World Bank rejects energy industry notion that coal can cure poverty

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World Bank’s climate change envoy: ‘We need to wean ourselves off coal’ Bank has stopped funding new coal projects except in ‘rare circumstances’ The World Bank said coal was no cure for global poverty on Wednesday, rejecting a main industry argument for building new fossil fuel projects in developing countries. The Guardian – Suzanne Goldenberg @suzyji In a rebuff to coal, ... Read More »

China Answers Japan Oil Rig Concern With Joint-Development Offer

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China repeated a call Friday for talks with Japan over joint development of gas and oil resources in contested waters in the East China Sea. BloombergBusiness – The offer comes days after Japan disclosed a map and photographs of what it said were 16 Chinese marine platforms close to Japan’s side of a geographical median line that it contends should ... Read More »

Japan finds China’s expansion in East China Sea ‘extremely regrettable’

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Japan warns China making new platform China warns those ‘meddling’ in the South China Sea The Age – Philip Wen, China correspondent for Fairfax Media Beijing: The Japanese government has released a map and aerial photos detailing Chinese oil and gas exploration platforms it said proved Beijing was accelerating plans to unilaterally exploit an oilfield that straddles disputed waters in the ... Read More »

Military ready to secure oil explorers

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The Armed Forces of the Philippines (AFP) on Monday expressed its readiness to provide security to any group that will conduct deepwater oil exploration in the South China Sea (West Philippine Sea) as long as the activity is done within the country’s exclusive economic zone (EEZ). Fernan Marasigan, | The Manila Times, Philippines Lt. Col.Noel Detoyato, chief of the AFP ... Read More »

Proposed new political party in the Northern Territory reveals first policy: ‘say no to fracking’

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A new political party being formed in the Northern Territory has said it is opposed to hydraulic fracturing, or fracking. ABC Darwin – Emma Masters The controversial practice, which involves pumping water, sand and chemicals at high pressure to fracture rock layers to extract natural gas, has been criticised by some community and pastoral groups. The Northern Territory Government released ... Read More »

Can oil and gas fix Greece’s economy?

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Greece is turning to offshore oil and gas as a potential source of revenue, despite having almost no existing oil and gas production to begin with. The Christian Science Monitor – By Nick Cunningham, Greece is in an economic depression. Whether or not it agrees to the ruinous terms imposed upon it by its creditors in order to obtain a ... Read More »

Mexico opens up oil industry for first time in 80 years

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BBC – For the first time in nearly 80 years, Mexico has opened up its oil industry to foreign investors, selling off 14 exploration blocks in the Gulf of Mexico. However, only two of the blocks were sold in the auction, falling short of the government’s expectations. Bidders were expected to sign new contracts with the Mexican state to explore, produce ... Read More »

Russia mulls direct energy supplies to Greece in near future – energy minister

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RT – Moscow is considering direct energy supplies to Greece, Russia’s Energy Minister Aleksandr Novak has said, adding that the country wants to help Greek recovery by expanding economic cooperation. “Russia intends to support the recovery of the Greek economy by increasing cooperation in the energy sector. Therefore we are looking into options for facilitating direct energy supplies to Greece ... Read More »