Archive for the ‘Commodity And Energy’ Category
Wednesday, May 14th, 2008 |
The Minister of State, Minister of Ecology, Energy, Sustainable Development and Urban Planning, has introduced a decree authorising the creation of the France International Nuclear Agency at the Atomic Energy Commission.
The creation of this Agency forms part of the French approach regarding international cooperation in the civil nuclear field, which was desired by the President of the French Republic.
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Tuesday, April 15th, 2008 |
The Strategic Oil Reserves are being located at Visakhapatnam, Mangalore & Padur. The construction activities of Strategic Oil Reserves at Visakhapatnam have already begun. For the Mangalore Project, tenders for pre-qualification of bidders are being issued. Construction activities at Mangalore are expected to commence during the current financial year. As regards the Padur project, pre-construction activities such as survey for land acquisition, application for environmental clearances and pipeline route survey are in progress.
The three sites will together hold 5 Million Metric Ton (MMT) crude oil reserves, which is equivalent to about 14 days’ cover on consumption basis and 19 days’ cover on net import basis of 2006-07.
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Tuesday, March 25th, 2008 |
A press release from Bahrin Embassy in US says that that Bahrain’s Foreign Minister, His Excellency Shaikh Khalid Bin Ahmed Al-Khalifa, and US Secretary of State Dr. Condoleezza Rice today signed a Memorandum of Understanding (MOU) on Nuclear Energy Cooperation between the United States and Bahrain.
The signature of this MOU is an important element in Bahrain’s overall development strategy. It aims to ensure the stability and diversity of its energy supplies, which is critically important for the continuing growth of Bahrain’s energy-intensive industries in light of declining domestic
hydrocarbon resources and a tightening international market.
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Sunday, March 23rd, 2008 |
Saab will build up yet an integrated security system, this time at Oskarshamn nuclear power station, OKG. The contract is worth SEK 392 million.
“We have signed an historic agreement with Oskarshamns Kraftgrupp AB (OKG). Probably the largest private security procurement ever made in Sweden. Over the next two years we will deliver all the technology required to protect this highly critical part of social infrastructure”, says Saab Communications vice business unit manager Michael Höglund.
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Wednesday, February 27th, 2008 |
BP replaced its annual production by 112 per cent in 2007, taking its proved reserves of oil and gas to 17.8 billion barrels. It also added some 2.4 billion new barrels to its non-proved resource base which now stands at a further 42.1 billion barrels of oil equivalent.
Assuming a $60 oil price, the strength of this position – reinforced by recent access to new opportunities in Oman, Libya and Colombia, along with heavy oil in Canada – supports production potential of around 4.3 million barrels a day by 2012, BP chief executive Tony Hayward said today.
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Friday, February 1st, 2008 |
Greenbelt Resources Corporation, a leading innovator in the development of effective and economical alternative energy technologies, announced today that Master Recycling Center, Inc., has increased its earlier order of 2 million gallons, to 5 million gallons of ethanol per year. Diversified Ethanol Corporation(TM), a subsidiary of Greenbelt Resources Corporation will begin construction of the new facility in Pomona, California with completion planned for late spring/early summer of 2008.
“Our 100% owned subsidiary, Diversified Ethanol Corporation, is focused on producing valuable renewable energy from substances that presently are considered waste - in this case converting energy produced by breweries and soft drink manufacturers among others.” said Robert Johnson, chairman and CEO of Greenbelt Resources. “This development is exciting for both companies,”
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Sunday, January 27th, 2008 |
Mitsubishi Heavy Industries, Ltd. (MHI) has submitted an application for standard design certification (DC) for the US-APWR, the company’s 1,700 MWe (electric megawatt) class advanced pressurized water reactor (PWR) for the U.S. market, to the U.S. Nuclear Regulatory Commission (NRC).
MHI completed the DC application preparation process within a short period of about a year and a half, as the company had planned, and the completeness of its technical documents already submitted to the NRC for pre-application review has been acknowledged. TXU Power in Dallas, Texas - now Luminant Power - has already selected the US-APWR design for its planned new nuclear power plants. MHI’s submission of the DC application indicates that the US-APWR project is now progressing steadily toward actual plant construction.
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Wednesday, January 23rd, 2008 |
GMX RESOURCES INC. announced that its year end 2007 estimated proved reserves grew 69% year over year to 437 Bcfe; proved developed grew to 36% of total reserves, an increase from 30% last year. 436 gross/296 net Cotton Valley (”CV”) wells made up most of the proved undeveloped reserves, with a ratio of 1.59 PUD wells for each producing well. The average estimated ultimate recovery for the PUD wells in this report ranges from 1.1 Bcfe to 1.5 Bcfe and a weighted average of 1.271 Bcfe which is lower than 1.33 Bcfe per CV PUD well in the year end 2006 reserve report, primarily due to the estimated impact of development on 20 acres instead of 40 acres.
An additional reduction is caused by the self imposed restriction of using only producing wells on our property base and not averaging the wells in the area into our estimated well performances for our estimated PUD reserves. The PV 10% (present value discounted at 10%) of the estimated future net revenues (before taxes) from proved reserves is $715 million using year end NYMEX commodity prices of $7.48 for natural gas (which constitute 94% of the
proved reserves) and $95.98 for crude oil.
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Tuesday, January 22nd, 2008 |
A Book Review
“Reliance - The real Natwar” by By Arun Agarwal . Published Manas Publications, New Delhi, London, India. Price in India Rs: 495, Overseas $30. ISBN No. 9788170493006
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Posted in Commodity And Energy, Military and Strategic Book Review | No Comments »
Wednesday, January 16th, 2008 |
Calgon Carbon Corporation announced today that it will re-start an idle production line at its Big Sandy plant to produce up to 70 million pounds of FLUEPAC(R) powdered activated carbon to meet anticipated demand from the electric utility industry. The cost of the project, which is scheduled for completion in early 2009, is estimated to be $20 million.
The additional capacity is planned to be used to remove mercury from coal- fired power plant flue gas, which is mandated in some states by 2009. Until it is fully utilized for mercury removal, the line will partially be used to satisfy demand for granular activated carbon (GAC) in Calgon
Carbon’s traditional markets.
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Tuesday, January 15th, 2008 |
Tamm Oil and Gas Corp. is pleased to announce that it has acquired 100 percent ownership of an additional 21 sections of oil sands leases in the Peace River region of Northern Alberta. This acquisition increases Tamm’s holdings in the region, to potentially fuel the company’s growth, as worldwide demand and prices for petroleum continue to rise.
“In a very short time, Tamm has increased its lease holdings. Over the past 4 months, we have managed to acquire direct and indirect ownership in 90 sections of leases and licenses. With oil prices hitting new record highs on a consistent basis, we have quickly positioned Tamm to potentially be a major player in the Canadian Oil Sands supply chain for years to come,” says Wiktor Musial, President of Tamm Oil and Gas.
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