Photo Of Pipeline Fire And Map Of Awamiya Region. And another update this time a video showing Awamiya, Eastern Saudi Arabia, where the oil fields can be seen from minute three onward.
Another update from Arab Digest: A new photo of the pipeline under fire, from our Qatif correspondent: Below is a map of oil fields in Saudi Arabia: The Eastern region is where most of the oil fields are based. The events, if they continue, might force Saudi Arabia to lower its production expectations this year, thus affecting world supplies, and possible the world economy. A quick review of the proximal refinery courtesy of Saudi Aramco Ras Tanura Refinery The most complex Saudi Aramco refinery is on the Arabian Gulf at Ras Tanura with a crude distillation capacity of 550,000 barrels per day (BPD).
Ras Tanura Refinery's major refining facilities include a 325,000 BPD Crude Distillation Unit, a 225,000 BPD Gas Condensate Distillation Unit, 50,000 BPD hydrocracker and a total of 107,000 BPD capacity of catalytic reforming. Exxon awarded $908m over Venezuela dispute - Americas. An international arbitration body has awarded US oil firm Exxon Mobil nearly $908m in a dispute with Venezuela over compensation for the nationalisation of its assets, the company says.
Exxon requested arbitration after President Hugo Chavez's government nationalised an oil project in the country in 2007. The company had sought as much as $10bn in compensation for its heavy crude upgrading project in the Orinoco Belt, which was nationalised along with three others. The award is less than the $1bn Venezuela offered in compensation in September. The decision by the International Chamber of Commerce (ICC) confirmed that state oil company Petroleos de Venezuela SA "does have a contractual liability to Exxon Mobil,'' company spokesman Patrick McGinn said in an email on Sunday. The Paris-based ICC calls itself the world's leading institution for resolving cross-border business disputes and says it has handled several hundred cases a year since 1999.
Cases pending. The Scientific Challenges To Replacing Oil With Renewables. Via ChrisMartenson.com So, assuming the Peak Oil camp is on to something, what's the likelihood for a disruption-free transition to another energy source that can replace the energy output we currently enjoy from oil?
There's no shortage of promising claims from new laboratory experiments, and there is a lot of optimism in political and entrepreneurial circles that renewable, alternative forms of energy (wind, solar, biofuels, etc) may be able to fill the "energy gap" in time. How realistic are these hopes? Not very, says Robert Rapier, energy specialist and Chief Technology Officer of Merica International.
The problem is one of return on invested energy. When you think about what oil is then you understand why these biofuels companies have a tough time of making it work. The scale-up issue is the most important issue because in my experience, most technologies get wiped out as they go up in scale.
Attack on Iran could risk Gulf oil supplies. Iran is contemplating violently shutting down shipping in the Persian Gulf as one of several counterattack options if Israel strikes its nuclear facilities, regional and intelligence analysts say. Such attacks would present the Obama administration with the option of undertaking a limited war against Iran by striking its warships and shore-based anti-ship missiles to keep the Gulf open for business. Former CIA analyst Larry C. Johnson said Iran has enough firepower to effectively close the Gulf and Strait of Hormuz, through which 40 percent of all the world’s oil moves. “One of the things that Iran has exercised, has the capability to do, is shut down the Persian Gulf,” Mr. Johnson said. He said Iran could unleash small boats laden with explosives “that we don’t have adequate covers for.
Enlarge Photo **FILE** The Bushehr nuclear power plant, outside the southern city of Bushehr, ... more > Mr. “I think we would be looking at a significant wave of terrorist retaliation by them,” he said. U.S. to Open New Areas to Offshore Drilling. Obama biggest recipient of BP cash - Erika Lovley. While the BP oil geyser pumps millions of gallons of petroleum into the Gulf of Mexico, President Barack Obama and members of Congress may have to answer for the millions in campaign contributions they’ve taken from the oil and gas giant over the years.
BP and its employees have given more than $3.5 million to federal candidates over the past 20 years, with the largest chunk of their money going to Obama, according to the Center for Responsive Politics. Donations come from a mix of employees and the company’s political action committees — $2.89 million flowed to campaigns from BP-related PACs and about $638,000 came from individuals. Continue Reading On top of that, the oil giant has spent millions each year on lobbying — including $15.9 million last year alone — as it has tried to influence energy policy.
An Obama spokesman rejected the notion that the president took big oil money. (Also on POLITICO: Obama campaign targets Romney, Big Oil in third TV spot) In Congress, Sen.