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Suncor slapped with environmental fines in Alberta A Canadian court slapped Suncor Energy Inc and a contractor it hired with more than C$1 million in fines on Thursday for environmental infractions at the company's northern Alberta oil sands operations. Topix.netOil jumps above $52 as stock market surges Oil prices surged nearly 9 percent today as investors focused instead on a weaker dollar, rising stock markets and the hope that the U.S. economy has finally bottomed out. Natural gas prices also rose even though a government report said U.S. inventories remain well above historical levels. Houston ChronicleFeds drill for more data to craft energy policy The Obama administration needs more research before it can tailor a strategy for harvesting available energy resources in the U.S., according to a report released today by the Interior Department. President Obama has made clear that he's big on alt energy options – but said during his campaign that he would consider off shore drilling on leased land in combo with development of renewable energy sources in a push to make the U.S. independent of foreign oil. [More] Scientific AmericanInternational oil conference opens in Paris, EU Ministers from oil rich Gulf states and the chiefs of two of Europe's largest oil companies opened a conference Thursday on the industry's future amid a gloomy economic outlook for the world's biggest energy consumers. Topix.netAriens: Ariens Co. Introduces AMP(TM), First Retail, Premium Brand Electric Riding Lawn Mower BRILLION, WI (MARKET WIRE) Ariens Company today announced the launch of the AMP(TM) Rider, an all-electric riding lawn mower, which delivers as much drive and cutting power as a conventional gas-powered riding mower without the emissions, oil, belts or noise associated with gasoline-powered mowers. Market WireAgraQuest, Inc: BASF and AgraQuest Announce Agreement for the Bio-Fungicide Serenade(R) LUDWIGSHAFEN, GERMANY and DAVIS, CA (MARKET WIRE) BASF (DAX: BAS) and AgraQuest, Inc have entered into a license, supply and distribution agreement for Serenade®, a leading bio-fungicide product with highly effective disease control. The deal will allow BASF to distribute existing Serenade products. The parties have agreed not to disclose financial terms. Market WireMud Flood: Indonesian Eruption Also Spewed Oil A massive mud flow that has buried villages, a highway and other structures near the city of Sidoarjo in East Java, Indonesia, (aka Lusi, for Lumpur Sidoarjo) spewed oil for more than a week in late March, according to geologists there. The threat of oil in the mix added to the health and environmental risks from the mud eruption that was most likely caused by oil drilling gone awry. The mud volcano has displaced 30,000 people and caused roughly $1 billion in damage since erupting on May 29, 2006, according to geologists at the Durham University in England.About two years ago, Indonesian oil company Lapindo Brantas drilled a well into pressurized rocks in an East Java oil field. But something went wrong when the well breached rocks somewhere around 9,000 feet (3,000 meters) underground, depressurizing the fluid in the rocks below. [More] Scientific AmericanOil companies: underinvesting can spark price spike The global economic crisis is leading international oil and gas companies to under-invest in new capacity, which threatens to spark renewed sharp increases in oil prices once the crisis ends, executives from two of Europe’s leading oil companies warned today. Houston ChronicleTemperature Sensing Fiber Optic Cable for Security Applications Through effective collocation,it can carry out real time monitoring to the place,the fiber optic cables sensors are used in oil field or chemistry industries. Physicsworld.comKUFPEC seeks new assets Kuwait Foreign Petroleum Exploration Company, the international investment arm of Kuwait Petroleum Company, is urgently seeking to buy corporate acquisitions and oil-producing assets, and it is not too picky about what to buy, Shayma Amin, an international business analyst and petroleum engineer with KUFPEC told The National. Charged by KPC with nearly doubling its output by next year, the company is looking to negotiate one or more major deals by the end of this year that would add at least 10,000 barrels of oil equivalent per day (boepd) of oil and gas production and 30 million barrels equivalent of reserves, he said. [AMEInfo.com] AME1 2 |
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