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IEA: Natural Gas Can Supply World For 250 Years Thursday, 20 January 2011 09:51 United Press International Supplies of natural gas could last more than 250 years if Asian and European economies follow the U.S. unconventional reserves, the IEA said. The abundance of shale gas and other forms of so-called unconventional gas discovered in the United States prompted a global rush to explore for the new resource.The International Energy Agency said Australia is taking the lead in the push toward unconventional gas, though China, India and Indonesia are close behind. European companies are taking preliminary steps to unlock unconventional gas...

There's an energy revolution brewing right under our feet. Over the past decade, a wave of drilling around the world has uncovered giant supplies of natural gas in shale rock. By some estimates, there's 1,000 trillion cubic feet recoverable in North America alone—enough to supply the nation's natural-gas needs for the next 45 years. Europe may have nearly 200 trillion cubic feet of its own.We've always known the potential of shale; we just didn't have the technology to get to it at a low enough cost. Now new techniques have driven down the price tag—and set the stage for shale...

THE Nigeria Labour Congress (NLC) has described the retail prices of petroleum products in Nigeria as the highest in all the OPEC countries. The NLC in a statement in Abuja said Nigerians are paying more than 15 Naira above what their peers in the OPEC country with the highest petroleum prices are paying. The NLC gave the data as follows: Algeria--N35.39, UAE--N36.55, Saudi Arabia-- N31.05, Kuwait-- N28.09, Indonesia-- N27.27, Quatar --N23.96, Libya-- N11.50, Iran-- N10.19 and Venezuela-- 6.71. The NLC pointed out that the statistics being bandied around by the Federal Government in respect of pump prices of petroleum...

This week’s map shows oil refineries in China. Refineries are sized by their refining capacity and symbolized by their owner. This map was created using POWERmap®.