International

Keystone XL Pipeline Wins Senate Support

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With a bipartisan majority vote of 62-37, the Senate demonstrated its support for Keystone XL pipeline construction for the first time.

On March 22, the US Senate voted in favor of an amendment that supports construction of TransCanada’s Keystone XL project, a 1,700-mile pipeline that would transport crude oil from Canada to Texas refineries. The amendment, introduced by Sen. John Hoeven (R-ND) and Max Baucus (D-Montana), passed the Senate by a 62-37 margin, with 17 Democrats joining all Republicans in the vote of support. Sen. Frank Lautenberg (D-NJ) abstained from the vote due to illness. Sens. Hoeven and Baucus also have proposed a separate bill that would facilitate Congressional approval of the project under the Commerce Clause of the Constitution, bypassing the decision-making authority of President Obama. Keep reading →

 /  Published March 28, 2013 at 8:30 AM

Alberta Energy Minister Hughes Discusses Options if Keystone XL not Approved, and More

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An industry source told Breaking Energy last November the two greatest challenges companies operating in Alberta’s oil sands region face are access to markets and skilled labor. Alberta Energy Minister Ken Hughes elaborated on these and other issues during a recent phone call.

In a scenario where the Keystone XL Pipeline is not approved by the Obama Administration, Minister Hughes said companies have lots of different options and that rail has become “compelling.” Although generally less efficient than transporting oil via pipeline, rail could be used to bring Canadian oil as far as the Gulf Coast and maybe the West Coast and Mid-continent as well, he said. Keep reading →

 /  Published March 25, 2013 at 3:00 PM

Mega Oil Deal ‘More Important Than Cyprus’: Rosneft Chief

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As politicians in Cyprus scramble to clinch a bailout deal to avert a collapse of its banking sector, Rosneft and BP finalized a deal to create the world’s largest listed oil major, an agreement Rosneft’s CEO hailed as “more important than the situation in Cyprus”.

Rosneft completed the acquisition of BP subsidiary TNK-BP on Thursday. It gives BP a near 20 percent stake in the Russian oil firm. The U.K.-listed oil giant announced Friday that it will buy back $8 billion of its shares, and return some of the proceeds to shareholders. Its stock rose 2.83 percent in morning trade on Friday. Keep reading →

 /  Published March 22, 2013 at 3:30 PM

Sustainable Development Goals the Focus at UN Meeting

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A thirty member open working group charged with setting new development goals for the United Nations finished a round of meetings in New York this week, marking out initial progress on following up to the Rio+20 meetings last year and setting the groundwork for new standards that will impact the way the growing NGO sector performs its work.

“The General Assembly working group is mandated to submit a report, containing a proposal for sustainable development goals for consideration and appropriate action to the 68th Session of the General Assembly, which would start in September 2013,” the UN said in announcing the end of the meetings. “By late 2014,” General Assembly President Vuk Jeremic said, “member states should be in a position to promulgate the Sustainable Development Goals-the single most important element of the post-2015 agenda.” Keep reading →

 /  Published March 20, 2013 at 10:30 AM

Brazil’s Petrobras Approves $236.7 Billion Investment Plan

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Brazilian state-run energy company Petroleo Brasileiro SA, or Petrobras, said late Friday that it plans to invest $236.7 billion over the next five years, maintaining spending and production targets at the same levels as last year plan. The 2013-2017 investment plan remains one of the world’s largest corporate spending plans, but is up only marginally from the $236.5 billion Petrobras earmarked for investments in the 2012-2016 period. Petrobras has been criticized by analysts and investors because its hefty investment spending has not resulted in increased crude oil production, despite finding some of the world’s largest oil discoveries in 20 years.

 /  Published March 18, 2013 at 10:00 AM

UAE’s Masdar Inaugurates World’s Largest Concentrated Solar Plant

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An enormous solar power plant is taking shape in the desert, and Breaking Energy is there to see it.

The project’s importance to the country and region, as growing economies and populations in the Middle East and North Africa require increasing amounts of energy, is self-evident. The fact that an Opec country has taken this step underscores the need to generate electricity from all available sources, particularly sources other than valuable hydrocarbons. Keep reading →

 /  Published March 18, 2013 at 9:00 AM

Why Pipes Matter: The Importance of Clad Pipe in the Oil and Gas Industry

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The theme of this Q&A is “Why pipes matter.” Can you address this question in a
nutshell?

A. Definitely. As you know, the era of cheap, easy oil is over. The International Energy Agency estimates that 70 percent of the world’s remaining oil reserves consist of crude oil with either high sulfur or CO2 content that requires high quality, corrosion-resistant materials. In order to keep up with demand, oil companies must identify new technologies to develop these heavy oil reserves. The same is true of gas – gas from more than 50 percent of the world’s gas fields is highly corrosive. In these challenging environments, oil and gas developers need to leverage every available technical solution to maintain optimal production. A key element is the integrity of risers and flowlines, which is where corrosion-resistant clad pipe comes into play. Keep reading →

 /  Published March 15, 2013 at 1:30 PM

America’s Share of the Global Solar Market Grew Strongly in 2012

By Greentech Media


It may not compare to the German solar market. But the U.S. is definitely becoming a major force globally when it comes to new installations.

According to the 2012 Solar Market Insight report from GTM Research and the Solar Energy Industries Association, America installed 3,313 megawatts of solar capacity last year — accounting for 11 percent of total global installations. That’s up from 7 percent in 2011. Keep reading →

 /  Published March 15, 2013 at 11:00 AM

Smart Grid Markets on the Move

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An interesting new report from Pike Research puts a spotlight on virtual power plants (VPPs) which, while not a new concept, appear to be ready for prime time. Pike’s research suggests that after a decade of pilot projects testing and validating VPPs as a smart grid platform, we will see significant growth over the next few years.

Pike is forecasting the total worldwide capacity of VPPs will jump from 3,800 megawatts this year to 15,400 MW by 2020 – a five-fold increase. Keep reading →

 /  Published March 15, 2013 at 9:00 AM

Canadian Government and Business Leaders ‘Frustrated’ with Keystone XL Debate

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The controversial Keystone XL Pipeline was very much on the agenda at today’s FT Global Investment Series: Focus on Canada event held in New York City, with government officials and business leaders using strong language to underline the importance of US – Canadian trade relations with regard to the pipeline.

“For the record, I would note that is no small irritant to some in Canada that our American friends focus on the current and future emissions from the oil sands while, here in the United States, a far greater environmental impact is caused by hundreds of coal-fired plants that remain in operation,” said Jim Prentice, Senior Executive Vice President and Vice Chairman at CIBC. Keep reading →

 /  Published March 14, 2013 at 8:45 AM
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