Peak Oil in the News

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Peak Oil News Saturday January 20th 2007

Brazil's Gas and Oil Reserves Decline
(AP via Yahoo! Finance: Mon, 15 Jan) Brazil's gas and oil reserves edged down slightly in 2006, the state-run oil firm Petroleo Brasileiro SA, or Petrobras, said in a release.

NRP Completes Buy Of 92 Million Tons Of Coal Reserves
(Logistics Management: Tue, 16 Jan) Natural Resource Partners said Tuesday it completed its purchase of 92 million tons of coal reserves from Dingess-Rum Properties. The deal also included nearly 34,000 acres of surface and timber.

Czech Republic taps reserves after oil supply knocked-out by high windsin Ukraine
(Interfax: Fri, 19 Jan) PRAGUE. JANUARY 19. INTERFAX CENTRAL EUROPE - The Czech Republic has tapped into its oil reserves to make up for a halt in supplies along the Druzhba pipeline, caused by gale force winds knocking out a pumping station in Ukraine, spokesperson for Czech oil pipeline operator Mero, Renata Fialova, told Interfax Friday.

Petsec targets US gas and oil reserves
(News Interactive: Mon, 15 Jan) ASX300 energy company Petsec will drill on the US mainland in a bid to double its gas and oil reserves.

Statoil partnership gives up on Snohvit oil
(Energy Business Review: Fri, 19 Jan) Norwegian oil company Statoil and its partners in the Snohvit partnership have concluded that the development of oil reserves associated with the Snohvit gas field, located in the Barents Sea, is not economic and so plans to exploit the feature have been abandoned.

Oil lower as report shows higher reserves
(RTÉ News: Thu, 18 Jan) Oil fell today after an official report showed that US crude oil inventories rose by much more than expected in the past week. The Department of Energy said crude oil reserves rose 6.8 million barrels to 321.5 million in the week ended January 12.

Gas Reserves Below Expectations in Myanmar's A-1 Block
(Rigzone: Wed, 17 Jan) Myanmar's offshore A-1 block, where ONGC Videsh Ltd and GAIL (India) Ltd hold a 30-percent stake, may hold recoverable reserves of 4 trillion cubic feet-less than half as previously indicated.

Iraqi oil law close
(AME Info: Thu, 18 Jan) Iraq's oil committee has agreed on the final draft of a law that sets out rules for sharing revenues and boosting production from the country's underdeveloped oil reserves, Reuters reported.

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