The US Energy Information Administration (EIA) updated its estimates of US proved reserves of oil and natural gas for 2010. Reserves of both oil and natural gas in 2010 rose by the highest amounts ever recorded in the 35 years EIA has been estimating US proved reserves.

Cheniere Energy Partners is moving ahead with the construction of facilities in Louisiana to liquefy and export natural gas, moving the U.S. one step closer to becoming a major exporter of natural gas.

Japan’s 10 power utilities consumed 5% more liquefied natural gas year-on-year in July to generate electricity as all but two of the nation’s nuclear reactors remain shut amid safety concerns.

A Japanese energy consortium took control of a 40% stake in shale natural gas basins in northern British Columbia, Canada owned by Nexen. Nexen will continue to control 60% stake in these shale gas basins.

South Africa, Africa’s biggest economy, is running dangerously short of energy, even as the country sits atop what geologists say could be substantial shale gas reserves.

Iraq has overtaken Iran as the second-largest oil producer within the OPEC cartel for the first time since the late 1980s in a highly symbolic shift that highlights the impact of western sanctions on Tehran.

China’s crude oil imports in July rose 12.4% year on year to 5.16 million barrels per day.

US coal production is down 4.4% over the past year as coal-fired electricity generating plants shift to natural gas.

Scotland has been chosen as the connection point for a UK-Norway electricity interconnector. The power cable is planned to have a capacity of 1.4 GW and is scheduled to be commissioned in 2020. It is expected to increase energy security and help exchange renewable power between the UK and Norway.

30% of the electricity consumed in Turkey is produced by hydroelectric plants. Turkey pays $25 billion for imported energy each year. As the hydroelectric plants currently under construction begin to produce power, most of this money will stay in the country, helping to close the current account deficit, most of which stems from energy imports.

Egypt’s population is getting angry as widespread power cuts continue. The blackouts often lead to water cuts as well in places where the water supply depends on electricity. Facing mounting pressure, the Electricity Ministry issued orders to increase the load on the grid but some believe this action would lead to a total blackout in the national power network if a breakdown takes place.

Bulgaria’s consumer prices jumped 1.5% in June, raising annual inflation to 3.1% after a double-digit increase of electricity costs in the European Union’s poorest country.

20 years after the first Gulf War, Iraqis continue to live with daily power outages as the grid is unable to meet demand, especially in the very hot summer months. When the government cuts electricity, private companies start distributing power to residents by way of local generators. These units are placed in a neighbourhood and provide power for 25 to 30 homes. The smaller, private companies that own the generators charge locals a small monthly fee to connect a power line to their generator.

Last week the US wind sector passed the 50 GW installed capacity milestone.  The American Wind Energy Association says this is the equivalent to the generating power of 44 coal-fired power stations or 11 nuclear power plants.

The US Interior Department will make 16 million acres of public land rich in renewable energy resources available for defense-related projects, The US wants to encourage projects harnessing solar, wind, geothermal and biomass energy resources on public lands previously restricted for military uses.

There are complaints in Australia that people buying green energy from producers or distributors are being charged the carbon tax. The Australian Competition and Consumer Commission has been given the task of ensuring that Australians are not overcharged by firms seeking to profit from the implementation of the new carbon tax scheme targeted at fossil fuels.


 

with h/t Tom Whipple

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