Energy group sees rising world oil demand, production

October 13th, 2009 Colo. gov touts 'new energy economy' at conferenceDENVER — Colorado Gov. Bill Ritter says his state's efforts to build a new energy economy can provide a model for addressing climate change and other challenges facing the country and world.

October 13th, 2009 OPEC sees 2010 oil demand up almost 1 percentCAIRO — A rebounding global economy spurred on mainly by China and other developing nations is expected to boost world oil demand by slightly under 1 percent next year, OPEC said Tuesday while cautioning that the pace of recovery remains far from certain. In its October Monthly Oil Market Report, the 12-nation group that supplies over 35 percent of the world's crude said demand was expected to grow by a daily 700,000 barrels to average 84.9 million barrels per day.

October 9th, 2009 Global oil demand seen rising amid recoveryPARIS — Faster economic growth next year, particularly in the developing world, will drive oil demand higher than previously expected, the International Energy Agency said Friday. The Paris-based IEA, which advises oil-consuming countries, said crude demand would reach 86.1 million barrels a day in 2010, up 1.7 percent from this year, the IEA said in its monthly oil report.

September 16th, 2009 Total sees oil production rebound in 2010PARIS — Total SA expects its oil production to rebound in 2010 after cuts by OPEC and falling demand caused by the global recession weighed on its output this year, the company said Wednesday. The forecast was included in slides on the French oil giant's Web site ahead of a presentation to analysts later in the day.

September 4th, 2009 Global Energy sells ethanol plantATLANTA — Global Energy Holdings Group, Inc. said Friday it will sell an ethanol production plant to Fiberight LLC.

August 4th, 2009 On the Call: Chesapeake Energy CEO McClendonChesapeake Energy, one of the nation's largest independent natural gas producers, has struck deals in the past year with European oil and gas companies BP and StatoilHydro that gives them a stake in shale gas projects that Chesapeake is developing. Shale is a kind of layered, sedimentary rock that exists in formations throughout the world.

July 28th, 2009 Summary Box: Refiner Valero reports 2Q lossWHAT HAPPENED?: Valero Energy Corp., the nation's largest independent refiner, said Tuesday it lost $254 million in the second quarter — usually a robust period for refiners because of strong demand for products such as gasoline and jet fuel. WHAT WENT WRONG?: The recession has simply crushed energy consumption.

July 8th, 2009 OPEC: Recession leaves lasting crimp in oil demandVIENNA — Demand for OPEC crude has fallen so sharply because of the world recession that it will take another four years to recover to 2008 levels, the 12-nation oil producers' organization predicted Wednesday. The forecast was one of several profiled by the Organization of the Petroleum Exporting Countries in its oil supply and demand outlook to 2030 reflecting the deep crimp in the world's appetite for oil because of falling international industrial production and related developments that have lessened crude use.

June 30th, 2009 NEW DELHI - Inaugurating the golden jubilee celebrations of Indian Oil Corporation (IOC), President Pratibha Patil Tuesday hoped the state refiner would continue to expand production to increase the country's energy security. As Indian Oil owns and operates 10 of India's 20 refineries, accounting for 34 percent of the national refining capacity, I am sure that the nation can count on its contribution in increasing production, Patil said in her address at a function here.

June 29th, 2009 IEA sees oil demand up 0.6 pct a year through 2014PARIS — World oil demand is likely to grow by an average of 0.6 percent annually over the 2008-2014 period, the International Energy Agency forecast Monday, revising its mid-term expectations downward amid the global recession. The Paris-based IEA, which advises oil-consuming countries, said oil demand would reach 89 million barrels a day by 2014 under the International Monetary Fund's current forecast of a return to 5 percent annual economic growth by 2012.

June 11th, 2009 Slump in 2009 global oil demand seen moderatingPARIS — The International Energy Agency on Thursday forecast that the slump in global oil demand in 2009 would be slightly less severe than previously expected, the organization's first upward revision to its estimates in 10 months as economic indicators suggest the recession may be past its peak. The Paris-based agency said in its closely watched monthly survey that global oil demand would fall by 2.9 percent to 83.3 million barrels a day this year, or 2.5 million barrels a day less than in 2008.

June 10th, 2009 BP says world's proved oil reserves fell in 2008LONDON — The world's proved oil reserves fell in 2008, the first drop in a decade, oil company BP PLC said Wednesday. Proved reserves of 1.258 trillion barrels in 2008 was 3 billion barrels less than in 2007, the company said.

June 8th, 2009 Shell chief warns of oil spike without investmentKUALA LUMPUR, Malaysia — Oil prices will spike in the future without investment in the sector to meet demand once the global economy recovers, said Royal Dutch Shell Chief Executive Jeroen van der Veer on Monday. Despite the current economic crisis, he said demand was projected to double by 2050 as the world population grows from 6 billion to 9 billion by that time.

March 21st, 2009 KOLKATA - The Central Electricity Regulatory Commission (CERC) has proposed to set up an exchange for renewable energy, a top official said here Friday. 'There would be a national exchange kind of a thing where registration of renewable energy would be done,' CERC chairman Pramod Deo said during an interaction with members of the Merchants Chamber of Commerce here.

February 3rd, 2009 NEW DELHI - India will need to ramp up its foodgrain production by almost 40 percent to meet the demand of burgeoning population by 2025, Food and Agriculture Minister Sharad Pawar said here Wednesday. Speaking at a global conference on conservation in agriculture, Pawar said the demand for food would increase voraciously with rising population.