China: Fuel supplies will be sufficient: City
SHANGHAI'S fuel inventories are adequate, the government said in response to concerns of diesel shortage as long queues had been seen at some local petrol stations recently.
China: Sinopec to suspend oil product exports in Q3
Asia's top refiner, will suspend oil product exports in the third quarter in order to increase domestic supply, Sinopec Group said.
The company will on the other hand increase gasoline and diesel imports for the summer harvest, the Beijing Olympics and earthquake relief, the group said in a statement.
Comoros: Pénurie de pétrole lampant à Moroni
Residents of Moroni have faced in recent days from a severe shortage of kerosene, that Comorians used for most fuel for cooking. Before the service stations, long lines formed all day in search of less than a litre of oil. The phenomenon also affects the countryside, where hundreds of people converge on the capital by vans, with hundreds of jerrycans to refuel for lighting homes.
India: IOC to restrict auto fuel supplies to contain losses
The spectre of oil scarcity in the country is already becoming a reality. The country’s largest oil company, the Indian Oil Corporation Ltd (IOC), today said that it would ration supplies in order to cut revenue losses.
The IOC Chairman, Mr Sarthak Behuria, told reporters at a conference to announce its annual results here that “we have decided to restrict supplies of auto fuels to whatever is domestically available. In fact, we are already doing it.”
India: Cash crunch hits India IOC's diesel imports
Indian Oil Corp, haemorrhaging cash from selling its fuel below cost, has been forced to scale down a large new refinery project and stop importing diesel for domestic sales, the firm's chief said.
Selling fuel at a loss, while buying crude at near record prics on the international market, has dragged IOC's net 4.14 billion rupees into the red in the three months ending March 31, its first loss in nine quarters.
India: Short supplies fuel crisis across state
Despite the government’s denial of rationing by oil-marketing companies, Mumbai and other cities in Maharashtra are running low on fuel. But the oil companies insist this is a temporary hiccup and blame ‘technical problems’.
India: India oil retailers risk cash crisis-source
State-run Indian oil retailers will run out of money to cover crude imports within a few months unless the government announces a rescue package soon, a senior oil ministry source said on Tuesday.
Indonesia: Indonesia to withdraw from OPEC
Indonesia will withdraw from the Organization of Petroleum Exporting Countries at the end of the year, the country's energy minister told foreign journalists Wednesday.
Purnomo Yusgiantoro said the move follows declining oil production levels in Indonesia that have left the country a net importer of oil.
Kenya: Blackout puts banks risk management procedures to test
Rarely included in risk management policies of many Kenyan banks— at least since the dark ages of power rationing eight years ago— power blackouts are now testing the capability of banks’ enterprise risk management procedures.
Last Sunday’s five-hour blackout throughout the country caught many businesses and city inhabitants unawares causing panic as to the cause and longevity of the power failure.
Mexico: Mexico not expected to hit oil target
Mexico's 2008 oil production target of 3 million barrels a day looks like a fairy tale as output slid for the third straight month in April to a nine-year low.
Waning output at major oil exporters Mexico, Venezuela and Russia have contributed to a meteoric rise in oil prices this year to over $130 a barrel.
New Zealand: Crisis move to avert power cuts
The threat of a winter power crisis has spurred Contact Energy to reopen part of a power station mothballed only last year because of asbestos danger.
Workers in breathing gear and protective suits will run a 100MW gas-fired machine in the 32-year-old New Plymouth station around the clock to help boost supply during winter.
New Zealand: NZ on verge of winter power crisis
There are fears that New Zealand may be facing a power crisis this winter with storage levels in the southern hydro lakes now at their lowest point since 1992.
Latest figures show lake levels are at around 58% of full capacity while energy demand is higher than at the same time last year.
Nigeria: Shell contains Nigeria oil spill, Bonny affected
Royal Dutch Shell (RDSa.L: Quote, Profile, Research) said on Wednesday it had contained an oil spill following a pipeline attack in Nigeria earlier this week but added it could still not meet all supply obligations for Bonny Light crude.
"The spill is contained," a company spokeswoman said. "There are some shut-ins but I am not specifying the volume."
Pakistan: Govt seeks private sector ’ s help to combat power crisis
Federal Water and Power Minister Raja Pervaiz Ashraf has said the shortage of energy is one of the biggest challenges the nation is facing at the moment.
He said the menace of loadshedding would be controlled by the end of August as a contingency plan to cope with the situation had been put in place.
Pakistan: PSO decides capping diesel supply to pumps
Pakistan State Oil (PSO) has decided countrywide capping of its diesel supply to pumps, which under this decision more than three month’s supply average would not be provided.
Pakistan: Water, power crisis last straw for Capital residents
With the arrival of summer, the capital’s water crisis has assumed a new dimension leaving tanks and taps in thousands of homes in several sectors running virtually dry.
Palestine (Gaza): Gaza facing 'gravest' crisis
Britain may be feeling the strain of rising petrol prices, but its problems are nowhere near as critical as those faced by the people of Gaza.
For its 1.5 million residents, fuel is in such short supply people have to travel by donkey or run their cars on cooking oil.
Russia: Russia worried as oil production slides
Russia's government has proposed urgent measures to halt a slide in oil production, which threatens to undermine the country's petroleum-fuelled economic boom.
"All the proposals have been accepted and will be submitted to parliament at the end of this week," Deputy Finance Minister Sergei Shatalov told journalists after the Presidium, a group of the most powerful ministers created by Prime Minister Vladimir Putin, met to discuss the crisis on Monday.
UAE: Electricity demand to fuel gas shortage
Although the UAE produced more natural gas than it consumed last year, galloping future demand from electricity generation sector and slow growth in gas infrastructure will create shortages, according to a new study.
UK: Blackouts affect thousands in Britain's worst power shortage in four years
National Grid issued "a demand control imminent" warning – something it is forced to do no more than once every four years – as nine power stations fell out of action. The most notable was Sizewell B, the nuclear power station near Leiston, Suffolk.
The plant was closed for "unexpected maintenance", which the company said was no cause for alarm.
