Energy

Oil Trades Near Two-Week Low as Dollar Rises, Iran Dismisses Threat of War Crude oil traded near a two-week low in New York after falling the most in three months yesterday as Iran downplayed the possibility of a war and the dollar rose, limiting the appeal of commodities.

Singh, Bush Reaffirm Commitment to Stalled U.S.-India Nuclear Energy Deal Indian Prime Minister Manmohan Singh and U.S. President George W. Bush reaffirmed their commitment to a joint nuclear energy accord that would help alleviate the south Asian nation's chronic power shortages.

G-8 Failure to Set Carbon-Emission Goals Before 2050 Hinders Climate Fight The Group of Eight's climate-change strategy may fail to contain rising temperatures that threaten to cause more floods, droughts and storms.

AGL Energy to Buy 9.99% of Torrens in Australian Geothermal Power Alliance AGL Energy Ltd., Australia's biggest electricity and gas retailer, agreed to buy a 9.99 percent stake in Torrens Energy Ltd., widening its business to potentially include geothermal resources for power generation.

Australia Science Agency Captures Carbon From Power Plant Gases in Trial Australia's government science agency completed the nation's first trial to capture carbon dioxide from waste gases from a power plant, using a technology aimed at cutting greenhouse gas emissions from coal-fired generation.

Boone Pickens Proposes Energy Plan to Reduce U.S. Reliance on Foreign Oil T. Boone Pickens, the billionaire Texas investor, unveiled a national energy plan that relies on domestically produced natural gas to cut U.S. dependence on foreign oil.

McMoRan, Druckenmiller, Loeb Tap Gulf Well That May Rival Chevron's Jack McMoRan Exploration Co. and firms backed by hedge-fund managers Stanley Druckenmiller and Daniel Loeb are attempting to drill the world's deepest well to tap a field that may rival Chevron Corp.'s Jack discovery.

Iran's Ahmadinejad Says `There Won't Be a War,' Pledges to Avoid Conflict Iran's Mahmoud Ahmadinejad dismissed the possibility of a war with the U.S. and Israel over his country's nuclear work, saying Iran is trying to avoid conflict.

Total, Eni Considering Building Middle Eastern Nuclear Plants, FT Reports Total SA and Eni SpA are both planning to build nuclear power plants in the Middle East, the Financial Times reported.

G-8 Climate Stance Sets Showdown With Emerging Economies on Food, Growth By pressing developing countries to do more to combat global warming, the Group of Eight has set the stage for a broader showdown pitting most of the world's biggest economies against poorer-but-faster-growing ones.

TonenGeneral Restarts Oil Refinery in Western Japan After Lightning Strike TonenGeneral Sekiyu K.K., a subsidiary of Exxon Mobil Corp., said it restarted a 170,000 barrel-a-day refinery in western Japan after lightning caused a blackout.

JPMorgan Says Oil to Remain Above $130 Through Northern Hemisphere Summer Oil prices will remain above $130 a barrel through the end of summer and above the ``$115 level'' through the year, JPMorgan Chase & Co. analysts said in a report.

Nippon Oil to Restart Two Crude Units Next Week After Planned Maintenance Nippon Oil Corp., Japan's largest petroleum refiner, plans to restart crude-distillation units at two refineries by July 15 after scheduled maintenance, a company official said.

U.S. Imports of Liquefied Gas May Decline 38% This Year, Government Says U.S. imports of liquefied natural gas may fall 38 percent this year as demand remains strong in Asia and Europe and projects are delayed, the Energy Department said today.

Bring On Mad Max to Make Most of Asian Energy: Commentary by William Pesek As central bankers lose sleep over inflation, one Japanese politician has a decidedly contrarian take on things: Bring it on.

TonenGeneral Restarts Oil Refinery in Western Japan After Lightning Strike TonenGeneral Sekiyu K.K., a subsidiary of Exxon Mobil Corp., said it restarted a 170,000 barrel-a-day refinery in western Japan after lightning caused a blackout.

JPMorgan Says Oil to Remain Above $130 Through Northern Hemisphere Summer Oil prices will remain above $130 a barrel through the end of summer and above the ``$115 level'' through the year, JPMorgan Chase & Co. analysts said in a report.

Nippon Oil to Restart Two Crude Units Next Week After Planned Maintenance Nippon Oil Corp., Japan's largest petroleum refiner, plans to restart crude-distillation units at two refineries by July 15 after scheduled maintenance, a company official said.

U.S. Imports of Liquefied Gas May Decline 38% This Year, Government Says U.S. imports of liquefied natural gas may fall 38 percent this year as demand remains strong in Asia and Europe and projects are delayed, the Energy Department said today.

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