Energy News

Brazil spending $160M on nuclear-propelled sub

AP - 33 minutes ago

RIO DE JANEIRO, Brazil - Brazil will spend US$160 million by the end of next year on the development of a nuclear-propelled submarine to protect the oil reserves found recently off its coast, the defense minister said Friday.

  • Jim Palin, father of Todd Palin, displays a photo of Alaska Gov. Sarah Palin's beauty queen competition photo, black and white, a 1991 photo of Sarah and her husband Todd, center, and a prom photo of Sarah and Todd, back, at his house in Wasilla, Alaska Friday Aug. 28, 2008. The Alaska governor was picked by Sen. John McCain as his presidential running mate. (AP Photo/ Al Grillo)
    Palin candidacy raises eyebrows in Alaska AP - 40 minutes ago

    ANCHORAGE, Alaska - Alaska Gov. Sarah Palin's reputation as a crusading reformer after pushing through higher taxes on oil companies has been tarnished by revelations that members of her staff tried to have her former brother-in-law fired from his job as an Alaska state trooper.

  • US officials are prepared to tap the government's strategic oil reserve if a storm damages oil installations in the Gulf of Mexico, a Department of Energy spokeswoman said Friday.(AFP/File)
    US to tap oil reserve if storm batters oil-rich Gulf of Mexico AFP - Fri Aug 29, 1:06 PM ET

    WASHINGTON (AFP) - US officials are prepared to tap the government's strategic oil reserve if a storm damages oil installations in the Gulf of Mexico, a Department of Energy spokeswoman said Friday.

  • A money changer counts US dollar notes in Singapore. The dollar dropped against the euro and the yen, as dealers tracked rising oil prices and fresh evidence of inflationary pressures in the eurozone and Japan.(AFP/File/Roslan Rahman)
    Dollar slips amid higher oil prices AFP - Fri Aug 29, 9:12 AM ET

    LONDON (AFP) - The dollar dropped against the euro and the yen on Friday, as dealers tracked rising oil prices and fresh evidence of inflationary pressures in the eurozone and Japan.

  • Traders are pictured in the crude oil pit on the floor of the New York Mercantile Exchange on August 28. Oil prices rebounded as Tropical Storm Gustav risked becoming a hurricane once more and threatening energy production in the Gulf of Mexico, home to US refineries.(AFP/Getty Images/Michael Nagle)
    Oil prices rise as Gustav threat looms AFP - Fri Aug 29, 5:00 AM ET

    LONDON (AFP) - Oil prices rebounded on Friday as Tropical Storm Gustav risked becoming a hurricane once more and threatening energy production in the Gulf of Mexico, home to US refineries.

  • Gas plant explosion rocks Texas town; no injuries AP - Thu Aug 28, 10:04 AM ET

    STAIRTOWN, Texas - Fire officials say there's been an explosion at a natural gas plant in a town south of Austin, Texas, but no injuries have been reported.

  • Two Indonesian soldiers standing guard at the gates of oil company Exxon Mobil Indonesia's (EMOI) complex in Lhokseumawe, Aceh in 2001. The Indonesian military's links to human rights abuses while helping foreign mining firms are being exposed in a lawsuit by local villagers against US energy giant ExxonMobil, analysts said Thursday.(AFP/File/Omar)
    ExxonMobil case said to highlight Indonesia rights abuses AFP - Thu Aug 28, 9:39 AM ET

    JAKARTA (AFP) - The Indonesian military's links to human rights abuses while helping foreign mining firms are being exposed in a lawsuit by local villagers against US energy giant ExxonMobil, analysts said Thursday.

  • Kuwaiti women shop for fruit and vegetables in a supermarket in Kuwait City. OPEC member Kuwait has earned 6.7 billion dinars (25 billion dollars) in the first three months of the current fiscal year, more than half the projected annual income, according finance ministry figures.(AFP/File/Yasser al-Zayyat)
    Kuwait earns half budget in three months AFP - Thu Aug 28, 5:53 AM ET

    KUWAIT CITY (AFP) - OPEC member Kuwait has earned 6.7 billion dinars (25 billion dollars) in the first three months of the current fiscal year, more than half the projected annual income, according finance ministry figures released on Thursday.

  • Alaska governor signs natgas pipeline license bill Reuters - Wed Aug 27, 9:05 PM ET

    ANCHORAGE, Alaska (Reuters) - Gov. Sarah Palin on Wednesday signed a bill giving the state authority to award TransCanada Corp a license to build and operate a multibillion-dollar pipeline to ship natural gas from the North Slope.

  • People walk past the London Stock Exchange. The FTSE 100 index finished near its session high as investors took heart from signs of more merger and acquisition activity in the banking sector.(AFP/File/Shaun Curry)
    London shares close higher AFP - Wed Aug 27, 12:46 PM ET

    LONDON (AFP) - London shares closed higher on Wednesday, lifted out of earlier losses by an upbeat report on the US manufacturing sector which helped allay fears about the economic outlook, and amid a surge in oil prices.