Browsing All Posts published on »September, 2013«

“Black gold” and “black money”

September 5, 2013

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(Not translated by M.L.) As you know, oil is black, and sometimes oil companies need to pay governments “black” money to get out the “black gold” from the ground. The 2010 Dodd-Frank Financial Reform and Protection Act’s Section 1504 require that publicly traded US oil and gas companies must disclose payments made to foreign governments. […]

The black blood in the economic veins

September 3, 2013

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Nobody denies that there is a connection between economic growth and oil consumption. The clearest signal came in 2008-9 when the world economy crashed at the same time as oil production sank dramatically. If one is to describe this in a little more detail then it is not oil production itself that is decisive rather […]

Lundin receives offshore drilling and production consent at Johan Sverdrup

September 3, 2013

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(Photo of Bredford Dolphin) The Petroleum Safety Authority Norway has announced that Lundin Norway AS has received consent to use the Bredford Dolphin mobile facility for drilling and production testing of the Johan Sverdrup discovery in the North Sea. The consent applies to drilling and production testing of well 16/5-4, which belongs to production licence […]

The spies who fooled the world

September 1, 2013

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This evening I saw the British documentary, “The spies who fooled the world”. (BBC originally showed the film on 18 March). The conclusion of the film is that the information on weapons of mass destruction in Iraq was made up (see the documentary “In English“). The film ends with one of the “spies” being confronted […]

The conflict in Syria makes oil prices climb

September 1, 2013

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Crude oil prices settled at a 2-year high August 28 on the NYMEX’s futures market and also climbed on the London market, driven by continuing concerns that a potential military strike in Syria could disrupt world oil supplies coming from the Middle East. In trading on New York and London markets on Aug. 28, prices […]