOURNAL’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE WALL STREET JOURNAL’

Posted in AEOLIC, BANKING SYSTEM - USA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), BIOFUELS, BIOMASS, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, HYDROELECTRIC ENERGY, HYDROGEN - FUEL CELLS, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, MACROECONOMY, NATURAL GAS, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, SOLAR, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

BRUXELAS AMEAÇA KIEV E MOSCOU COM AÇÕES JUDICIAIS PELA CRISE DO GÁS (Belgium/Russia)

Posted by Gilmour Poincaree on January 14, 2009

14/01/2009 07:48

France Press

PUBLISHED BY ‘CORREIO BRAZILIENSE’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘CORREIO BRAZILIENSE’

Posted in BELGIUM, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, JUDICIARY SYSTEMS, NATURAL GAS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RUSSIA, THE FLOW OF INVESTMENTS | Leave a Comment »

PUTIN: UKRAINE HAS A FETISH ABOUT ITS GAS TRANSMISSION SYSTEM (Russia)

Posted by Gilmour Poincaree on January 13, 2009

January 12, 2009 – 11:34 PM

Source: agencies

PUBLISHED BY ‘THE PRAVDA’ (Russia)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE PRAVDA’ (Russia)

Posted in COMMERCE, COMMODITIES MARKET, CORRUPTION, CRIMINAL ACTIVITIES, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, NATURAL GAS, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RUSSIA, SMUGGLING, UKRAINE | 1 Comment »

DEAR MR. MEDVEDEV

Posted by Gilmour Poincaree on January 13, 2009

01/12/09

by Fred Hubner

PUBLISHED BY ‘FROM SCRATCH NEWSWIRE’ (USA)

Dear Mr. Medvedev


I hope you’re in good health, and my feelings are extensive to your entire family ME, THE GAS THIEF, including your pets, in case you do have them.


I know you’re a very reasonable man and, in a general way, extremely engaged in the defense and advancement of your country. I’m sure you must’ve heard of me and my inate penchant for stealing Russian gas. I know that this a very bad habit of mine, but you must understand: that’s how I manage to survive and thrive in this cruel and globalized capitalist economy. I have 6 kids, a wife, an Ukrainian concubine and two very demanding Russian lovers … I love the Russians … I really do … and most specially their natural gas, it smells like heaven in paradise. But I can’t help it … stealing Russian gas is all I’ve managed to learn in my entire life. I should’ve taken my grandma’s advices and embrace car thievery as my profession … but all those wires got me really confused. I tried computer hacking for awhile, but using an ax and a hammer ain’t exactly what’s needed to do it. So that’s it, now you know me. I’m not a bad guy and I’m pretty sure I could tell you some sordid jokes you’ve never heard of. Unfortunately, we don’t chose our destinies … we might be capable of changing it if we need too, but we can’t chose them. Our destinies are part of the original package. Of course I can pretty much figure that, being you a Marxist of some sort, all this talk is utter nonsense. Nevertheless, that’s how I perceive it. So, closing this short missive, I beg you … I implore … please, stop measuring the volume of gas pumped thru Ukraine. That’s pointless, I’m the thief … not them. Yeah, well, yeah I’m surely associated with some creepy Ukrainian public servants … but I’m the one stealing it … the creepy Ukrainians just arrange things a bit … they certainly have nothing to do with my criminal intents.


So, certain of your kind understanding, I bid you goodbye and a good night of sleep.

PUBLISHED BY ‘FROM SCRATCH NEWSWIRE’ (USA)

Posted in COMMERCE, COMMODITIES MARKET, CORRUPTION, CRIMINAL ACTIVITIES, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, NATURAL GAS, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RUSSIA, THE FLOW OF INVESTMENTS, THE WORK MARKET, UKRAINE, UNEMPLOYMENT, USA HUMOR | Leave a Comment »

UKRAINE ‘AGREES GAS-TRACKING DEAL’

Posted by Gilmour Poincaree on January 12, 2009

Monday, 12 January 2009

Associated Press

PUBLISHED BY ‘THE INDEPENDENT’ (UK)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE INDEPENDENT’ (UK

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, NATURAL GAS, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, RUSSIA, THE EUROPEAN UNION, THE FLOW OF INVESTMENTS, UKRAINE | Leave a Comment »

RUSSIA, EU SIGN DEAL ON GAS TRANSIT VIA UKRAINE – NOVO-OGARYOVO, RUSSIA: RUSSIAN AND EUROPEAN UNION OFFICIALS CLEARED THE WAY FOR RESTARTING RUSSIAN NATURAL GAS SUPPLIES TO A FREEZING EUROPE WITH A DEAL SATURDAY ON THE DEPLOYMENT OF EU OBSERVERS TO MONITOR THE FLOW ACROSS UKRAINE

Posted by Gilmour Poincaree on January 11, 2009

Sunday, 11 Jan, 2009 – 02:43 AM PST

Agence France-Presse

PUBLISHED BY ‘DAWN’ (Pakistan)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘DAWN’ (Pakistan)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, EUROPE, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INFLATION, INTERNATIONAL, INTERNATIONAL RELATIONS, NATURAL GAS, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, REGULATIONS AND BUSINESS TRANSPARENCY, RUSSIA, THE EUROPEAN UNION, THE FLOW OF INVESTMENTS, UKRAINE | Leave a Comment »

SAFETY FEARS PERSIST AS PORT AWAITS FIRST GAS TANKER (UK)

Posted by Gilmour Poincaree on January 10, 2009

Friday 9 January 2009

by Steven Morris – The Guardian

PUBLISHED BY ‘THE GUARDIAN’ (UK)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE GUARDIAN’ (UK)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MARITIME, NATURAL GAS, RECESSION, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES, UNITED KINGDOM | Leave a Comment »

E.U. ANNOUNCES BREAKTHROUGH IN GAS DISPUTE

Posted by Gilmour Poincaree on January 9, 2009

Friday, 09 Jan, 2009 – 05:43 AM PST

Agence France-Presse

PUBLISHED BY ‘DAWN’ (Pakistan)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘DAWN’ (Pakistan)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, EUROPE, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, NATURAL GAS, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RUSSIA, THE EUROPEAN UNION, UKRAINE | Leave a Comment »

GAZPROM: ESTÁ SE TORNANDO INÚTIL ENVIAR GÁS PARA EUROPA (Russia)

Posted by Gilmour Poincaree on January 7, 2009

[ 06/01/2009 ]

Cruzeiro On Line

PUBLISHED BY ‘JORNAL CRUZEIRO DO SUL’ (Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘JORNAL CRUZEIRO DO SUL’ (Brazil)

Posted in COMMERCE, COMMODITIES MARKET, CORRUPTION, CRIMINAL ACTIVITIES, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, EUROPE, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, FRAUD, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, JUDICIARY SYSTEMS, NATURAL GAS, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RUSSIA, STOCK MARKETS, UKRAINE | Leave a Comment »

ENERGY GROUP SEALS $74M ITALIAN GAS DEAL

Posted by Gilmour Poincaree on January 7, 2009

January 06, 2009

by Matt Chambers – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

<a href=”CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, ITALY, NATURAL GAS, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

ARGENTINE GOV’T ACCUSES GAS CO OF ‘IRREGULARITIES’

Posted by Gilmour Poincaree on January 7, 2009

Mon, Jan. 05, 2009 06:10PM

by Mayra Pertossi – Associated Press Writer

PUBLISHED BY ‘THE NEWS OBSERVER’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEWS OBSERVER’ (USA)

Posted in ARGENTINA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JUDICIARY SYSTEMS, NATURAL GAS, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »

RUSSIA SHUTS OFF GAS SUPPLY TO UKRAINE – ASSURES NO DISRUPTIONS TO EUROPEAN STATES

Posted by Gilmour Poincaree on January 2, 2009

Friday, January 2, 2009

Reuters

PUBLISHED BY ‘THE MANILA BULLETIN’ (Philippines)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE MANILA BULLETIN’ (Philippines)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, EUROPE, FINANCIAL CRISIS 2008/2009, FOREIGN DEBTS, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, NATURAL GAS, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RUSSIA, THE EUROPEAN UNION, THE FLOW OF INVESTMENTS, UKRAINE | Leave a Comment »

OIL AND GAS BUSINESS POISED TO BECOME CHANGHUAT MAINSTAY (Malaysia)

Posted by Gilmour Poincaree on January 2, 2009

Friday January 2, 2009

by Zazali Musa

PUBLISHED BY ‘THE STAR’ (Malaysia)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE STAR’ (Malaysia)

Posted in COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, MALAYSIA, NATURAL GAS, PETROL, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

COMPANHIA RUSSA CORTA TOTALMENTE FORNECIMENTO DE GÁS À UCRÂNIA – KIEV AMEAÇOU CONFISCAR O COMBUSTÍVEL RUSSO QUE PASSA POR SEU TERRITÓRIO (Russia)

Posted by Gilmour Poincaree on January 1, 2009

01/01/2009 – 07h24min

Zero Hora

PUBLISHED BY ‘A NOTÍCIA’ (Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘A NOTÍCIA’ (Brazil)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, NATURAL GAS, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RUSSIA, UKRAINE | Leave a Comment »

ASIAN MARKETS GAIN, LED BY HIGHER ENERGY STOCKS

Posted by Gilmour Poincaree on December 31, 2008

Tue, Dec. 30, 2008

by Stephen Wright – The Associated Press

PUBLISHED BY ‘PHILLY.COM’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘PHILLY.COM’ (USA)

Posted in ASIA, CHINA, COMMERCE, COMMODITIES MARKET, DIGITAL INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ELECTRIC / ELECTRONIC INDUSTRIES, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, NATURAL GAS, PETROL, PHILIPPINES, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

INDONESIA SAYS CHEVRON MAY INVEST $3 BILLION THERE

Posted by Gilmour Poincaree on December 27, 2008

Dec. 26, 2008, 6:05AM

Bloomberg News

PUBLISHED BY ‘THE HOUSTON CHRONICLE’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE HOUSTON CHRONICLE’ (USA)

Posted in CHEMICALS (processed components), COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, GASOLINE, INDONESIA, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL, NATURAL GAS, PETROL, RECESSION, REFINERIES - PETROL/BIOFUELS, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, TRANSPORT INDUSTRIES, USA | Leave a Comment »

AGL LAUNCHES $171M OFFER FOR SYDNEY GAS – SHARES IN SYDNEY GAS SOARED TODAY AFTER IT RECOMMENDED A $171 MILLION OFF-MARKET TAKEOVER BID BY JOINT VENTURE PARTNER AGL ENERGY

Posted by Gilmour Poincaree on December 25, 2008

December 24, 2008

by Cath Hart – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NATURAL GAS, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

UKRAINE FACES GAS CUTOFF OVER DEBT OWED TO RUSSIA

Posted by Gilmour Poincaree on December 25, 2008

December 24, 2008

The Associated Press

PUBLISHED BY ‘THE INTERNATIONAL HERALD TRIBUNE’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE INTERNATIONAL HERALD TRIBUNE’ (USA)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, NATURAL GAS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RUSSIA, UKRAINE | Leave a Comment »

SERBIA SIGNS GAS DEAL WITH RUSSIA

Posted by Gilmour Poincaree on December 25, 2008

Thursday, December 25, 2008 – 00:34 Mecca time, 21:34 GMT

Agencies

PUBLISHED BY ‘ALJAZEERA’ (Qatar)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘ALJAZEERA’ (Qatar)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, NATURAL GAS, RECESSION, RUSSIA, SERBIA | Leave a Comment »

UK’S RELIANCE ON GAS CONTINUES TO GROW, AS DOMESTIC FUEL RESERVES DIMINISH (UK)

Posted by Gilmour Poincaree on December 24, 2008

December 24, 2008

by Robin Pagnamenta – Energy and Environment Editor

PUBLISHED BY ‘THE TIMES’ (UK)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE TIMES’ (UK)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, NATURAL GAS, RECESSION, THE FLOW OF INVESTMENTS, UNITED KINGDOM | Leave a Comment »

NATURAL GAS IS DROPPING NOW, BUT PUTIN SAYS ERA OF CHEAP GAS OVER

Posted by Gilmour Poincaree on December 23, 2008

December 23, 2008

by Craig Pittman

PUBLISHED BY ‘THE FUEL STATION’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE FUEL STATION’ (USA)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, INTERNATIONAL, INTERNATIONAL RELATIONS, MACROECONOMY, NATURAL GAS, PETROL, RECESSION, REFINERIES - PETROL/BIOFUELS, RUSSIA, THE FLOW OF INVESTMENTS | Leave a Comment »

PETROBRAS CONFIRMA PLANO DE US$ 31 BI PARA REFINARIAS (Brazil)

Posted by Gilmour Poincaree on December 21, 2008

19/12/2008

por Chico Santos, do Rio

PUBLISHED BY ‘VALOR ECONÔMICO’ (Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘VALOR ECONÔMICO’ (Brazil)

Posted in A QUESTÃO ENERGÉTICA, BRASIL, COMMODITIES MARKET, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FLUXO DE CAPITAIS, INDÚSTRIAS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NATURAL GAS, PETRÓLEO, PETROL, RECESSION, REFINERIES - PETROL/BIOFUELS, THE FLOW OF INVESTMENTS | Leave a Comment »

PETROBRAS ADIA ANÚNCIO DO PLANO DE INVESTIMENTO – Motivo são as incertezas diante da crise e a volatilidade dos mercados (Brazil)

Posted by Gilmour Poincaree on December 21, 2008

19/12/2008 – 18h43min

CLIC RBS

PUBLISHED BY ‘ZERO HORA’ (Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘ZERO HORA’ (Brazil)

Posted in A QUESTÃO ENERGÉTICA, BRASIL, COMMODITIES MARKET, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FLUXO DE CAPITAIS, GÁS NATURAL, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NATURAL GAS, PETRÓLEO, PETROL, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

Posted by Gilmour Poincaree on December 20, 2008

Friday, December 19, 2008

CNPC

PUBLISHED BY ‘RIGZONE’

CONSTRUCTION COMMENCES ON CHINA’S WEST-EAST GAS PIPELINE

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘RIGZONE’

Posted in CHINA, COMMODITIES MARKET, CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, NATURAL GAS, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

FUEL SYSTEMS SOLUTIONS ENTERS A DEFINITIVE AGREEMENT TO ACQUIRE ARGENTINE GASEOUS FUELS EQUIPMENT AND TECHNOLOGY MANUFACTURER DISTRIBUIDORA SHOPPING S.A. FOR $22 MILLION

Posted by Gilmour Poincaree on December 20, 2008

FUEL SYSTEMS SOLUTIONS FSYS – 12/19/2008 7:00:19 AM

GlobeNewswire via COMTEX News Network

PUBLISHED BY ‘STOCKHOUSE’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘STOCKHOUSE’

Posted in AUSTRALIA, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, ITALY, NATURAL GAS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, SOUTH AMERICA, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

TURKEY’S PRESIDENT SAYS IRAN, IRAQ COULD SUPPLY GAS FOR NABUCCO PIPELINE

Posted by Gilmour Poincaree on December 17, 2008

12:31 PM EST, December 16, 2008

by Associated Press

PUBLISHED BY ‘NEWSDAY.COM’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘NEWSDAY.COM’ (USA)

Posted in COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, IRAN, MACROECONOMY, NATURAL GAS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, TURKEY | Leave a Comment »

BRAZIL PANEL PROPOSING STATE CO FOR SUBSALT OIL RESERVES

Posted by Gilmour Poincaree on December 17, 2008

Tuesday, December 16, 2008

by Jeff Fick – Dow Jones Newswires

PUBLISHED BY ‘THE RIGZONE’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE RIGZONE’

Posted in A QUESTÃO ENERGÉTICA, BRASIL, COMBATE À DESIGUALDADE E À EXCLUSÃO - BRASIL, COMMODITIES MARKET, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, EXPANSÃO ECONÔMICA, EXPANSÃO INDUSTRIAL, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FLUXO DE CAPITAIS, GÁS NATURAL, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NATURAL GAS, PETRÓLEO, PETROL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »

CONERGY, GE TO POUR $250M INTO ASIA-PACIFIC CLEAN POWER

Posted by Gilmour Poincaree on December 17, 2008

December 15, 2008

by David Ehrlich – GigaOm

PUBLISHED BY ‘THE NEW YORK TIMES’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW YORK TIMES’

Posted in AEOLIC, ASIA, BIOFUELS, BIOMASS, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, GERMANY, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL, NATURAL GAS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, SOLAR, STOCK MARKETS, THE FLOW OF INVESTMENTS, USA | Leave a Comment »

FIRST GAS DISCOVERY IN MOROCCO

Posted by Gilmour Poincaree on December 13, 2008

11-10-2008

PUBLISHED BY ‘THE NORTH AFRICA JOURNAL’ (Boston, MA, USA)

UK-based independent hydrocarbons exploration firm Circle Oil Plc confirms that it has found natural Britain’s Isle of Grain Liquefied Natural Gas terminal has received its first gas shipment after a substantial upgrade programme designed to increase handling capacity to 8.6 Bcm per year - 26-11-2008gas in the north-east of the Moroccan capital Rabat. The finding is important in that Morocco has long been hoping to find hydrocarbons and past discoveries turned into failed ventures and bad PR disasters.

This time, the news is more solid. Circle says the gas was found on well ONZ6 in the Ouled N’Zala Permit. The Company confirms a discovery in the Upper Ouled Formation with the well testing gas at a sustained rate of 3.32 MMscfd. The well has been completed as a potential producer and the drilling rig has now moved to the Sebou permit to start drilling the second location of the six well drilling program planned for the two permits.

A full technical evaluation of all the results is underway which will allow for forward planning as a precursor to further assessment of the resource including conducting an extended well test. A full assessment of reserves has not yet been completed.

The Ouled N’Zala Permit lies north-east of Rabat in the Rharb Basin, Morocco. The Rharb Basin is a foredeep Basin located in the external zone of the Rif Folded belt. The concession agreement includes the right of conversion to a production license of 30 years, plus extensions, in the event of commercial discoveries. Circle holds a 75% interest in the Sebou permit.

The work in Morocco is being undertaken by Circle Oil Maroc Ltd (COML), a wholly owned subsidiary of Circle Oil plc, which was signed an Exploration and Exploitation Agreement with ONHYM (Office National des Hydrocarbures et des Mines) for the Sebou Concession (296 km2), situated in the Rharb Basin, Morocco. The Exploration Agreement is for a total period of 8 years with the right of automatic conversion to a minimum (but extendable) 25 year Exploitation period.

The Sebou Permit has previously been owned, explored and exploited by ONHYM. In the partnership the shareholding is COML 75% and ONHYM 25%. The Rharb Basin is highly prospective and has a historic natural gas production of almost one billion MM3. 2D seismic and well calibration is available and ONHYM have extensive knowledge of the area. Small scale Gas production within the Rharb is presently from four wells.

The permit has considerable potential for the exploration and development of more natural gas and exploitation would be by a series of low cost wells/producers each producing from 20-80MM3 of gas. The produced gas will be sold to local industry at locally agreed commercial rates. If successful, the development will allow COML to achieve production in a relatively short time scale and provide a long term continuing earnings contribution to COML.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NORTH AFRICA JOURNAL’ (Boston, MA, USA)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MOROCCO, NATURAL GAS, RECESSION, THE FLOW OF INVESTMENTS, UNITED KINGDOM | Leave a Comment »

EU AGREES $260BN ECONOMY PLAN

Posted by Gilmour Poincaree on December 12, 2008

Friday, December 12, 2008 15:17 Mecca time, 12:17 GMT

PUBLISHED BY ‘AL JAZEERA’ (Qatar)

European Union leaders have agreed a $260bn stimulus package designed to dig the continent’s troubled economies out of recession.

The deal, which see each EU French President Nicolas Sarkozy, right, shares a word with German Chancellor Angela Merkel during a round table meeting at an EU summit in Brussels, Friday Dec. 12, 2008. European Union leaders continue their two days of talks aimed at sealing a final accord on their climate change package to cut emissions by 20 percent by 2020member invest on average the equivalent of 1.5 per cent of gross domestic product (GDP) into their economies in order to temper the impact of a global recession, was reached on Friday at a two-day summit in the Belgian capital Brussels.

“What Europe has proved unanimously today is that it is ready to act in a united way to deal with the global downturn,” Gordon Brown, Britain’s prime minister, said.

“We will continue to reject the do-nothing approach and we will not stand by and let the recession take its course.”

Ahead of the summit, Germany had expressed reservations about ploughing so much public money into the economy and resisted pressure to contribute more than what it judged necessary to revive the German economy again.

Officials revised earlier versions of the conclusions to say the package should be worth “about” 1.5 per cent of GDP rather than “at least” 1.5 per cent as seen in an earlier draft.

Climate change

After securing an agreement in the morning for Ireland to submit a stalled EU reform treaty to a second referendum next year, the 27 leaders were also hoping to reach more common ground on climate change as the day progressed.

Copies of a draft agreement indicated the leaders should commit themselves to warding off the threat of a “recessionary spiral” with the stimulus package and an ambitious climate package.

“In these exceptional circumstances, Europe will act in a united, strong, rapid and decisive manner to avoid a recessionary spiral and sustain economic activity and employment,” the draft conclusion said.

“It will mobilise all the instruments available to it and act in a concerted manner to maximise the effect of the measures taken by the [European] Union and by each member state.”

The EU’s climate-energy package, the “20-20-20” deal, seeks to decrease greenhouse gas emissions by 20 per cent by 2020, make 20 per cent energy savings and bring renewable energy sources up to 20 per cent of total energy use.

Angela Merkel, the German chancellor, said: “The member states still have essential negotiations but I am cautiously optimistic that good conclusions can be reached here and send an important signal” to an international climate conference in Copehagen next December.

Under Ireland’s referendum deal, a new referendum will be held by November 2009 on the controversial treaty in exchange for guarantees on key issues including an assurance that it does not lose its EU commissioner.

Irish voters rejected the treaty, designed to streamline EU decision-making and institutions, at a first referendum in June.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘AL JAZEERA’ (Qatar)

Posted in AEOLIC, BANKING SYSTEMS, BELGIUM, BIOFUELS, BIOMASS, CENTRAL BANKS, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, EUROPE, EUROPEAN CENTRAL BANK, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, FRANCE, GERMANY, HYDROGEN - FUEL CELLS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, IRELAND, NATURAL GAS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, SOLAR, THE EUROPEAN UNION, THE FLOW OF INVESTMENTS, UNITED KINGDOM | Leave a Comment »

SIEMENS FINANCIAL SERVICES INC. HAS ACQUIRED 30% STAKE IN THE TORP TERMINAL LP, IN HOUSTON, TX

Posted by Gilmour Poincaree on December 11, 2008

Monday, December 10, 2008

Distributed by Press Release

PUBLISHED BY ‘THE EXAMINER’

ISELIN, N.J., Dec. 10 /PRNewswire/ – Siemens Financial Services, Inc. (SFS Inc.), the U.S. financing unit of Siemens AG, has taken a 30% equity interest in TORP Terminal LP. TORP Terminal LP, with headquarters in Houston, TX, is a limited partnership owned by TORP Technology Inc., TORP Technology AS, and SFS Inc.

TORP Technology AS has developed the award winning technology, the HiLoad LNG Regas, which will be applied at the Bienville Offshore Energy Terminal, to receive and re­gasify liquefied natural gas (LNG). TORP Terminal has filed an application for a license under the Deep Water Port Act to build, own and operate the terminal in the Gulf of Mexico.

The Bienville Offshore Energy Terminal will be located 63 miles south of Dauphin Island, Alabama, in 450 ft of water, and will utilize TORP’s proprietary HiLoad Technology in an environmentally sound way for cost­effective offloading of LNG carriers offshore.

Lars Odeskaug, CEO of TORP Technology AS, explained: “The HiLoad Technology enables us to safely dock onto any LNG carrier, unload and re­-gasify the LNG at very attractive rates. TORP selected the site offshore Alabama for the terminal due to its strategic location downstream of Henry Hub and with high takeaway capacity to some of the best gas markets in the U.S. We are pleased that Siemens has arrived at the same conclusion, both with respect to technology and location, and we look forward to move the project forward with Siemens as a strong partner.”

“Siemens thrives on innovation and we recognized in this project another opportunity to invest in an innovative technology” says Johannes Schmidt, Head of Equity & Project Finance. “At SFS, we see ourselves as enabler of business expansion that understands the challenges its customers face and creates customized financial solutions to help solve them.”

About Siemens Financial Services (SFS)

Siemens Financial Services (SFS) is an international provider of financial solutions in the business­to­business area. With about 1,900 employees and an international network of financial companies coordinated by Siemens Financial Services GmbH, Munich, we support Siemens as well as non-­affiliated companies, focusing on the three sectors of energy, industry and healthcare. We finance infrastructure, equipment and working capital and act as a competent manager of financial risks within Siemens. By leveraging our financing expertise and our industrial know­-how we create value for our customers and help them strengthen their competitiveness. For more information see: www.siemens.com/finance.

Siemens Financial Services, Inc. (SFS Inc.) is a leading provider of business­-to-­business financial services in the United States. SFS is a committed business ally that combines deep industry expertise with integrated financing solutions to enhance the efficiency, productivity, and competitiveness of its customers. The company, based in Iselin, NJ, enables business expansion for thousands of customers in the healthcare, energy, and industrial sectors by providing customized solutions that range from equipment financing and working capital to project and export finance, and insurance solutions. Further information on Siemens Financial Services in the United States: www.usa.siemens.com/financial.

About Siemens

Siemens AG (NYSE: SI) is a global powerhouse in electronics and electrical engineering, and operates in the industry, energy and healthcare sectors. For more than 160 years, Siemens has built a reputation for leading­-edge innovation and the quality of its products, services and solutions. With 428,000 employees in 190 countries, Siemens reported worldwide sales of $116.6 billion in fiscal 2008. With its U.S. corporate headquarters in New York City, Siemens in the USA reported sales of $22.4 billion and employs approximately 69,000 people throughout all 50 states and Puerto Rico. For more information on Siemens in the United States, visit www.usa.siemens.com.

About TORP Terminal LP

TORP Terminal LP is based in Houston, TX. The company is a limited partnership owned by TORP Technology Inc., TORP Technology AS (Stavanger, Norway) and Siemens Financial Services Inc. The company has the rights to utilize the HiLoad LNG Re-­gasification technology at the Bienville Offshore Energy Terminal. The HiLoad LNG Re­-gasification unit is a floating L-­shaped terminal that docks onto the LNG carrier using the patented friction based attachment system (rubber suction cups) creating no relative motion between the carrier and the terminal. The HiLoad LNG Re­-gasification unit is equipped with standard re­-gasification equipment (LNG loading arms, pumps and vaporizers) and can accommodate any LNG carrier without the use of any special equipment. The terminal uses air for heating the LNG, saving fuel costs. For more information on TORP Terminal LP, go to http://www.torplng.com.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE EXAMINER’

Posted in COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, GERMANY, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL, MEXICO, NATIONAL WORK FORCES, NATURAL GAS, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS, USA | Leave a Comment »

BRAZIL GOV’T IN TALKS ON SUBSALT OIL INVESTMENTS

Posted by Gilmour Poincaree on December 11, 2008

Monday, December 08, 2008

by Jeff Fick – Dow Jones Newswires

PUBLISHED BY ‘THE RIGZONE’

RIO DE JANEIRO – Brazil’s government is in talks with a variety of potential investors – besides China – to finance investments in the Mines and Energy Minister Edison Lobaocountry’s promising subsalt oil deposits, the country’s mines and energy minister said Monday.

Mines and Energy Minister Edison Lobao told the local Estado news agency that “it’s not only China. There are a range of opportunities that Petrobras has.”

Lobao confirmed press reports Monday that the Chinese government had offered Brazilian state-run energy giant Petroleo Brasileiro $10 billion to fund subsalt oil development – and that was just to start.

According to Lobao, other possible funding could come from the United Arab Emirates, Japanese groups and Canadian banks. In addition, financing could be arranged with oil-exploration equipment suppliers that have their own sources of financing, Lobao said.

“Petrobras is a solid company. It has a prestigious history abroad. There is no safer investment than in Petrobras,” Lobao said.

“Petrobras will not have any problems. The financing sources will be generous, whether they are domestic or foreign,” the minister added.

The Brazilian government would also consider using its $200 billion in foreign reserves to help finance Petrobras’ investments, Lobao BRAZIL'S SUBSALT BASINSsaid.

“It’s a possibility. It’s a decision that will be made by the government. If Petrobras one day needs it, we could help with these reserves. They’re just sitting there,” Lobao said.

Such financing could help Petrobras overcome a tight credit market and falling international oil prices, which experts and analysts have speculated could slow down development of the subsalt reserves. Full development of the region has been estimated to cost as much as $600 billion.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE RIGZONE’

Posted in A QUESTÃO ENERGÉTICA, BRASIL, CANADA, CHINA, CIDADES, COMBATE À DESIGUALDADE E À EXCLUSÃO - BRASIL, COMMERCE, COMMODITIES MARKET, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, EXPANSÃO ECONÔMICA, EXPANSÃO INDUSTRIAL, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FLUXO DE CAPITAIS, FOREIGN POLICIES, GÁS NATURAL, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL RELATIONS, MINISTÉRIO DAS MINAS E ENERGIA, NATURAL GAS, O PODER EXECUTIVO FEDERAL, PETRÓLEO, PETROL, POLÍTICA EXTERNA - BRASIL, PROGRAMA DE ACELERAÇÃO DO CRESCIMENTO (PAC), RECESSION, RELAÇÕES COMERCIAIS INTERNACIONAIS - BRASIL, RELAÇÕES DIPLOMÁTICAS - BRASIL, RELAÇÕES INTERNACIONAIS - BRASIL, THE FLOW OF INVESTMENTS | Leave a Comment »

BULGARGAZ WANTS NATURAL GAS PRICES UP BY 21% FROM JANUARY 1, 2009 – Bulgaria’s gas monopoly Bulgargaz wants a 21,31% increase in the natural gas prices in Bulgaria starting January 1, 2009

Posted by Gilmour Poincaree on December 11, 2008

10 December 2008, Wednesday

PUBLISHED BY ‘BULGARIAN BUSINESS – NOVINITE.COM’

The company, which is already part of the Bulgarian Energy Holding, submitted Wednesday its suggestion for the new gas prices to the State Commission for Energy and Water Regulation (DKEVR).

The Bulgargaz proposal provides for a natural gas price of BGN 653,46 for 1 000 cubic meters, with the 20% value-added tax not included, which is an increase by BGN 114,80. The new price would include a transit fee of BGN 19,73.

Bulgargaz justifies its proposal with the more expensive US dollar, whose value increased has increased by 15,39%. In addition, the statement of the monopoly reminds that the DKEVR did not approve its suggestion to increase the natural gas prices by 36% in the fourth quarter of 2008, and voted for a 24% increase instead.

Bulgaria’s DKEVR will decide on the new natural gas prices during its session on December 22 or 23, when it will also become clear how much the central heating costs would increase as the heating prices depend primarily on the natural gas prices.

On December 5, the Bulgarian cabinet decided to allocate BGN 160 M to Bulgargaz as part of a BGN 400 M anti-crisis package for the Bulgarian Energy Holding.

The funds would be used to cover Bulgargaz’s expenses for deferring the natural gas payments owed to it by Bulgarian businesses until the 300% decrease of the global oil prices kicks in, and brings down the natural gas prices of the Russian provider Gazprom.

According to the present scheme, Gazprom’s natural gas prices for Bulgaria are formed on the basis of the oil prices nine months ago. Thus, the present price levels are still based on the peak oil prices from the summer when a barrel of oil reached USD 147 on the world market.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘BULGARIAN BUSINESS – NOVINITE.COM’ (Spain)

Posted in BULGARIA, COMMERCE, COMMODITIES MARKET, DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, NATURAL GAS, RECESSION, RUSSIA | Leave a Comment »

SHARING THE RESPONSABILITY

Posted by Gilmour Poincaree on December 7, 2008

DECEMBER 3-8, 2008

by Michael Levitin

PUBLISHED BY ‘NEWSWEEK’ – Print Edition – (USA)

He was Chief of Staff to Chancellor Gerhard Schröder, the leading voice behind 'A BIGGER BREAK' - Frank-Walter Steinmeier says the crisis forced the U.S. to leave behind its traditions - Photo by Hans-Christian Plambeck (Laif-Redux)Germany’s refusal to fight in Iraq. Now German Foreign Minister Frank-Walter Steinmeier is the Social Democratic Party candidate for chancellor in next year’s elections, running against the popular Christian Democrat incumbent, Angela Merkel. In his first major interview with the U.S. press, Steinmeier sat down with NEWSWEEK’s Michael Levitin to discuss German troop engagements in Afghanistan, Russia’s recent aggression, the global financial crisis and how Germany might work alongside the United States. Excerpts:

LEVITIN: The day after Barack Obama won the U.S. presidency, Russian President Dmitry Medvedev threatened to install missiles in Kaliningrad if Washington did not “rethink” its deployment of a NATO missile shield in Eastern Europe. Did Moscow’s latest show of aggression shift the dynamic between Russia and Europe? How should you respond- and what should Europe’s response be?

STEINMEIER: Medvedevs announcement the day after the elections was clearly the wrong signal at the wrong time. We have no illusions about Russia. In the last few years it has often proved itself a difficult partner. The question remains how to deal with this huge country in Europe’s immediate neighborhood; having to choose between containment versus engagement, I advocate the latter. We must try to develop relations with Russia that go beyond economic interests and contribute to increased stability and security. After all, it is in our own interest to make sure that a Russia that is looking for its own identity is politically and culturally anchored in die West.

LEVITIN: Do you see Germany as a middleman, acting as a buffer between Russia and the rest of Europe-perhaps at the moment even Russia’s closest EU ally?

STEINMEIER: Russia is aware of our uniquely close relationship with the United States. We are firmly embedded in NATO and the EU and thus we don’t aspire to play the role of a middleman. Together with our European partners we showed a strong and outspoken response to Russia’s role in the conflict in Georgia. I think Europe’s united voice no doubt contributed to the military conflict ending. Now the stabilization of the region as a whole has to continue, and for genuine stability we need Russian cooperation. As for energy links between the EU and Russia, the answer depends on which European country you talk to. But in general, Russia depends as much on Europe and America buying its goods as we rely on Russia supplying us with natural gas and oil. As far as Germany is concerned, it is little known in the United States that we have worked successfully for decades to diversify our suppliers of various forms of energy and fuels, with Russia but also Norway and Africa being important suppliers.

LEVITIN: You mentioned the conflict In Georgia. Should that country and Ukraine be Invited to Join NATO?

STEINMEIER: This is not a simple yes-or-no decision. With national elections looming, the domestic situation in Ukraine has changed, as has the situation in the Caucasus since the conflict broke out this summer. Yes, we remain committed to supporting and assisting these countries on the road ahead. But concerning the Membership Action Plan, Germany and other European governments continue to stand by their position.

LEVITIN: The most urgent U.S. foreign-policy question involving Germany, which Obama raised many times during his campaign, is Afghanistan and whether Germany will contribute more troops there to stabilize the south. How much is your country willing to sacrifice for this partnership, putting its soldiers into harm’s way?

STEINMEIER: I have spoken to Barack Obama twice, and from these exchanges I know that he sees Afghanistan in a very nuanced way. I feel we see eye to eye in our assessment that we’re facing a very difficult security situation, but that military means alone cannot bring about the necessary changes. Our approach has to be a comprehensive one, and contrary to what some people may say, Germany has played its part.

LEVITIN: In the north, certainly. But It’s in the south where the greatest violence has taken place, and where Obama’s asking for greater German participation.

STEINMEIER: We have shouldered our share of the military responsibility and we have also enlarged our engagement. We are about to increase our troops by 30 percent, to 4,500. We are participating in aerial surveillance across the whole of Afghanistan, including the south, and German radio engineers are also stationed in Kandahar. The German Air Force runs flights for all NATO countries throughout Afghanistan, again including the south. We took over the lead of the Quick Reaction Force in the north. And let us not forget that circumstances there have also changed; the north, too, has seen its share of armed opposition activities increasing in the last month. But our engagement in Afghanistan is about much more than military action. We have always said that we will only be successful if we succeed in helping rebuild the country and its economy. Civil reconstruction is the second important pillar of our engagement on the ground, and we’ll continue to increase our contribution in this area next year.

LEVITIN: Given the turmoil in Pakistan, what do you think the next steps forward ought to be?

STEINMEIER: The security of the whole region strongly depends on Pakistan. If we want to combat terrorism in Afghanistan, we have to succeed in stabilizing Pakistan politically and economically. This calls for a strengthened Pakistani commitment to combat terrorism, but it also calls for international assistance for this country. It needs a substantial loan from the IMF. We also need to be ready to help stabilize the country in a lasting way.

LEVITIN: On Iran, what realistic hopes do you see of bringing Mahmoud Ahmadinejad to the table and persuading him to give up Tehran’s nuclear ambitions? And how far will you be willing to push?

STEINMEIER: No doubt there is hope in the international community that after 29 years of standstill, a new approach may be possible. We all remember the reasons for the break-off of relations between the U.S. and Iran. Since then, U.S.-Iranian relations have also been a story of missed opportunities: when Washington signaled openness, Tehran wasn’t willing or able to respond in kind, and vice versa. I think it would be worthwhile trying to have direct talks, but the Iranians have to know it is up to them to prove they do not aspire to nuclear weapons-and that they’re willing to play a constructive role in the region. I have to admit I am skeptical, and can only express my hope that the leaders in Iran seize this opportunity.

LEVITIN: Turning to the financial crisis, the banks got a bailout. Now the automobile manufacturers are seeking the same thing. How do you see EU countries regaining their competition policy-and their legitimacy-after this?

STEINMEIER: I believe the politicians would have lost their legitimacy if they hadn’t acted. What we’re facing here is the very visible failure of the market. We had to make sure that the crisis in the financial markets does not lead to a total breakdown of the financial system as a whole. On both sides of the Atlantic, unconventional means were applied to manage the crisis. Honestly speaking, many of the measures taken in the U.S. seemed a bigger break with American tradition than can be said about European measures.

LEVITIN: How important is it that developing countries play a greater decision-making role In the future? For example, we saw hints of the G8 expanding into a G20 several weeks ago in Washington.

STEINMEIER: What is the most fundamental challenge the world is facing today? To my mind, it consists of integrating the emerging powers of the 21st century into a system of shared global responsibility. I am talk ing about countries like China and India, but also Muslim states such as Saudi Arabia. Can any of the global challenges we face be tackled without them? I don’t think so. That is why we have to make them stakeholders, and in that respect the recent financial summit in Washington was historic. To me it is obvious we cannot stop there.

PUBLISHED BY ‘NEWSWEEK’ (USA)

Posted in 'DOHA TALKS', AFGHANISTAN, AFRICA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), CHINA, COMMERCE, COMMODITIES MARKET, DEFENCE TREATIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, EUROPE, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, FOREIGN POLICIES - USA, G20, G8, GEORGIA, GERMANY, INDIA, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL, INTERNATIONAL RELATIONS, IRAN, ISLAM, MILITARY CONTRACTS, NATO, NATURAL GAS, NORWAY, PAKISTAN, PETROL, RECESSION, RUSSIA, SAUDI ARABIA, THE ARMS INDUSTRY, THE EUROPEAN UNION, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE OCCUPATION WAR IN IRAQ, THE UNITED NATIONS, USA, WAR IN AFGHANISTAN, WARS AND ARMED CONFLICTS | 1 Comment »

ENDING AUSTRALIA’S OIL ADDICTION – AS AUSTRALIAN OIL PRODUCTION SLOWS AND CONSUMPTION GROWS, OUR ECONOMIC, ENERGY AND ENVIRONMENTAL SECURITY DEPENDS ON URGENTLY DEVELOPING FOSSIL FUEL ALTERNATIVES

Posted by Gilmour Poincaree on December 5, 2008

Last Updated – December 04th 2008

by John Mathews

PUBLISHED BY ‘CORPORATE CITIZEN’ (Australia)

Suddenly Australia is having the debate on energy and the curbing of greenhouse gas emissions that we should have been having years ago. But now we are actually talking – in the press, on radio, in boardrooms. And it’s not a faux debate, with nuclear power posing as a ‘green alternative’ – it’s a real debate over renewable sources, energy efficiency and how to effect a transition to a low-carbon economy.

With the debate about to move on to the specifics, the obvious place to start is with transport, because that’s where poor leadership in the past has saddled Australia with a 99.9 per cent dependence on oil.

Corporates in Australia are the prime users of the private transport system, and can take the initiative in weaning the country off its fossil fuel addiction. This is where good corporate citizenship can be tested.

To its great credit, the NRMA has taken up the challenge, and brought together a group of energy and transport experts known as the Jamison Group to draw up a roadmap to take Australia beyond oil dependence in transport. The group has now issued its first report and it deserves close scrutiny.

Today Australia consumes just over 38 billion litres of fuel annually for road and off-road vehicles – of which 19.3 billion litres comes from petrol, 2.3 billion litres from LPG (some of which comes from natural gas, and counts as an alternative), and 17 billion litres from diesel. A tiny amount – just 0.3 billion litres of E10 blend – can be counted as an alternative from biological sources. This, then, is less than 1 per cent of fuel sales (and with the ethanol itself accounting for only a tenth of this, or 0.1 per cent of total road transport fuel sales). This is the situation of total dependence on fossil fuels that successive governments have allowed to come to pass. The time for a fresh start has arrived – a start that is driven by three principal imperatives of economic security, energy security and environmental security.

Economic security means taking seriously the impending costs of remaining wedded to oil as our prime transport fuel at a time when imports of oil along with the price of oil relentlessly rising – a double whammy that makes the present cries of pain over fuel costs a mere whimper to what we can expect. So to enhance our economic security we must make a commitment to reducing our reliance on fossil fuels, and to rebuilding our industrial base, both to produce green and renewable energy and to use such energy sources preferentially – principally as a means of transport. Imported oil should carry a health warning: toxic to local economies!

Energy security means taking seriously the prospect of world oil supplies peaking (they may already be doing so) and thus highlighting the necessity of moving to an economy that is less and less dependent on oil as its driving force. Transport is in the front line here, because it starts with such near-total oil dependence. So moving away from oil dependence to relying increasingly on renewable and other low-carbon energy sources should be the guiding light in fashioning public policy. For transport options, that means supporting a new generation of electric-powered vehicles and new electric public transport systems for our cities, backed up with new industries for growing our own fuels (biomass, biooils, biogas, and first generation biofuels) and for making use of Australian-produced cleaner fuels such as natural gas.

Environmental security means taking the threats to our environment from the burning of fossil fuels seriously – from the planetary effects that are captured by the phrase ‘global warming’, to the local effects that are measured in terms of smog and air pollution in our cities, causing high levels of avoidable respiratory disease, cancer and other serious public health impacts. The immediate and short-term way to reduce such impacts is to insist that fuels sold in Australia meet the highest standards of fuel economy and health standards; while the longer term means of meeting the environmental threat involves again finding ways to rebuild our economy on a low-carbon footing. Geoscience Australia predicts that Australian production of crude oil plus condensate will hold at around 550,000 barrels per day until 2009 and then decline steadily, reaching a mid-range estimate of 224,000 barrels per day by 2025 (that is, a 50 per cent reduction) – as depicted in Figure 1. That means that oil production has already peaked in Australia.

As our domestic production peaks, so our imports of oil rise to keep up with relentlessly rising demand. The level of imports has risen by no less than 30 per cent in just four years – from 33.5 GL to 43.6 GL – a trend that commentators like Geosciences Australia see as continuing and getting worse.

Further, as the level of imports rises, so the balance of trade in petroleum products worsens. From a surplus in 2003 it has deteriorated rapidly, moving to a deficit in 2004 and reaching a huge deficit of nearly $10 billion in the current year.

So what is to be done?

First, we suggest the federal government announce a national goal of reducing oil dependence in Australia by 20 per cent by 2020; by 30 per cent by 2030; and by 50 per cent by 2050. A roadmap to reducing oil dependence should start with realistic goals that would seize public imagination in Australia and provide a benchmark against which all government policies could be measured. These goals would be subject to scrutiny by a panel of experts appointed by the government and required to report by 2009 on the feasibility of the goals and steps that could and should be taken to achieve them.

Secondly, promote and develop alternative fuels. The goal to reduce oil dependence should translate into a commitment to develop alternative fuels in Australia as well as to reduce consumption and improve energy efficiency generally. We need to encourage the development of three major alternatives to oil-based fossil fuels:

– Natural gas (CNG, LNG, LPG derived from natural gas);

– Biofuels (first generation ethanol and biodiesel; second generation lignocellulosic biofuels; bio-oils and biogas); and

– Electric vehicles (hybrids, plug-in hybrids and eventually all-electric vehicles).

These alternatives all provide opportunities to develop new industries in Australia, (subject to the most stringent environmental precautions, certification and development of national standards) that are on par with best international standards. There are vast opportunities for Australian businesses in such an approach.

Natural gas can be sourced from Australian reserves (some of which should be reserved for domestic use) and thus meet concerns over economic and energy security. Although natural gas burns more cleanly than petroleum, it is still a fossil fuel and contributes greenhouse gas emissions. As the national emissions trading scheme starts to bite, we see natural gas becoming the fuel of choice in power stations, thus competing as an end use with natural gas used in transport.

Biofuels are a natural candidate for expansion in Australia, but only in such a way that they are seen to be sustainable and deliver real greenhouse gas emissions improvements. This means expanding biofuels activities in such a way that they do not compete with food production and minimize fossil fuel inputs into the production process. Biofuels production should of course meet stringent environmental standards and be certified as such.

Electric vehicles are a promising automotive alternative, with zero tailpipe emissions, but they would not deliver real greenhouse gas gains at the moment because generation of electricity in Australia remains tied to the burning of coal. To the extent that power production responds to fresh policy initiatives (such as the national ETS) and renewable sources of electric power become available, so the electric car option will become more attractive.

Thirdly, we need compulsory fuel consumption standards. The best way to reduce oil dependence is to reduce the consumption of oil-based fuels in transport, through improvements in consumption standards and/or their equivalent in greenhouse gas emissions standards. This will be the single biggest saving on fuel costs that the government can offer to working families in Australia, no less than to the corporate sector.

Fourth, an alternative fuel market mandate. The best way to promote fuel alternatives is to set mandates for increasing market shares of alternatives. Alternative fuel industries will be built in Australia only to the extent that market mandates that break the grip of the petroleum industry on our fuels market are promulgated. Voluntary targets will not work, and urgent action is needed now to avoid the looming catastrophe of a balance of payments crisis caused by the costs of oil imports. We propose an alternative fuels mandate of 5 per cent by 2010, 10 per cent by 2015 and 20 per cent by 2020.

Such fuel market mandates can be found throughout the world where governments are serious about switching the fuel mix away from dependence on oil – in the EU, in the US, in Japan, and of course in Brazil where the feasibility of a non-oil transport fuel mix was first demonstrated. They should now be found in Australia as well. There are huge opportunities for Australian companies in such an approach.

Fifth, we need tax incentives to stimulate demand for vehicles running on alternative fuels or propulsion systems (for example EVs). The entire tax system, which is at present focused on raising revenue, should be refocused to accomplish a swing in the vehicle fleet towards flex-fuel vehicles running on both petroleum-based and alternative fuels; and towards vehicles that depart radically from oil dependence, particularly electric vehicles and hybrids. Vehicles and fuels that perform better would attract tax benefits, and vehicles that perform at current standards or worse would be penalized. In such an approach, corporates that modernise their vehicle fleets with fuel-efficient and low-emissions engines would attract tax incentives.

Six, we need tax incentives to grow new alternative fuels and to build the infrastructure needed. On the supply side, government can play a significant role in providing tax incentives to firms that are making investments in green energy. In transport terms this means offering incentives to automotive firms to shift to fuel efficient vehicles utilising new fuel efficient technologies (such as clean diesel); incentives to fuel distributors to offer a range of fuel dispensing systems including diesel, biofuels such as E10 and B5, and CNG; incentives to new biofuel producers building biorefineries to produce a range of first and second generation biogas, biooils and biofuels; and incentives to farmers to invest in new crops for producing energy without sacrificing our food production and export of food crops. The seventh suggestion is to identify the subsidies paid to reinforce current oil dependence and then wind them back. There exists a raft of explicit (as well as hidden) subsidies provided to fossil fuel industries in Australia, and one of the easiest ways for government to level the playing field is to dismantle these subsidies, explaining at the same time why it is doing so. The subsidies and incentives include tax benefits for cars provided by employers (but perversely excluding non-polluting forms of transport such as bicycles and public transport); import duty inequities for SUVs; non-recovery of public agency costs (such as the heavy industry support provided for the oil exploration industry); explicit fossil fuel tax concessions; fossil fuel energy R&D (such as massive expenditure in Australia on so-called ‘clean coal’ while winding back support for renewable energy R&D); the diesel fuel rebate scheme; and subsidies for road use and car parking.

Eight, we should use the proposed Emissions Trading System as a means of building alternative fuels industries. The proposed national emissions trading system is going to have to cover as many greenhouse gas emitting industries as possible if it is to function effectively. The fossil fuels industry, (with its mining and refining activities both intense emitters of greenhouse gases), cannot be allowed to be an exception. Already there is skirmishing underway, with claims that the transport sector should not be covered unless some other sector is also covered. These claims must not be allowed to progress. The counterpart to a compulsory emissions permit system is a system for allocating carbon credits to activities not covered by the ETS that reduce carbon emissions, or preferably sequester carbon already present in the atmosphere – as is done by carbon negative biofuels. As a complement to the proposed national ETS, the government could create a national mechanism for recognizing and certifying carbon credits (probably under the AGO) that would act in concert with, but across a broader range of activities, than the UN Clean Development Mechanism. Such certifiable credits could then be traded on carbon markets in Australia – giving a further financial incentive to farmers and producers of biofuels and other alternative fuels businesses (such as conversion kits suppliers) that could make a case to the AGO that they are creating carbon credits.

Finally, we need to drastically improve public transport, alternative modes of sustainable mobility and energy efficiency generally. The entire transport system in Australia has been weighted towards private mobility at the expense of public transport and sustainable mobility options such as cycling. A shift towards alternative fuels as a way of enhancing economic security, energy security and environmental security should be accompanied and complemented by a revitalization of public transport systems (inter-city rail; urban fast metros; light rail systems; mixed mode transport) and a new seriousness in promoting sustainable mobility alternatives such as cycling (cycle lanes and pathways; cycle rental and exchange depots).

(*) – The Jamison Group was established by the NRMA following the company’s Alternative Fuel Summit in 2006 and comprises four eminent scholars in the fields of energy and transport – David Lamb, Mark Diesendorf, John Mathews and Graeme Pearman

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘CORPORATE CITIZEN’ (Australia)

Posted in AEOLIC, AGRICULTURE, AUSTRALIA, BANKING SYSTEMS, BIODIESEL, BIOFUELS, BIOMASS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, ETHANOL, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, HYDROGEN - FUEL CELLS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, MACROECONOMY, NATURAL GAS, RECESSION, SOLAR, SOLAR CELLS INDUSTRIES, THE FLOW OF INVESTMENTS, THE WORK MARKET | Leave a Comment »

SUPER SUSTAINABILITY – CAN YOUR SUPER FUND SAVE THE WORLD?

Posted by Gilmour Poincaree on December 5, 2008

Last Updated – December 04th 2008

by John Kavanagh

PUBLISHED BY ‘CORPORATE CITIZEN’ (Australia)

Blair Comley wants people in the investment community to change the way they think about the Australian Government’s climate change policy. With over $1 trillion sitting in Australian superannuation funds, the scope for changing the investment landscape is huge. Even a subtle shift in investment decisions by the managers of this capital could go a long way to unlocking some of this money and, in turn, help to achieve those policy goals.

BLAIR Comley, deputy secretary of the Department of Climate Change, believes companies and investors have become obsessed with the detail and have lost the big picture. They worry about how much a tonne of carbon emissions will cost in the new emissions trading scheme. They worry about how quickly the limits on carbon emissions will be adjusted. They worry about whether they will qualify for compensation and how much they will be entitled to receive. And investors in particular will worry about how many percentage points to knock off their earnings forecasts for polluters.

Comley finds this thinking understandable but narrow. After all, he says, achieving a low carbon economy is a major reform, a structural transformation of the economy. One estimate of the amount of investment required to build clean power generation facilities in Australia to meet the Government’s goals over the coming decade is upwards of $40 billion. The opportunities for investment in infrastructure are enormous.

The other thing that surprises Comley is how impatient business is over the issue, especially the investment community. Speaking at a climate change conference in Sydney in October, he reminded his audience of mostly financial services industry professionals that economic reform is usually a graduated process. Using the example of tariff reform, a major micro-economic policy launched by the Hawke Government in the 1980s, he said it was part of the socio-economic compact to spread the burden of reform by bringing in change over a number of years.

And it is not just a matter of spreading cost in an equitable way. The government knows it risks causing serious damage to the Australian economy if it gets things wrong. One risk factor is leakage – companies moving their polluting activities to economies where the rules are less stringent to avoid having a price and a cap put on their carbon emissions.

The issue of climate change has taken on a great deal of importance for investment managers following the release in July of the Government green paper on the Carbon Pollution Reduction Scheme, and the Garnaut recommendations on emissions reductions. Both papers contain proposals that will have an impact on earnings, costs and investment programs for a wide range of Australian businesses over the coming decade, and both papers put forward a number of options.

The Carbon Pollution Reduction Scheme, also known as an emissions trading scheme, will set a price on a tonne of carbon emissions and determine which companies are included in the scheme and how they are to report their emissions. It will set up a compensation scheme and it will exempt certain industries (see breakout).

The Garnaut paper sets out the blueprint for emissions reduction and, in the process, points to the type of investment that will need to be made in renewable energy, transport, water systems and more.

The Government will publish a white paper in December and most analysts are waiting until then before they start drawing conclusions about how the investment markets will be affected by all of this.

Comley is right in thinking that the investment community is obsessed with detail and short-term issues. Respondents to a survey of fund managers conducted for Corporate Citizen by the Australian Centre for Corporate Social Responsibility (ACCSR) found that they were near-unanimous in saying they were not prepared to make investment decisions around climate change issues until they had a clear picture of the rules and the regulatory framework for the Government’s proposed carbon pollution reduction scheme.

It is those investment managers, analysts and asset consultants not ready to invest in climate change who are guiding the asset allocation decisions of the country’s biggest investors – the superannuation funds. Typical of the response is this comment from Elaine Prior, a senior analyst at Citi Investment Research: “Very clearly, we need a regulatory environment that allows change solutions to become economically viable. At the moment we have a lot of talk about climate change solutions and carbon emissions and so on but we don’t have a regulatory authority. And given that a lot of the things that will cut emissions will cost a lot of money, there needs to be that regulation to act as a catalyst for investment.”

Some specialist managers, however, report that they are finding investment opportunities. The managing director of Australian Ethical Investments, Anne O’Donnell, says an area where strong investor demand is emerging is for green commercial buildings. Community awareness of where energy savings can be made in buildings is relatively high and, as a result, tenants want to move into them and institutions want them in their portfolios.

Helga Birgden, head of responsible investment for the Asia Pacific at Mercer, says superannuation fund trustees with experience in investing in the agribusiness sector are starting to ask about how the issue of carbon sequestration fits into investment in the sector.

Managers in the small, specialist funds groups say the attention of large funds management groups has been caught by the imminent introduction of a system that will put a price on carbon emissions and have a direct impact on the earnings of many of the big companies in which they invest. But, like Comley, they see this as a very narrow focus. They need to look at renewables such as wind, which has demonstrated its viability already, consumer products that will assist households reduce their energy consumption, carbon capture technology, and suppliers to the public transport sector.

But the investment management industry is dominated by large financial institutions and they are fundamentally conservative organisations. Many of them have adopted standards such as UNPRI, the United Nations Principles for Responsible Investing, or ESG (environmental, social and governance) but they tend to use these metrics as overlays for making adjustments to their mainstream equity and fixed interest portfolios. In other words, they might reduce their portfolio weighting to steelmaker Bluescope if it shows up as a bigger polluter than OneSteel. What they are not doing is investing in clean energy start-ups or other businesses with a direct stake in climate change.

What many of the managers argue is that their mandate is to invest conservatively on behalf of people who are committing funds to their retirement savings. It is not their job to take risks on new ventures. And they also argue that the biggest impact of climate change policy will come from changes that big companies make to their business practices.

Survey respondent John Guadagnuolo, an investment manager at Portfolio Partners, says: “For instance, you might decide to invest in a company that participates in a process to capture carbon from coal-fired power stations. You are taking on significant risk because you are betting the carbon price will be high enough to pay off that investment. As a fund manager we might like low emissions or sustainability to be present in a company that we invest in but it’s not a deciding factor. If there’s too much risk it’s not something we can get into.”

Unspoken in all of this is the fear that investment managers have of being caught up in the next bubble, and the reputational damage that would follow. In 2000 the fund manager BT launched a fund called the BT TIME Fund. It was set up to invest in technology and new media and, coming on the crest of the dotcom wave, it was one of the most successful retail investment product launches ever. The wave crashed soon after and the BT fund has been a chronic underachiever ever since. It has reported an average annual loss of 14.5 per cent a year since its launch. No investment manager wants to be associated with such disasters and, in the case of clean technology, managers fear there are too many unknowns. Some investment managers say there has already been something of a bubble around biofuels and that the sector represents more hype than substance.

Some commentators argue that one reason there are too many unknowns is that the investment management industry has been slow to equip itself with the expertise that would allow it to make informed investment decisions in the sector. In October this year, the Financial Services Institute of Australia (Finsia) released the findings of a study it had undertaken with Griffith University Business School, looking into the preparedness of the financial services industry to respond to climate change and its capacity to do so. Like the ACCSR, it found that regulatory uncertainty was the biggest road block for investors, along with a perception that investment in emerging climate change technologies involved excessive risk and low returns.

But it also found that there was a lack of expertise, skills and knowledge about climate change throughout the industry. Finsia chief executive Martin Fahy says most investment managers were prepared to admit their engagement with the issue was inadequate and that there was a lack of leadership within their organisations pushing for change.

Some investment managers are prepared to concede this. Colonial First State head of sustainability and responsible investment, Amanda McClusky, says: “There’s a gap around education. The traditional training for an analyst is a finance degree and most of the education that analysts get does not include sustainability issues and, more broadly, social issues, reputation tracking, human capital and some corporate governance factors.”

The consensus among investment managers in the ACCSR survey was that in five or 10 years time climate change and sustainability will be mainstream investment issues. It took about 10 years for corporate governance to move from the fringe, where a handful of investment managers paid attention to issues of board independence, fair remuneration policies and transparency, to a situation today where investment managers are asked to justify why they don’t vote on director elections and remuneration proposals.

In the meantime, the field will have to be developed by a handful of specialists. One such specialist is Sean Wiles, an investment manager at CVC Sustainable Investments, a venture capital fund that aims to increase Australian private investment in renewable energy and enabling technologies through the provision of equity finance. (Funding is provided under the Australian Greenhouse Office’s Renewable Energy Equity Fund licence as well as from private sources.) Wiles reports that his fund has been investing in emerging Queensland gas producers such as Blue Energy. While gas is not exactly clean, it produces about 40 per cent of the carbon emissions of coal and receives favourable ESG scores from fund managers for that reason.

Wiles says he has trouble getting good research from brokers and investment bankers but has, nevertheless, been able to put together a portfolio of stocks in areas such as renewable energy, waste management and water. It all sounds great until you see the numbers: CVC has a mere $400 million invested across four funds.

In the end, it seems that a mix of strong, sound government policy as well as strong impetus from super clients is what is needed to shift money into climate-aware investment strategies. As Guadagnuolo says, “At the end of the day we’re a fund manager, not a venture capital firm. That makes a difference to how we see things. It’s not our job to develop new technologies, it’s our role to invest our clients’ money as we see prudent. As a venture capital firm you have much higher approval from your investors to take on risk.”

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘CORPORATE CITIZEN’ (Australia)

Posted in AEOLIC, AGRICULTURE, AUSTRALIA, BANKING SYSTEMS, BIOFUELS, BIOMASS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, HEALTH SAFETY, HYDROGEN - FUEL CELLS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, NATURAL GAS, RECESSION, RECYCLING INDUSTRIES, REFINERIES - PETROL/BIOFUELS, REGULATIONS AND BUSINESS TRANSPARENCY, SOLAR, SOLAR CELLS INDUSTRIES, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE WORK MARKET, WATER | 1 Comment »

NEW GAS EXPORT STRATEGIES (Iran)

Posted by Gilmour Poincaree on December 3, 2008

Thu, Dec 04, 2008

by Majid Karimi

PUBLISHED BY ‘THE IRAN DAILY’

The trilateral meeting between the leaders of Turkmenistan, Turkey and the Republic of Azerbaijan was held at It is difficult to predict the final stance of Turkmenistan toward the Nabucco pipeline, as nothing official has yet been made public.Turkmanbashi, Turkmenistan, on Friday.

Gurbanguly Berdymuhammedov, Abdullah Gul and Elham Aliev respectively discussed cooperation in the field of energy.

The meeting followed Berdymuhammedov’s visit to Germany and Austria, and negotiations for exporting gas to Europe. Of course, he has not made explicit comments regarding exports of gas to Europe via Nabucco or the trans-Caspian project.

The trans-Caspian project has not yet materialized due to ambiguities surrounding the Caspian legal regime, rift between Turkmenistan and Azerbaijan over a gas field and environmental problems.

Diversification

After the Turkmanbashi meeting, Financial Times reported Azerbaijan and Turkmenistan have reached an agreement about new strategies for exporting the Caspian Sea energy to consumer markets to curb the dependency of European states on Russian gas.

Based on this report, the European Union (EU) and the US have urged Turkmenistan to join the Nabucco pipeline project for transporting gas via Azerbaijan, Georgia and Turkey.

After meeting his Azeri counterpart, Berdymuhammedov said, “Turkmenistan and Azerbaijan, which are rich in hydrocarbon resources, have reached an agreement on diversifying the export routes for energy to the global markets.“

He emphasized that his country is keen on participating in the Nabucco pipeline project, but is under pressure for exporting its gas via Russia, which is the main market for Turkmen gas.

“Turkmenistan has signed a contract for supplying gas to China via the pipeline which is presently under construction,“ he said.

On the threshold of this trilateral meeting, Berdymuhammedov visited Germany and Austria during Nov. 13-19. In these visits, issues pertaining to the transport of Caspian Sea gas bypassing Russia were examined.

Manager of Azerbaijan’s Oil Projects Research Center Ilham Shaban noted that negotiations between the presidents of Azerbaijan, Turkey and Turkmenistan hints at more extensive cooperation among them in the energy sector than the Nabucco project alone.

Future meetings are not expected to focus on the gas project for building a pipeline through the Caspian seabed because at the presidential level, projects in their preliminary stages are not examined.

“So far, a few meetings have been held between representatives of Turkey and Turkmenistan in which the import of electricity and transport of gas via Iran were discussed. But, the last case did not materialize,“ he said.

The Azeri official noted that till now, no trilateral meeting was held between the leaders of Azerbaijan, Turkmenistan and Turkey.

“I should mention a similar case regarding how things proceeded regarding energy cooperation between Azerbaijan and Kazakhstan. Since November 2002, negotiations took place between Baku and Astaneh at different levels. This eventually led to an intergovernmental agreement between Azerbaijan and Kazakhstan regarding oil transport via the Baku-Tbilisi-Ceyhan pipeline. Hence, the meeting in Turkmenistan is another step to this end,“ he said.

Since the Commonwealth of Independent States gained their independence in 1991, Azerbaijan has had good economic ties with Turkmenistan and Turkey.

“I personally believe that in future negotiations between the presidents of these countries, more issues will be examined,“ he said.

Shaban further said it is difficult to predict the final stance of Turkmenistan toward the Nabucco pipeline, as nothing official has yet been made public, except a communiquŽ expressing Turkmenistan’s desire to diversify its gas supply.

“Interestingly enough, it has been mentioned that gas will be transported to China from fields located above Amudarya, from northern Dolatabad to Russia via the pipeline alongside the Caspian Sea and whatever is found in the western part of Turkmenistan will be transported to the West,“ he said.

It seems that Turkmenistan has determined, after 17 years of independence, where and how gas should be transported in a viable manner.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE IRAN DAILY’

Posted in CENTRAL BANKS, CHINA, COMMERCE, COMMODITIES MARKET, COMMONWEALTH OF INDEPENDENT STATES, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, EUROPE, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, GERMANY, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, IRAN, KAZAKHSTAN, NATURAL GAS, REGULATIONS AND BUSINESS TRANSPARENCY, RUSSIA, THE FLOW OF INVESTMENTS, TURKEY, TURKMENISTAN, UZBEKISTAN | Leave a Comment »

ECC APPROVES GAS LOADSHEDDING (Pakistan)

Posted by Gilmour Poincaree on December 3, 2008

December 03, 2008 Wednesday Zilhaj 4, 1429

by Mubarak Zeb Khan

PUBLISHED BY ‘DAWN’ (Pakistan)

ISLAMABAD, Dec 2: The Economic Coordination Committee (ECC) of the cabinet approved on Tuesday a new schedule for load-management of natural gas for winter to overcome a possible shortfall.

The shortfall may exceed 500 million million cubic feet per day (mmcfd) in December and February and 600 mmcfd in January.

A meeting of the ECC, presided over by Adviser to Prime Minister on Finance and Revenue Shaukat Tarin, approved a summary prepared by the petroleum ministry aimed at maintaining uninterrupted supply of gas to domestic consumers, independent power producers and CNG stations for the transport sector.

Under the schedule, gas supply to the cement sector will be suspended from December to February and to the industrial sector it will be reduced by 50 per cent.

While fertiliser companies will carry out their annual maintenance, no gas will be provided to Wapda during the three months.

The schedule was finalised by a committee in consultation with the stakeholders.

The ECC asked the petroleum ministry to ensure uninterrupted supply of gas to domestic consumers. The burden of reduced supply will be shared by the power sector and industry.

On the recommendation of the ministry of water and power, the meeting approved a proposal to extend the tariff provisions of the 2002 power policy and the mechanism developed by Nepra to hydropower projects under the 1995 hydel policy with minimum changes in project agreements.

For increased availability of power, the ECC allowed rental power projects the same tax treatment as applicable to rental power projects under Wapda’s jurisdiction.

The meeting also approved a market intervention price of Rs1465 per 40kg for seed cotton during the 2008-09 season on the basis of current export parity price. The ministries of food and agriculture and commerce have been asked to work out an efficient procurement plan that benefits small farmers and keeps the price stable. The food and agriculture ministry has been asked to make timely announcement of the intervention price.

The ECC allowed procurement of 750,000 tons of additional wheat with better specifications and in a manner that domestic requirements were met satisfactorily and the wheat stock position remained adequate.

The ECC approved a credit guarantee scheme for small banks to help them maintain liquidity through availability of credit facilities from the State Bank. The scheme will be implemented by the SBP which will ensure its effective utilisation and sound operation of the banking system.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘DAWN’ (Pakistan)

Posted in AGRICULTURE, BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, FARMING SUBSIDIES, FERTILIZERS, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NATURAL GAS, PAKISTAN, RECESSION, THE FLOW OF INVESTMENTS, WATER, WHEAT | Leave a Comment »

ALGERIA URGES RUSSIA, NORWAY, MEXICO TO JOIN OPEC – Energy minister calls on three countries to join cartel or cut their output to show solidarity to group

Posted by Gilmour Poincaree on December 3, 2008

First Published 2008-12-02 – Updated 2008-12-02 16:05:18

PUBLISHED BY ‘MIDDLE EAST ON LINE’

ALGIERS – Algerian Energy Minister Chakib Khelil, the current president of OPEC, on Tuesday urged Russia, Norway and Mexico to join or cut their crude production to show solidarity with the group.

“What we really want is for these countries to become members of OPEC,” Khelil said on the sidelines of a conference of the Organization of the Petroleum Exporting Countries in Algiers, according to APS news agency.

“I don’t see why Russia can’t be a full-fledged member of the organisation. It’s the best way to express solidarity,” he said.

If the three countries refuse to join OPEC, they should reduce oil production, Khelil said.

“We don’t need an agreement to stand by countries that share the same goal. If they have problems (joining OPEC), they should just apply their intended reductions.”

Russia, a top world oil producer, is not a member of OPEC, but has held regular consultations with the organisation.

Russian Deputy Prime Minister Igor Sechin last week said Moscow had prepared a draft memorandum on cooperation with the 13-member cartel.

OPEC secretary general Abdalla Salem El-Badri said Monday the cartel may decide on a “major” output cut when it meets in Oran, Algeria, on December 17.

OPEC has already slashed output twice this year by a total of two million barrels per day in response to plunging prices but fears remain that a global recession could ravage demand for energy.

Oil prices have fallen under 50 dollars a barrel.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘MIDDLE EAST ON LINE’

Posted in ALGERIA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, MEXICO, NATURAL GAS, NORWAY, OPEC, PETROL, REFINERIES - PETROL/BIOFUELS, RUSSIA | Leave a Comment »

ARAB ECONOMIES TO GROW DESPITE SETBACKS

Posted by Gilmour Poincaree on December 2, 2008

December 1, 2008 at 9:10 AM EST

OXFORD ANALYTICA – Exclusive – PUBLISHED BY ‘THE GLOBE AND MAIL’ (Canada)

SUBJECT: The impact of the world economic downturn on Arab economies.

SIGNIFICANCE: In contrast to the severity of the downturn in other parts of the world, the Arab world appears likely to experience relatively moderate losses. However, certain countries may be particularly vulnerable.

ANALYSIS: The IMF’s latest downward revisions of growth rate projections for 2009 place Arab countries in third place at 5.3 per cent after China and India at 8.5 per cent and 6.5 per cent respectively, although World Bank figures are somewhat less optimistic. Positive growth prospects reflect two key factors:

Macroeconomic fundamentals are positive, in particular the prospects for sustained investment growth, which will be driven by accumulated oil revenues and continuing oil incomes.

Regional capital markets, which have been hit by the crisis, are among the smallest and least significant in emerging markets.

Investment. Buoyant investment activity is now and will continue to be supported by oil income and wealth: The current account surplus of oil economies is expected to double to some $132-billion (U.S.) in 2008 against $77-billion in 2007.

Arab sovereign wealth funds possess at least $1.53-trillion in assets, with considerably more in reserves and accumulated private wealth.

Despite the slashing of oil revenues due to the present fall in oil prices, accumulated assets are likely to make up the difference from a regional standpoint – although particular countries may suffer.

Intra-Arab foreign direct investment has been rising steadily, from $8.8-billion between 1985-1995, to nearly $17-billion between 1995-2002, to $77-billion between 2002-07, with $14-billion in 2007 alone: FDI accounts for 12 per cent of regional capital formation compared to 7.8 per cent in developing countries as a whole.

GCC investors are now investing around 25 per cent of their oil wealth in the region compared to 15 per cent in 2003.

In oil, gas and energy, $520-billion worth of projects are planned for 2009-2013, down from a projected $650-billion before the crisis; even if only $400-billion worth are financed, $8-billion to $10-billion a month of investment will take place.

The crisis in Europe and the United States will strengthen the need for geographic diversification, and will confirm intra-Arab investments as a key category in Arab portfolios.

Investors will likely diversify away from real estate and tourism into other sectors such as food, transport, and medical diagnostics.

There have been official promises to maintain intra-Arab capital and investment flows, although the use of resources in domestic bailouts may limit the fulfilment of such commitments.

Market losses. The four largest markets – Dubai, Egypt, Kuwait, and Saudi Arabia – have lost up to half of their value, mirroring heavy losses elsewhere. Another four markets – Abu Dhabi, Bahrain, Qatar, and Oman – registered relatively moderate losses of 20-40 per cent. All had fallen from historical highs in summer, 2008.

There are a number of channels of contagion from global financial markets:

Exits by non-Arab investors have most seriously affected the more open Arab stock markets, namely those of Egypt and the United Arab Emirates.

Exposure to the US prime and sub-prime markets has affected players in Kuwait, Qatar and the UAE.

A more significant channel is heightened fear and uncertainty about the unfolding global recession; the region’s markets, whose trends have been dominated by excitement and herd behaviour, joined the global panic.

Negative sentiment overwhelmed the effects of positive fundamentals, including the strong results of many listed corporations for the first half of 2008.

Mitigated impact. Yet there are good reasons to believe that the falls in Arab markets will be less enduring, and have less negative broader impact, than in markets elsewhere:

The fall in OECD financial markets is the most severe in decades; in contrast, wild swings in the region are common.

Arab stock markets are highly volatile, narrow and illiquid; only a small proportion of total capitalization is traded.

The dominance of financial institutions in market indices made their fall in the present crisis inevitable; financials constitute 56 per cent of the S&P’s Pan Arab index, compared to 16 per cent in the Latin America index and 36 per cent for Africa.

Remarkably, the four smallest markets – Beirut, Jordan, Morocco, and Tunis – retained gains, indicating that intra-Arab investments have constituted a successful portfolio diversification strategy.

Arab markets are still constructing operational and regulatory structures. Gaping holes remain in corporate governance rules and practices, and the culture of retail investors is still underdeveloped. In 2007-2008 a series of investigations targeted insider dealings and share manipulation. Fines were handed to listed firms, brokers, and investment companies in Jordan, Egypt, UAE, Saudi Arabia, and Oman. However, the relative unsophistication of markets and their lesser significance in the broader economies has shielded Arab countries from the worst effects of the financial crisis.

Slowdown. The downside risks are not to be underestimated in a deep and complex world crisis: Oil revenues will be dented by declining world demand, forcing oil-rich countries to engage in belt-tightening and possibly threatening FDI flows to other Arab countries.

The cost of finance, in terms of spreads, has already risen to all-time highs, and all types of capital raised are below 2007 levels.

Falls in exports will cause losses across the region; many once-booming industries such as petrochemicals and fertilizers are now faced with sliding markets.

Falls in tourism will hit players such as Morocco, Egypt, and Dubai; falls in remittances will hit North African countries.

Dubai’s fall is likely to be the sharpest, linked as it is to the bursting of an enormous real estate bubble; mortgage lending had quintupled in the last five years, and government debt is high at around $70-billion.

Egypt, which is poor and heavily indebted, is likely to be hit hard by declines in the stock market, oil and gas income, and Suez revenues; even a moderate downturn is likely to feed growing public discontent.

CONCLUSION: Losses on Arab stock markets have wiped out abnormally high returns, but not the prospects of solid positive returns. The region is finally drawing on what has long underpinned East Asian and European growth: domestic and intra-regional investment. Supported by ample reserves and SWF resources, this strength should help the region to weather a world recession. Growth prospects are therefore dented, but remain positive.

From the Oxford Analytica Daily Brief

Copyright 2008 – Oxford Analytica Ltd. All rights reserved.

Founded in 1975, Oxford Analytica’s 1,000+ analysts provide international organizations with monitoring, research and consultancy services that explore the strategic implications of policy, economic, financial, industry, trade and security developments around the world.

www.oxan.com

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE GLOBE AND MAIL’ (Canada)

Posted in BANKING SYSTEMS, CENTRAL BANKS, CHINA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, EGYPT, ENERGY, EUROPE, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, IMF, INDIA, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, ISLAMIC BANKS, ISLAMIC DEVELOPMENT BANK, LYBIA, MACROECONOMY, MOROCCO, NATURAL GAS, OPEC, PETROL, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE ARABIAN PENINSULA, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA, WORLD BANK | Leave a Comment »

LA CAIXA SUPEDITA LA VENTA DE SUS ACCIONES DE REPSOL A UN ACUERDO ENTRE SACYR Y LUKOILLAS COTIZACIONES DE LAS TRES EMPRESAS SUBE MÁS DEL 8% – La suma de ambos paquetes accionariales obligaría a lanzar una OPA – La Caixa podría participar en la financiación de la otra operación

Posted by Gilmour Poincaree on November 21, 2008

Actualizado viernes 21/11/2008 12:39

por Javier González

MADRID.- Criteria Caixacorp negocia con la petrolera Lukoil la venta de su participación en Repsol YPF Logo ruso de Lukoil - Foto - EFEsi ésta logra un acuerdo paralelo con Sacyr Vallehermoso. “Si – la compañía rusa – alcanza un acuerdo con Sacyr para la compra de su participación en Repsol, – la filial de La Caixa – podría incorporarse parcialmente a la venta”, ha reconocido Criteria en un comunicado remitido a la Comisión Nacional del Mercado de Valores (CNMV).

Si Lukoil pactase la compra de la totalidad de ambos paquetes, el 20% de Sacyr Vallehermoso y el 12,68% de Criteria Caixacorp (9,8% directa), estaría obligada a lanzar una OPA por superar el 30% de la petrolera española, aunque el ofrecimiento “parcial” de La Caixa podría evitar este compromiso. Ambas compañías, que a diferencia de Sacyr Vallehermoso fueron suspendidas de cotización al inicio de la jornada, han vuelto al parqué.

La Caixa, que asegura “no tener conocimiento” de que el grupo constructor haya pactado nada con la petrolera rusa, ha anunciado también que celebrará una reunión con otras entidades bancarias para tratar la financiación de esta operación.

Otra inversora con la que podría estar negociando Lukoil es Mutua Madrileña. Según Europa Press, fuentes próximas a Mutua Madrileña aseguran que negocia la venta de su 2% de participación con la petrolera rusa.

Criteria Caixacorp (+0.22 / +9.44%), brazo inversor de La Caixa, ha puesto así nombre a los “contactos informales” con los que negocia la venta de “toda o parte” de su participación en Repsol.

Por su parte, Repsol YPF (+0.63 / +4.63%) es el centro de atención por el interés de Lukoil en adquirir una participación del 30% en la compañía.

Sacyr Vallehermoso (+0.74 / +10.05%), propietaria de una participación del 20% en la petrolera que es objeto de interés de Lukoil, no ha sido suspendida en Bolsa y su cotización se disparaba al abrir la jornada.

La principal accionista de Repsol puso a la venta sus acciones para poder hacer frente a la crisis inmobiliaria. Así, la constructora conseguiría liquidez para aliviar la abultada deuda del grupo constructor e inmobiliario, que asciende a más de 18.000 millones.

El presidente del Gobierno, José Luis Rodríguez Zapatero, dejó abierta la puerta a una hipotética entrada de la petrolera rusa en Repsol porque es privada y su accionista mayoritario, con un 20% de su capital social, es la compañía estadounidense ConocoPhilips.

No obstante, el presidente del Gobierno aseguró que el Ejecutivo permanecerá “atento para que las cosas se hagan bien y sean favorables a los intereses estratégicos de España”.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘EL MUNDO’ (Spain)

Posted in COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, FINANCIAL MARKETS, FOREIGN POLICIES, FUELS, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, NATURAL GAS, PETROL, RUSSIA, SPAIN, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

TURKEY TO INVEST $12 BILLION IN IRAN

Posted by Gilmour Poincaree on November 20, 2008

20 Nov 2008, 1544 hrs IST

AGENCIES

TEHRAN: Turkey will invest $12 billion in Iran’s Pars offshore gas field, said Turkish Energy Minister Hilmi Guler.

“Turkey will invest $12 billion on developing phases of South Pars offshore gas field in southern Iran and construction of gas pipeline from Assalouyeh to Turkish border,” Hilmi Guler said yesterday.

Referring to the agreement signed by Iran’s Oil Minister Gholam Hussein Nozari and Guler in Tehran, Guler termed the agreement as vital.

“We will implement all bilaterally inked agreement,” the Turkish minister said.

Iran and Turkey inked a memorandum of understanding (MoU) according to which Turkey will invest in developing phases 22, 23 and 24 of Iran’s South Pars gas field and will buy 50 per cent of its produced gas when the project is completed.

As per the MoU, Turkmenistan’s gas will be transferred from Iran to Turkey and Iran will pipe its gas to Europe through Turkey.

Iran will transfer 35 billion cubic meters of Turkmen gas to Turkey annually.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, IRAN, NATURAL GAS, THE FLOW OF INVESTMENTS, TURKEY | Leave a Comment »

OPEC REDUX: RESPONDING TO THE RUSSIAN-IRANIAN GAS CARTEL

Posted by Gilmour Poincaree on November 15, 2008

Published: November 14, 2008

Ariel Cohen (Middle East Times) by Ariel Cohen (Middle East Times) (*)

MOSCOW – Steadily and stealthily, a natural gas cartel has emerged over the last seven years. On Ariel Cohen, the usually obnoxious 'scarecrow' with a PhD ...Oct. 21 in Tehran, the Gas Exporting Countries’ Forum (GECF) agreed to form a troika which will direct the future cartel. Russia, Iran, and Qatar announced they will form a yet-unnamed group “to coordinate gas policy.” The troika will meet to coordinate and control close to two-thirds of the world’s gas reserves and a quarter of its gas production.

Russia prefers to coordinate energy policies with Tehran, recognizing that together they control roughly 20 percent of the world’s oil reserves and about half of global gas reserves, offering tremendous geo-economic power.

The United States should create an international coalition of energy consumers to oppose energy cartels. The U.S. Congress should also allow energy exploration in the Arctic, the Rocky Mountains, and along the continental shelves and expand cooperative gas ties with Canada.

Russia’s Global Gas Strategy

In the tight global energy market, Russia clearly appreciates the bargaining power that its energy resources provide, as it attempts to control energy exports from the New Independent States, such as Azerbaijan, Kazakhstan, Turkmenistan, and Uzbekistan. Russia also has strengthened its ties to Iran, Venezuela, Libya, and other energy exporters. Recently, Moscow also launched a “charm offensive” on OPEC.

Russia is playing a sophisticated game to maximize its advantage as the leading gas producer with the largest reserves on the planet as well as the second largest oil exporter.

Russia’s approach was gradualist. Moscow had never openly shown enthusiasm about a gas cartel but waited for an opportunity to launch one. Yet, the cartel reportedly was a brainchild of the Russian prime minister and former president, Vladimir Putin.

Russia’s approach was also stealthy. Instead of announcing the cartel prematurely and spooking consumer countries, it quietly put the component parts into place. Until the Tehran declaration, Russia was able to appear reasonable.

At the Doha meeting in April, members of the GECF agreed to discuss dividing the consumer markets between them, particularly in Europe. Russia and Algeria are already major players there, and Iran may join them in the next decade. This will clearly challenge the European Union’s energy liberalization and gas deregulation policy, which took effect on July 1.

Geopolitical Clout

The troika and GECF members are planning to “reach strategic understandings” on export volumes, schedules of deliveries, and the construction of new pipelines. They plan to explore and develop gas fields and coordinate startups and production schedules. Despite protestations to the contrary, the GECF has all the trappings of a nascent cartel, and the troika includes its founding members. These founders will expand cooperation beyond their relationship through the GECF and drag other gas producers with them.

The new group will provide its three leaders with greater geopolitical advantage. If this new cartel expands, Russia and Iran will gain clout over Eurasian gas suppliers, such as Azerbaijan, Turkmenistan, Kazakhstan, and Uzbekistan.

Major gas producers such as Iran, Russia, Qatar, Turkmenistan, Brunei, and Venezuela have one feature in common: a democracy deficit. All three members of the new cartel share this dubious quality. Just like OPEC, the gas cartel will be a force that can be used to challenge and possibly weaken market–based democracies through energy prices and wealth transfer. Such a cartel may cut deals with undemocratic large-scale consumers, such as China, while forcing the West to pay full price.

Coordinated Global Action Needed

The U.S. George W. Bush administration barely reacted to the Tehran and Doha meetings. Officials express concern, but only in private. The European Commission merely stated that it opposed price-fixing cartels in principle.

As the case of OPEC demonstrates, closing markets to competition, promoting national oil companies, and limiting production results in limited supply and higher oil prices. Gas will not be different.

What the U.S. Can Do

The United States should open its vast natural gas resources onshore and offshore to further exploration and production and encourage its neighbors in Canada, Mexico, and the Caribbean to do the same.

The next administration should work with the European Union, Japan, China, India, and other countries to prevent the cartelization of the gas sector. This can be accomplished through cooperation with the International Energy Agency, which China and India should be invited to join, and by applying anti-trust legislation worldwide against state-owned companies that are actively involved in cartel-like behavior in energy markets.

Finally, the United States should work closely with those within GECF who oppose Russian-Iranian domination, including Azerbaijan, Canada, the Netherlands, and Norway. The National Security Council and the National Economic Council should take the lead in developing this policy. Unless buyer solidarity is translated into action, energy consumers and economic growth will suffer worldwide.

(*) – Ariel Cohen, Ph.D., is senior research fellow in Russian and Eurasian Studies and International Energy Security in the Douglas and Sarah Allison Center for Foreign Policy Studies, a division of the Kathryn and Shelby Cullom Davis Institute for International Studies, at The Heritage Foundation.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘MIDDLE EAST TIMES’ (Egypt)

Posted in COMMERCE, COMMODITIES MARKET, COMMONWEALTH OF INDEPENDENT STATES, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, FINANCIAL CRISIS 2008/2009, FUELS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, IRAN, LYBIA, NATURAL GAS, OPEC, PETROL, QATAR, RUSSIA, THE ARABIAN PENINSULA, THE EUROPEAN UNION, THE FLOW OF INVESTMENTS, VENEZUELA | Leave a Comment »

FARMERS SEE MONEY IN COW MANURE, OTHER SOURCES (USA)

Posted by Gilmour Poincaree on November 14, 2008

Thursday, November 13, 2008 – Added 24h ago

by Robert Rodriguez / McClatchy Newspapers

TULARE, Calif. – With energy costs high and crop prices sluggish, farmers are turning to solar power, Better take good care of my poohconverting animal waste to natural gas and planting exotic trees to help them survive a tough economy.

Farmer and entrepreneur David Albers is among those using technology to boost revenue at his 2,800-cow dairy and that of many others.

Albers is president of BioEnergy Solutions, a company that builds facilities to extract methane gas from cow manure.

Unlike other systems that use the gas to power farm buildings, Albers’ company collects it, processes it, then pumps it into a pipeline to be sold to Pacific Gas & Electric Co.

He and participating dairies benefit by getting paid for the gas while also managing their cow waste in a more environmentally friendly way.

Albers said he has contracts and or letters of intent with 100 dairies in California’s central San Joaquin Valley to join the project.

“It has been a tough road, and a lot of people said that this would not work, but I am happy to say we are pumping gas,” said Albers, who owns Vintage Dairy in western Fresno County.

Air quality officials attending the recent Farming Clean Energy Conference in Tulare spotlighted the Albers company and the use of fuel-cell technology as examples of using waste to create power without producing harmful emissions.

“This is the wave of the future,” said Dave Warner, director of the permit services division for the San Joaquin Valley Air Pollution Control District. “These two technologies will really be at the forefront.”

The conference was designed to demonstrate clean energy potential while also showing off examples of successful clean energy projects and the challenges to create them.

Ray Allen, CEO of Emerald Energy, is hoping a hybrid tree called the MegaFlora will be planted by farmers as a source for biofuel.

The tree, Allen said, can be grown in the worst soil and with about eight times less water than it takes to grow corn.

Allen, a botanist and worldwide consultant, said the tree can grow 60 feet in about three years and can produce about one barrel of oil per tree.

He is working with several farmers in various parts of the state, including Stratford farmer Ceil Howe who is growing the tree in a nursery on his ranch.

“People want to know if we can grow this on land that is polluted, and the answer is ’Yes, we can,’” Allen said.

Phil Erro has embraced another environmentally friendly practice on his Fresno County almond farm. He is using the sun to help grow his trees and fatten his budget. Erro installed a 28,000-watt solar photovoltaic system on his ranch to power a water pump.

He has 12 arrays with 16 panels each. Erro estimated that as much as two-thirds of the power he needs to run his pumps is solar generated.

“It has really paid off,” he said.

© 2008, The Fresno Bee (Fresno, Calif.)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE BOSTON HERALD’ (USA)

Posted in BIOMASS, COMMODITIES MARKET, ECONOMY, ENERGY, ENVIRONMENT, INDUSTRIAL PRODUCTION - USA, NATURAL GAS, USA | Leave a Comment »

RUSSIA TO SUPPLY 55 BLN CU M OF GAS TO UKRAINE IN 2009 – GAZPROM

Posted by Gilmour Poincaree on November 14, 2008

18:59 – 11/ 11/ 2008

© RIA Novosti

MOSCOW, November 11 (RIA Novosti) – Russia will supply at least 55 billion cubic meters of natural gas THE BLUE STREAM GAS PIPELINE - GAZPROMto Ukraine in 2009, energy giant Gazprom said on Tuesday.

Oleh Dubina, head of the Ukrainian national oil and gas company Naftogaz, and Gazprom CEO Alexei Miller held talks on Tuesday in Moscow on natural gas supplies to Ukraine and the conclusion of a long-term gas supply contract until 2019.

“Agreements were reached that at least 55 billion cubic meters of natural gas will be supplied to Ukraine in 2009,” Gazprom said in a statement. Ukraine has imported around 55 billion cubic meters of gas annually in the past few years.

Talks between Gazprom and Naftogaz on a long-term natural gas deal could be completed in the near future after “considerable progress” was made on Tuesday, the Russian energy giant’s press service said.

“The parties made considerable progress on a long-term contract for gas deliveries to Ukraine and a deal for gas transit through the country. There is mutual understanding on pricing for 2009 and talks on the issue are expected to be completed in the near future,” Gazprom said.

The price of natural gas for Ukraine in 2009 and subsequent years has not yet been agreed. Kiev hopes that the price will be around $250 per 1,000 cubic meters next year. This year, Ukraine has been paying $179.5 per 1,000 cu m.

Dubina said on Monday that he hoped a pricing formula based on the price of natural gas in Europe, earlier mentioned by Ukrainian Prime Minister Yulia Tymoshenko, would not be used in the next three-year period of transition to market prices.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘RIA NOVOSTI’

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, EUROPE, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, NATURAL GAS, RUSSIA, UKRAINE | Leave a Comment »