24/7 Oil and Gas News Coverage
August 02, 2012
ENERGY TECH
Iraqi Kurdistan says will resume oil exports
Arbil, Iraq (AFP) Aug 2, 2012
Iraq's Kurdistan region said it will resume oil exports during the first week of August as a confidence-building measure, after stopping them for more than four months following a row with Baghdad. Kurdistan halted oil exports to the federal government on April 1 over $1.5 billion it said is owed to foreign oil companies working in the region, that Baghdad has allegedly withheld. If the exports resume, the move would represent an improvement in relations between Baghdad and Arbil, which have bee ... read more

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AEROSPACE

JAL net profit more than doubles to $343 mn
Japan Airlines, which just two-and-a-half years ago went bankrupt in one of the country's worst corporate failures, said Thursday first quarter net profit more than doubled to 26.9 billion yen ($342.75 million). ... more
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ENERGY TECH

China reports oil extraction success
A pilot project in China to obtain oil from complex geological structures has been successful, the country's largest oil and gas producer says. ... more
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ENERGY TECH

Gas plant plans could threaten fossils
Paleontologists in Australia say important 130-million-year-old fossilized dinosaur footprints are threatened by plans to build a liquid natural gas refinery. ... more
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24/7 Energy News Coverage
Amazon takes on iPad with new Kindle Fire tablet

Hong Kong to restrict foreign homebuyers from 2013

US judge OKs partial settlement in e-book case

Nordic-Baltic states seek more cooperation

Outside View: Jobs outlook grim

Empire-style computers? Frenchman takes PCs to lap of luxury

Google-Microsoft field smartphones to take on iPhone 5

EU businesses urge China's new leaders to speed reforms

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ENERGY TECH

Exxon Valdez to be dismantled in India
The giant tanker Exxon Valdez, involved in one of the world's worst oil spills, can be dismantled at a ship-breaking yard in Gujarat, an Indian court has ruled. ... more
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AEROSPACE

US, allies renew opposition to EU airline tax
The United States and 16 other nations Wednesday renewed their "strong opposition" to a controversial EU carbon tax on airlines, vowing to work for a multilateral global solution. ... more
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ENERGY TECH

Argentina to drill for oil near Falklands
Argentina is taking its offshore oil exploration program closer to the Falklands waters as part of its campaign to assert a sovereignty claim on the British overseas territory in the South Atlantic. ... more
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ENERGY TECH

Falklands tensions rattle oil investors
Diplomatic tensions with Argentina over the Falklands are rubbing salt into the wounds of investors who poured millions into an offshore quest for oil and natural gas that remains disastrously futile. ... more
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24/7 News Coverage
Deep-sea mining poses new threat to sharks, rays and ghost sharks
Hydropower emerges as Southeast Asia's hidden force in driving down carbon emissions
An Aussie tycoon bets billions on cleaning up iron ore giant
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AEROSPACE

E-jet deal opens Venezuela for Embraer
A $900 million deal for the Brazilian sale of 20 E-190 commercial jets has opened newly confirmed Mercosur member Venezuela as a potential major market for regional aviation and defense suppliers. ... more
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CAR TECH

US auto sales grow but GM, Ford stumble
US auto sales posted their best July performance since 2007 on Wednesday, but results were mixed as Ford and General Motors stumbled to a loss as rivals Chrysler, Toyota and Honda saw big gains. ... more
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ENERGY TECH

Iraq oil revenues up $1 billion in July
Iraq's revenues from oil, which account for the lion's share of the country's income, were up by about $1 billion in July compared to the month before, an oil ministry spokesman said on Wednesday. ... more
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AEROSPACE

US challenges EU with rival airline tax talks
The United States will this week host a meeting of some 16 nations opposed to a controversial EU carbon tax on airlines, aiming to draw up an alternative plan, a US official said Monday. ... more
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ENERGY TECH

Philippines offers up China-claimed oil prospects
The Philippines will offer three oil and gas exploration contracts in the disputed South China Sea later Tuesday, including two in areas claimed by China, an official said. ... more
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ENERGY TECH

US imposes new sanctions on Iran oil sector
US President Barack Obama on Tuesday imposed new economic sanctions on Iran's oil export sector and on a pair of Chinese and Iraqi banks accused of doing business with Tehran. ... more
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ENERGY TECH

French Total signs Iraqi Kurdistan oil deal
French energy giant Total said on Tuesday it has signed an oil exploration deal for areas in the Kurdistan region of northern Iraq, putting it on a collision course with the central government in Baghdad. ... more
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AEROSPACE

US challenges EU with rival airline tax talks
The United States will this week host a meeting of some 16 nations opposed to a controversial EU carbon tax on airlines, aiming to draw up an alternative plan, a US official said Monday. ... more
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ENERGY TECH

BP plunges into net loss on huge $5.0-bn writedown
British energy giant BP said Tuesday that it plunged into a second-quarter net loss, hit by lower output, falling oil prices and a near $5.0-billion (4.1-billion-euro) writedown on the value of assets. ... more
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ENERGY TECH

Philippines hits out at Cambodia in China row
The Philippines said Tuesday it had summoned Cambodia's ambassador to explain comments he made accusing it and Vietnam of playing "dirty politics" in trying to solve a maritime row with China. ... more
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BIO FUEL

German National Academy of Sciences issues a critical statement on the use of bioenergy
In a statement on the chances and limits of using bioenergy, the German National Academy of Sciences Leopoldina has come to the conclusion that in quantitative terms, bioenergy plays a minor role in ... more
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AEROSPACE

Darker wings for monarch butterflies mean better flight
For monarch butterflies, redder wings are correlated with better flight performance, according to research published July 25 in the open access journal PLoS ONE. Previous work has shown that m ... more
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CAR TECH

Honda quarterly profit jumps fourfold to $1.7 bn
Honda Motor said Tuesday its net profit surged more than fourfold to $1.7 billion for the three months to June, underscoring a recovery from the impact of last year's quake-tsunami disasters. ... more
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AEROSPACE

U.S. OKs Israeli systems deal for F-35s
A reported agreement by the Pentagon and Lockheed Martin to install Israeli-made electronic warfare systems in 19 F-35I Joint Strike Fighters ordered by the Jewish state gives a major boost for the $2.75 billion deal that has been worrying the Israelis. ... more
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AEROSPACE

In mock air war, US pilots face wily 'aggressor'
In the skies over Las Vegas, a high-stakes game is unfolding but the players are fighter pilots instead of gamblers and nothing is left to chance. ... more
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ENERGY TECH

US regulators claim insider trading in Nexen deal
US regulators have secured a court order to freeze assets of traders accused of seeking more than $13 million through illegal trades ahead of China-based CNOOC's public bid for Canadian oil firm Nexen Inc. ... more
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Military Space News, Nuclear Weapons, Missile Defense
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ENERGY TECH

Pipeline grid to bypass Hormuz vulnerable
The United Arab Emirates and Saudi Arabia have developed a pipeline network across the Arabian Peninsula to bypass the strategic Strait of Hormuz, a key oil artery that Iran threatens to close. But this could still be vulnerable to sabotage. ... more
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ENERGY TECH

China appoints officers to South China Sea garrison
China has appointed military officers at a newly-established garrison in the South China Sea, state media reported Friday, the country's latest step to bolster claims to disputed islands in the area. ... more
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AEROSPACE

Hackers could haunt global air traffic control: researcher
Air traffic control software used around the world could be exploited by hackers to unleash squadrons of ghost planes to befuddle those entrusted to keep the skies safe, a security researcher said Thursday. ... more
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ENERGY TECH

Chevron damages bill in Ecuador rises to $19 bn
Chevron has been ordered to pay more than $19 billion in environmental damages, $1 billion more than originally decided, after an Ecuadoran court adjusted the amount on appeal, a source said Thursday. ... more
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ENERGY TECH

South China Sea: a decades-long source of tension
Rival claims to the South China Sea have for decades been a source of tension in the region. Below are key facts on the sea and the competing claims: ... more
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ENERGY TECH

Author of US fracking study had gas industry ties: watchdog
A university study that claimed fracking for gas deep beneath the Earth's surface did not cause water contamination was led by a US professor with financial ties to the gas industry, a watchdog group said Friday. ... more
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AEROSPACE

Clemson researchers transform machine to make runways safer
Clemson researchers redesigned and modified a mobile drill press to retrofit a section of a runway that halts overrun aircraft, ultimately minimizing aircraft damage and passenger injury. The proces ... more
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CAR TECH

Nissan's profit down 15% on strong yen, Europe woe
Nissan on Thursday posted a 15 percent drop in quarterly profit as a strong yen and weak European market dented earnings, but Japan's second-biggest automaker said its full-year forecast was on track. ... more
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