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Marathon Oil plans $3.6 billion in N. America investment

oil investments

Marathon Oil said it plans to pour $3.6 billion into boosting its production of oil and gas from North America in 2014, outlining a plan increasingly focused on lucrative production in the United States. The Houston-based independent’s capital expenditure budget for 2014 will be $5.9 billion, with 60 percent allocated to North American plays, Marathon Oil said Wednesday. Integrated oil ...

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Badia residents protest against nuclear reactor

no nuclear

AMMAN — Dozens of badia residents gathered on Thursday to protest against plans to construct nuclear reactors in the area, calling on the government to scrap the country’s atomic energy programme. In a “no to nuclear” rally on the outskirts of the town of Muwaqqar, some 20 kilometres south of Amman, dozens of environmentalists, activists and tribal leaders protested against ...

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Iran oil minister in talks with western energy firms: FT

Nuclear power

DUBAI (Reuters) – Iran has begun talks with potential investors in its energy industry, oil minister Bijan Zanganeh told the Financial Times, after Tehran struck a nuclear deal that may help western oil giants move back into the country someday. Iran is home to some of the world’s largest oil and gas reserves, but U.S. energy firms have been barred ...

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Foreigners’ cash seen fueling higher Mexican oil production

Mexican flag

There may be fisticuffs over the form it will take, but there’s consensus among leaders in Mexico that opening oil and gas production to foreign investment is crucial to growing the economy, that nation’s secretary of economy said during a San Antonio visit Thursday. “To me, it’s very clear that the future of Mexican manufacturing depends on the access of ...

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China factories going green, energy efficient

China moving toward green technology

SHANGHAI (China Daily/ANN) — Greener growth and energy efficiency will be the key words for the future development of China’s manufacturing sector in the face of growing pressure on resources and costs, a senior industrial official said on Tuesday. “At the moment, 70 per cent of Chinese cities couldn’t meet the new standard for air quality, while water and soil ...

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China’s natural gas industry set for strong growth

china

BEIJING (China Daily/ANN) — China’s natural gas industry will continue to grow at a high speed through 2025 with clean energy-driven power generation showing increasing importance, bringing opportunities to both foreign and domestic companies. As the economy grows and the government carries out policies to raise clean energy use, China’s natural gas demand will increase at an annual rate of ...

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Siemens pulls plug on last solar energy business

MUNICH (Reuters) – German industrial conglomerate Siemens is shutting down the last of its solar energy businesses after it failed to find a buyer, the company said on Monday. Confirming a report in German newspaper Handelsblatt, a spokesman for Siemens said the group would close Solel by early next year. The Israeli business has accumulated losses of around 1 billion ...

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China to become global energy lab

china

CHENGDU (China Daily/ANN) — China will become the world’s energy laboratory for decades to come, as the country continues to create a greener economy, experts said at the Chengdu Fortune Global Forum on Friday. “The transition from fossil fuels to green energy will take decades, but we can start with something such as natural gas,” said Sun Simin, chairman of ...

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