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Chinese giant to buy US oil assets: company Oslo (AFP) Nov 4, 2009
Norwegian energy group Statoil said Wednesday it was selling some of its US offshore oil assets to China's state-owned CNOOC, marking the first step by a Chinese energy major into the US market. The sale, announced along with Statoil's quarterly results, involves a limited stake for the China National Offshore Oil Corporation (CNOOC) in four exploitation licences for deepwater blocks bought ... read moreChina gets its first grip on Arab oil supplies
Baghdad (UPI) Nov 4, 2009 Baghdad's deal Tuesday with BP and the China National Petroleum Corp. to invest $15 billion in the giant Rumaila oil field to help rebuild Iraq's ramshackle oil industry gives energy-hungry China its first real grip on Middle Eastern oil. But the 20-year contract carries immense risk as another bout of sectarian savagery looms in Iraq. Still, China has demonstrated that it's ... more
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Brazil's Petrobras signs 10-bln-dlr Chinese loan accord
Rio De Janeiro (AFP) Nov 4, 2009Brazil's state-run oil group Petrobras said Thursday it has signed a contract permitting the first payment from a 10-billion-dollar loan from China to help it finance upcoming investments. The credit, offered by the China Development Bank, will underwrite Petrobras' developments up to 2013. It is conditioned on Petrobras supplying oil to the Chinese refining company Sinopec over the next ... more Australian oil spill recovery plan could take 7 years: company
Sydney (AFP) Nov 4, 2009Monitoring the clean-up of a huge oil spill in pristine Australian waters could take as long as seven years, an official said Wednesday as environmentalists urged a wide-ranging inquiry into the disaster. As many as 28,000 barrels of oil have gushed into the Timor Sea off Western Australia's northern coast in the 10 weeks since the West Atlas oil rig began leaking, raising concerns of an ... more High-Performance Plasmas May Make Reliable, Efficient Fusion Power A Reality
Washington DC (SPX) Nov 05, 2009In the quest to produce nuclear fusion energy, researchers from the DIII-D National Fusion Facility have recently confirmed long-standing theoretical predictions that performance, efficiency and reliability are simultaneously obtained in tokamaks, the leading magnetic confinement fusion device, operating at their performance limits. Experiments designed to test these predictions have ... more US, EU start 'clean energy economy' talks
Washington (AFP) Nov 4, 2009The United States and the European Union opened high-level talks Wednesday aimed at boosting chances of switching "to a clean, sustainable energy economy," US Energy Secretary Steven Chu said. Cabinet ministers from both sides, in Washington for the first meeting of the US-EU Energy Council, discussed tackling energy security and markets, energy policies and regulation, energy technologies ... more |
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Oil prices rebound on weak dollar, US, Chinese data
New York (AFP) Nov 2, 2009Oil prices rebounded Monday, buoyed by a weaker dollar and positive US and Chinese economic data that bolstered hopes of stronger demand in the two biggest energy-consuming nations. New York's main contract, light sweet crude for delivery in December, jumped 1.13 dollars to 78.13 dollars a barrel. The benchmark contract had tumbled 2.87 dollars Friday. In London, Brent North Sea crude ... more Wave energy moves to underwater grid link
Pennington, N.J. (UPI) Nov 2, 2009 The prospect of generating large volumes of electricity and then distributing power through underwater grid lines is nearer with successful tests announced Monday. New Jersey-based Ocean Power Technologies Inc. said it tested the feasibility of setting up wave power substations underwater and linking the pods to grids on land for onward transmission of the electricity to consumers. The ... more Australian oil rig blaze 'out of control'
Sydney (UPI) Nov 2, 2009 A massive fire on a leaking oil rig off the coast of West Australia continued to burn out of control Monday. The fire broke out on Sunday as workers on the West Atlas rig were attempting to plug the leak that has been spewing oil into the Timor Sea for more than two months. The rig, operated by Thailand-based PTTEP Australasia, is located about 125 miles off the Kimberley coast. ... more Harvesting Energy From Nature's Motions
Durham NC (SPX) Nov 03, 2009By taking advantage of the vagaries of the natural world, Duke University engineers have developed a novel approach that they believe can more efficiently harvest electricity from the motions of everyday life. Energy harvesting is the process of converting one form of energy, such as motion, into another form of energy, in this case electricity. Strategies range from the development of ... more |
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