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First for breaking news and analysis: Compelling world news stories from msnbc.com and NBC News journalists. Follow us on Twitter and Facebook.
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  • 5
    days
    ago

    Total plugs gas leak off Scotland's coast after 7 weeks

    By ITV News and msnbc.com staff

    A gas leak on a North Sea oil platform has been stopped after more than seven weeks, its operators said Wednesday.

    Heavy mud was pumped into the well in a bid to "kill" the leak on Total's Elgin platform, which is around 150 miles from Aberdeen, Scotland.

    Gas had been escaping from the site since late March. Reuters reported the leak cost Total around $3 million a day in relief operations and lost net income.

    The French firm's chief executive Christophe de Margerie has previously said the Elgin leak would cost the company more than $300 million in lost production in a worst-case scenario where production did not restart before the end of the year.

    Read more on this story from Britain's ITV News. 

    Related content:

    • Explosion feared as gas leaks from North Sea rig
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    Follow us on Twitter: @msnbc_world

    4 comments

    9 billion people plus by the year 2100, I love when I hear that the US has enough energy to power us for the next 100 years....then what???? Just like piling on the debt and letting the future generations have to deal with it....sad world we live in....let's just keep polluting the planet so big oil …

    Show more
    Explore related topics: oil, environment, spill, scotland, total, uk, north-sea, aberdeen
  • 6
    May
    2012
    6:21am, EDT

    Clinton to tell India: Cut back on Iran oil

    Shannon Stapleton / AFP - Getty Images

    U.S. Secretary of State Hillary Clinton waves upon her arrival at the airport in Kolkata, India on Sunday.

    By NBC News and msnbc.com news services

    KOLKATA, India - The United States will seek assurances that India will reduce its purchases of oil from sanctions-hit Iran during a visit by Secretary of State Hillary Clinton to the South Asian giant this week, a senior U.S. official said on Sunday.

    Clinton started a three-day trip to India on Sunday that will coincide with a visit by a large Iranian trade delegation, as India walks a tightrope of strengthening ties with ally the United States and sating its fast-growing energy needs.


    She arrived in India from a 24-hour visit to Bangladesh, where NBC News reported that she visited the US Embassy in Dhaka to thank worker and expressed “hurt” at a local opinion poll that showed most people believe the U.S. is anti Muslim.

    During her visit, Clinton will also make the case for the country to open its supermarket sector to foreign chains such as U.S. giant Wal-Mart Stores - a major economic reform that has stalled under Prime Minister Manmohan Singh's government.

    India has publicly rejected Western sanctions but has pushed refiners to cut imports of oil from Iran by 15-20 percent - enough, it hopes, to win a waiver from Washington.

    The United States in March granted exemptions to Japan and 10 European Union nations from its sanctions, which are aimed at pressuring Iran to end its nuclear programme. India and China, Iran's biggest buyers of crude, remain on a list at risk if they do not cut oil imports "substantially".

    "Our assessment is India is making good progress but we really need to receive assurances that they are going to continue to make good progress," a senior U.S. official, travelling with Clinton, told reporters.

    The 56-member trade delegation, led by the president of Iran's chamber of commerce, will also arrive on Sunday for another round of talks on how the two can trade via a rupee mechanism set up to skirt sanctions. A previous trade mission of Indian businesses to Iran in March had proved unproductive.

    "These are not going to be strategic trades of any kind," the U.S. official said. "So I don't think that we are too concerned about this, but we'll obviously want to hear from the government what they see as the focus of this trade delegation."

    Shannon Stapleton / AFP - Getty Images

    U.S. Secretary of State Hillary Clinton speaks to students at the Dhaka International School in Dhaka, Sunday.

    Relations between the United States and India have blossomed in recent years, especially during the presidency of George W. Bush, which signed a landmark civilian nuclear pact with India. But irritants, especially over trade and investment barriers, have raised temperatures of late.

    Clinton arrives in India leaving behind her a stormy visit to China, which saw Beijing and Washington tussle over the fate of a blind Chinese human rights activist who had escaped 19 months of house arrest and fled to the U.S. embassy.

    From Kolkata, Clinton will travel to New Delhi on Monday to meet Singh. Afghanistan and India's controversial proposals on retroactive taxation are likely talking points, Indian sources told Reuters last week.

    Reuters contributed to this report.

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    Follow us on Twitter: @msnbc_world

     

    149 comments

    A country of 300 million telling a country of over 1 billion what to do. Where are your goddamn manners b*tch!?

    Show more
    Explore related topics: us, oil, bangladesh, india, economy, iran, featured, hillary-clinton
  • 4
    May
    2012
    6:02am, EDT

    Wild celebrations as Argentina nationalizes oil company

    Natacha Pisarenko / AP

    Government supporters celebrate outside the Congress in Buenos Aires on May 3, 2012 after Argentina's takeover of its formerly state-owned energy company won approval from legislators.

    Ivan Fernandez / EPA

    Deputies and spectators attending the session of Congress celebrate the final approval of the proposal of creating a bill to expropriate the oil company.

    Reuters reports — Argentina's Congress nationalized the country's biggest oil company, YPF, by an overwhelming lower house vote on Thursday that underscored broad popular support for a measure that threatens to scare off foreign investment. 

    "It's a good move for the country because if the government does not control strategic resources such as oil, it loses power," said financial analyst Leonardo Rodriguez, 32, as he sipped a latté in the well-heeled Buenos Aires neighborhood of Puerto Madero.

    "But the approach used in taking over the company, without negotiating, was too jarring and authoritarian," Rodriguez said. "There could be serious consequences. I mean, who wants to invest in a country where the government expropriates private property from one day to the next?" Read the full story.

    Follow @msnbc_pictures

    26 comments

    They will live to regret this.

    Show more
    Explore related topics: business, oil, congress, americas, argentina, world-news, nationalization, ypf
  • 17
    Apr
    2012
    8:12am, EDT

    Spain threatens 'decisive' action as Argentina moves to nationalize oil firm

    By Ian Johnston, msnbc.com

    Spain threatened economic retaliation against Argentina Tuesday after Buenos Aires took control of an oil company said to be worth $18 billion.

    Argentina's President Cristina Fernandez de Kirchner replaced the chief executive officer of oil firm YPF -- the country's biggest firm -- and said she would send a bill to congress to take a 51 percent stake in the company, the Bloomberg news agency reported.


    Spanish oil firm Repsol is the major shareholder in YPF and it said it would seek compensation on the bases that YPF was worth $18 billion. However, its shares dropped by more than eight percent Tuesday, Reuters said.

    "With this attitude, this hostility from the Argentine authorities, there will be consequences that we'll see over the next few days. They will be in the diplomatic field, the industrial field, and on energy," Spanish industry minister Jose Manuel Soria said, according to Reuters.

    He added that the government would take "clear and decisive" measures, according to Bloomberg.

    Madrid called in the Argentinean ambassador in a rapidly escalating row over the nationalization order, Reuters said.

    Fernandez: I'm 'not a thug'
    Fernandez's move delighted many of her compatriots but alarmed some foreign governments and investors. 

    "This president isn't going to respond to any threats ... because I represent the Argentine people. I'm the head of state, not a thug," she said, according to Reuters. 

    Fernandez said the government would ask Congress, which she controls, to approve a bill to expropriate a controlling 51 percent stake in the company by seizing shares held exclusively by Repsol, saying energy was a "vital resource." 

    "If this [the YPF's] policy continues -- draining fields dry, no exploration and practically no investment -- the country will end up having no viable future, not because of a lack of resources but because of business policies," she said. 

    Repsol described Argentina's move as "clearly unlawful and seriously discriminatory." "This battle is not over," Repsol chairman Antonio Brufau said. 

    Spanish media condemned the Argentinean action, which Reuters said was believed to be the biggest nationalization in the natural resources field since the seizure of Russia's Yukos a decade ago. 

    Right-wing newspaper La Razon carried a photograph of Fernandez on its front page in a pool of oil with the headline: "Kirchner's Dirty War", referring to her full name. The business newspaper La Gaceta de los Negocios branded the takeover "an act of pillage". 

    On the left, El Periodico spoke of "The New Evita", pointing out that Fernandez had announced the nationalization in a room decorated with a portrait of Eva Peron, the actress who was married to a president and revered by many Argentineans for her populist politics. 

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    142 comments

    For many who do not understand, to nationalize the company means that she stole it from the rightful owners. Some people will try to cloud the issue, but that's exactly what happened.

    Show more
    Explore related topics: energy, oil, spain, europe, argentina, repsol, featured, nationalize, ypf
  • 16
    Apr
    2012
    6:43am, EDT

    World's armies circle as Arctic warms to reveal untapped supplies of oil and gas

    Lucas Jackson / Reuters, file

    U.S. Navy safety swimmers stand on the deck of the Virginia class submarine USS New Hampshire after it surfaced through thin ice during exercises underneath ice in the Arctic Ocean north of Prudhoe Bay, Alaska March 19, 2011.

    By The Associated Press

    YOKOSUKA, Japan -- To the world's military leaders, the debate over climate change is long over. They are preparing for a new kind of Cold War in the Arctic, anticipating that rising temperatures there will open up a treasure trove of resources, long-dreamed-of sea lanes and a slew of potential conflicts. 

    By Arctic standards, the region is already buzzing with military activity, and experts believe that will increase significantly in the years ahead. 


    Last month, Norway wrapped up one of the largest Arctic maneuvers ever — Exercise Cold Response — with 16,300 troops from 14 countries training on the ice for everything from high intensity warfare to terror threats. Attesting to the harsh conditions, five Norwegian troops were killed when their C-130 Hercules aircraft crashed near the summit of Kebnekaise, Sweden's highest mountain.

    The U.S., Canada and Denmark held major exercises two months ago, and in an unprecedented move, the military chiefs of the seven main Arctic powers — Canada, the U.S., Russia, Iceland, Denmark, Sweden and Finland — are to gather at a Canadian military base in May to specifically discuss regional security issues. 

    None of this means a shooting war is likely at the North Pole any time soon. But as the number of workers and ships increases in the High North to exploit oil and gas reserves, so will the need for policing, border patrols and — if push comes to shove — military muscle to enforce rival claims. 

    High stakes
    The U.S. Geological Survey estimates that 13 percent of the world's undiscovered oil and 30 percent of its untapped natural gas is in the Arctic.

    Shipping lanes could be regularly open across the Arctic by 2030 as rising temperatures continue to melt the sea ice, according to a National Research Council analysis commissioned by the U.S. Navy last year. 

    UK report analyzes risks of Arctic development

    What countries should do about climate change remains a heated political debate. But that has not stopped north-looking militaries from moving ahead with strategies that assume current trends will continue. 

    Russia, Canada and the United States have the biggest stakes in the Arctic. With its military budget stretched thin by Iraq, Afghanistan and more pressing issues elsewhere, the United States has been something of a reluctant northern power, though its nuclear-powered submarine fleet, which can navigate for months underwater and below the ice cap, remains second to none. 

    Lucas Jackson / Reuters, file

    U.S. Navy watch a display in the control room of the Virginia class submarine USS New Hampshire as it surfaces during exercises underneath ice in the Arctic Ocean north of Prudhoe Bay, Alaska March 20, 2011.

    Russia — one-third of which lies within the Arctic Circle — has been the most aggressive in establishing itself as the emerging region's superpower. 

    Rob Huebert, an associate political science professor at the University of Calgary in Canada, said Russia has recovered enough from its economic troubles of the 1990s to significantly rebuild its Arctic military capabilities, which were a key to the overall Cold War strategy of the Soviet Union, and has increased its bomber patrols and submarine activity. 

    Huebert said that has in turn led other Arctic countries — Norway, Denmark and Canada — to resume regional military exercises that they had abandoned or cut back on after the Soviet collapse. Even non-Arctic nations such as France have expressed interest in deploying their militaries to the Arctic. 

    Some Himalayan glaciers are actually growing

    "We have an entire ocean region that had previously been closed to the world now opening up," Huebert said. "There are numerous factors now coming together that are mutually reinforcing themselves, causing a buildup of military capabilities in the region. This is only going to increase as time goes on." 

    Noting that the Arctic is warming twice as fast as the rest of the globe, the U.S. Navy in 2009 announced a beefed-up Arctic Roadmap by its own task force on climate change that called for a three-stage strategy to increase readiness, build cooperative relations with Arctic nations and identify areas of potential conflict. 

    Climate forecasters eye 3 million years ago

    "We want to maintain our edge up there," said Cmdr. Ian Johnson, the captain of the USS Connecticut, which is one of the U.S. Navy's most Arctic-capable nuclear submarines and was deployed to the North Pole last year. "Our interest in the Arctic has never really waned. It remains very important." 

    US 'inadequately prepared'
    But the U.S. remains ill-equipped for large-scale Arctic missions, according to a simulation conducted by the U.S. Naval War College. A summary released last month found the Navy is "inadequately prepared to conduct sustained maritime operations in the Arctic" because it lacks ships able to operate in or near Arctic ice, support facilities and adequate communications.

    US sees record for warmest March -- and first quarter

    The findings indicate the Navy is entering a new realm in the Arctic," said Walter Berbrick, a War College professor who participated in the simulation. "Instead of other nations relying on the U.S. Navy for capabilities and resources, sustained operations in the Arctic region will require the Navy to rely on other nations for capabilities and resources." 

    He added that although the U.S. nuclear submarine fleet is a major asset, the Navy has severe gaps elsewhere — it doesn't have any icebreakers, for example. The only one in operation belongs to the Coast Guard. The U.S. is currently mulling whether to add more icebreakers.

    US: 56 coral species face extinction danger

    Acknowledging the need to keep apace in the Arctic, the United States is pouring funds into figuring out what climate change will bring, and has been working closely with the scientific community to calibrate its response. 

    "The Navy seems to be very on board regarding the reality of climate change and the especially large changes we are seeing in the Arctic," said Mark C. Serreze, director of the National Snow and Ice Data Center at the Cooperative Institute for Research in Environmental Sciences University of Colorado. "There is already considerable collaboration between the Navy and civilian scientists and I see this collaboration growing in the future." 

    The most immediate challenge may not be war — both military and commercial assets are sparse enough to give all countries elbow room for a while — but whether militaries can respond to a disaster. 

    Heather Conley, director of the Europe program at the London-based Center for Strategic and International Studies, said militaries probably will have to rescue their own citizens in the Arctic before any confrontations arise there. 

    "Catastrophic events, like a cruise ship suddenly sinking or an environmental accident related to the region's oil and gas exploration, would have a profound impact in the Arctic," she said. "The risk is not militarization; it is the lack of capabilities while economic development and human activity dramatically increases that is the real risk."

    © 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

    225 comments

    There ya go. Squeeze every last drop out of mother earth. And while you're at it, fight over it.

    Show more
    Explore related topics: oil, gas, warming, climate-change, arctic, ice, featured, melting, armies-military
  • 4
    Apr
    2012
    11:43pm, EDT

    New Zealand charges owners of stricken ship with causing environmental disaster

    The owners of the stranded and sinking cargo ship Rena are being charged for damage in New Zealand's worst maritime environmental disaster. Msnbc.com's Dara Brown reports.

    By Reuters

    WELLINGTON, New Zealand -- The owners of a stricken container ship wrecked on a reef off a popular New Zealand holiday spot have been charged with causing the country's worst environmental disaster in decades, maritime officials said on Thursday.

    Daina Shipping, a unit of Greece's Costamare Inc., has been charged with discharging harmful substances after its 47,230-ton Liberian-flagged ship Rena struck a reef about 12 miles off Tauranga, New Zealand's biggest export port, in early October.


    The charge carries a maximum fine of $488,000. The owners face an additional daily fine of $8,130.

    PhotoBlog: Stern of stricken container ship sinks off New Zealand

    The ship's captain and second officer have already pleaded guilty to operating the ship in a dangerous manner, releasing toxic substances and to altering the ship's documents.

    The two Filipino men face sentences of up to seven years in jail. They will be sentenced in late May.

    Marine officials said high winds and seas have battered the wreck, causing more containers to fall into the sea and spreading oil still leaking from the ship.

    Maritime New Zealand via Reuters

    The bow section of the stricken container ship Rena remains above water about 14 nautical miles from Tauranga on the east coast of New Zealand's North Island, in this April 4 handout picture. The remains of the ship are stuck on a rock reef six months after it ran aground, in what authorities say is one of the nation's worst environmental disasters.

    The ship spilt around 3301 tons of thick, toxic fuel oil when it hit the reef, killing thousands of sea birds and polluting beaches up to 60 miles from the reef.

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    Copyright 2011 Thomson Reuters. Click for restrictions.

    13 comments

    greek ships have always been the worst kept... the captains used to get cash, and what they did not spend, they got to keep, so they never repaired anything. they would never think to get a radar repaired even if it wouldn't turn on. greek ships were usually rust buckets, and an accident waiting to  …

    Show more
    Explore related topics: oil, new-zealand, pollution, environment, rena
  • 21
    Mar
    2012
    3:44pm, EDT

    Brazil files criminal charges against Chevron, Transocean over oil spill

    By msnbc.com news services

    An aerial view shows oil that seeped from a well operated by Chevron at Frade, on the waters in Campos Basin in Rio de Janeiro state November 18, 2011.

    RIO DE JANEIRO -- A Brazilian federal prosecutor filed criminal charges against U.S. oil company Chevron and drill-rig operator Transocean for a November oil spill off the coast of Rio de Janeiro, the prosecutor's office said on Wednesday.

    The prosecutor, Eduardo Santos de Oliveira, also filed criminal charges against 17 executives and employees at Chevron and Transocean, owner of the world's largest oil rig fleet. Among the defendants is George Buck, 46, a U.S. national in charge of Chevron's operations in Brazil, the office said in a statement.

    The charges allege that the spill created "a prolonged contamination time bomb" that threatens the entire marine ecosystem.


    At least 110,000 gallons of oil seeped through cracks on the ocean floor near a Chevron Corp. appraisal well off the Rio de Janeiro coast in November. The well, drilled by Transocean Ltd., has since been sealed, but a small amount of seepage reappeared in recent days, raising concern the damage is not yet over.

    In addition to Buck, prosecutors leveled criminal charges against five other Americans, five Brazilians, two Frenchmen, two Australians, a Canadian and a Briton.

    Prosecutors have also asked that that all the assets of those charged be seized, that each person be fined $555,555 and each company $5.6 million.

    Brazil has seen much worse oil spills, but the Chevron leak is the biggest test of offshore drilling safety since massive deposits were discovered in recent years, reserves that could hold 50 billion barrels of oil. Prison sentences could reach as high as 31 years.

    The spill was less than 0.1 percent of the size of the 4-million-barrel BP oil disaster in the Gulf of Mexico in 2010.

    This article includes reporting by Reuters and The Associated Press.

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    7 comments

    Funny they don´t file charges and hold executives when Petrobras, the state owned oil company, spills oil in the sea.

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    Explore related topics: oil, brazil, chevron, drilling, featiured
  • 20
    Mar
    2012
    4:34pm, EDT

    US: No Iran oil-import sanctions for Japan, 10 European Union nations

    By msnbc.com staff and news services

    The United States will spare Japan and 10 European Union nations from U.S. financial sanctions because they have significantly reduced purchases of Iranian crude oil, officials said Tuesday.

    The decision is a victory for the 11 countries, whose banks need not fear being possibly cut off from the U.S. financial system under new U.S. sanctions designed to pressure Iran over its nuclear program.


    The EU nations, which had already decided to cease importing Iranian crude, include Belgium, Britain, the Czech Republic, France, Germany, Greece, Italy, the Netherlands, Poland and Spain, a senior U.S. State Department official told reporters.

    “The actions taken by these countries were not easy,” Secretary of State Hillary Clinton said in a prepared statement. “They had to rethink their energy needs at a critical time for the world economy and quickly begin to find alternatives to Iranian oil.”

    Related story: US companies lose as sanctions strangle Iran 

    She said the EU nations’ actions show “their solidarity and their commitment to holding Iran accountable for its failure to comply with its international obligations.”

    She called Japan’s efforts “especially noteworthy considering the extraordinary energy and other challenges it has faced over the past year.”

    Koji Sasahara / AP

    An oil tanker is moored recently at an oil loading platform adjacent to an oil refinery in Kawasaki, west of Tokyo. Japan posted a record high trade deficit in January after its nuclear crisis shut down nearly all the nation's reactors for tougher checks, sending fuel imports surging.

    Japan increased its dependence on fuel imports after the 9.0-magnitude earthquake and tsunami of March 11, 2011, knocked out most of its nuclear power-generating capabilities.  Almost 9 percent of its crude imports came from Iran, according to published reports.

    The State Department list did not include China and India, Iran's top two crude oil importers, nor U.S. allies South Korea and Turkey, which are among the top 10 consumers of Iranian oil.

    A senior State Department official said 12 countries that import Iranian crude may eventually be subject to financial sanctions unless they significantly cut their purchases. The official did not name the countries, Reuters reported.

    Under the 2012 National Defense Authorization Act, President Barack Obama has the ability to impose financial sanctions on foreign banks that carry out financial transactions with Iran's central bank ``for the purchase of petroleum or petroleum products from Iran'' if several conditions are met.

    The United States has gradually tightened sanctions because of Iran's failure to answer questions about its nuclear program, which Washington and its allies suspect is a cover to develop nuclear weapons. Iran says it is solely to generate power.

    This article includes reporting by Reuters.

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    Follow us on Twitter: @msnbc_world

    62 comments

    Leave Iran alone, she is not a threat to any country. On the other hand, israel is a threat to the middle east and her current war mongering posture under the bigot nittyahoo will drag US into war with Iran, Russia and China.

    Show more
    Explore related topics: oil, japan, iran, european-union, barack-obama, hillary-clinton
  • 25
    Feb
    2012
    10:33pm, EST

    Britain reportedly joins dash to explore for oil in Somalia

    By msnbc.com staff and news services

    Britain is secretly seeking oil-drilling rights in Somalia as it offers the beleaguered country humanitarian and security aid, The Guardian of London reported Saturday.

    But al-Qaida-backed terrorists and other Islamist groups say they will fight against any Western powers drilling for oil in Somalia.

    Last week, British Prime Minister David Cameron hosted a 55-nation international conference that ended with promises of aid for the country he said was for two decades “torn apart by famine, bloodshed and some of the worst poverty on earth."


    The summit, the Guardian reported, followed a surprise visit by British Foreign Secretary William Hague to Somalia’s capital, Mogadishu,  where he discussed "the beginnings of an opportunity'' to rebuild the country.

    The Guardian said that away from the summit, British and Somali officials held talks about Somalia’s oil reserves.

    Bing maps

    The Puntland region of Somalia, where oil exploration is under way after two decades.

    Abdulkadir Abdi Hashi, minister for international cooperation in Puntland, north-east Somalia, told the Guardian, "We have spoken to a number of UK officials, some have offered to help us with the future management of oil revenues. They will help us build our capacity to maximise future earnings from the oil industry."

    Hashi said Somalia would talk to BP “at the right time” about technology needed to explore Somalia’s oil reserves.

    Last month the Canadian company Africa Oil began exploration in the Puntland, the first drilling in Somalia for 21 years.

    Hashi, who the Guardian said made the deal with Africa Oil, said the first oil was expected to be extracted within the next "20 to 30 days."

    Africa Oil and its partners in the two Puntland licenses, Australia's Red Emperor and Range Resources, are targeting prospective resources of over 300 million barrels of recoverable oil.

    The Guardian story comes amid reports from Reuters that an Islamist militia group in the semi-autonomous Puntland  merged with the al Shabaab rebel group, which wants to scrap the licenses of Western oil and gas firms drilling in Puntland.

    The al Qaida-backed insurgents used Twitter to declare all oil and gas exploration and drilling licenses nullified. While they do not hold the administrative control in the region needed to enforce their demand, the militants could target installations operated by Western oil companies, Reuters said.

    The union comes as the insurgents are being weakened, relinquishing ground to African Union troops around the Somali capital, Mogadishu, and losing territory to Kenyan and Ethiopian forces in parts of southern and central Somalia.

    Puntland security officials have previously said the Islamist militia camped out in the Golis hills outside the port city of Bosasso is led by Yasin Khalid Osman.

    "I ... the leader of Golis ranges Islamists have signed an agreement with al Shabaab leader Sheikh Muktar Abu Zubeir. We are now al Shabaab," a voice identifying itself as Osman said in an audio recording on al Shabaab's website.

    "I urge residents to take part in the jihad against the Christian invaders and the Somali infidels that work with them," he said, referring to the foreign troops inside Somalia.

    Osman rarely makes statements, and it was not immediately possible to verify his voice.

    This article contains reporting by Reuters.

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    • Canadian sled dog killings prompt new rules
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    64 comments

    Oil in Somalia ? Now we will see who the real pirates are ! AAAAAAAAAAARGH AHoy mateys, make way for BP and the gang of British Pirates !

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    Explore related topics: energy, oil, britain, somalia, al-qaida
  • 23
    Feb
    2012
    6:37pm, EST

    Actress Lucy Lawless boards ship to protest Arctic oil drilling

    Actress Lucy Lawless is shown protesting Arctic oil drilling Friday aboard the ship Noble Discoverer at Port Taranaki, New Zealand.

    By Becky Bratu, msnbc.com

    Actress Lucy Lawless and six other Greenpeace activists boarded an Arctic-bound Shell oil-drilling ship in Port Taranaki, New Zealand, on Friday morning, causing authorities to limit port access.

    The group scaled a 53-meter derrick on the Liberian-flagged Noble Discoverer around 7 a.m. local time.

    Lawless told msnbc.com that her heart was pounding and she was "a little shell-shocked" as they boarded, but that she now felt safe.

    "We don’t need to trash the Arctic to get three more years' worth of oil," she said in a telephone interview from the ship.


    Even as police warned them that they were breaking the law, protesters remained aboard.

    After about five hours, police told the protesters, including Lawless, they were under arrest and should come down.

    Lawless told police the group wasn't leaving and "we feel we have no choice morally but to stay here and get our message out," New Zealands' 3 News reported.

    Earlier, Greenpeace and Lawless tweeted the occupation.

    “I’m on one of the oldest drill rigs on the planet and it’s heading to the Arctic. Tell Shell to stop,” Lawless tweeted.

    Unique species
    James Turner, a spokesman for Greenpeace, told msnbc.com the occupation was the organization's last resort to stop Shell from drilling in the Arctic.

    "We simply don’t believe Shell's reassurances that this is safe," Turner said.

    He said the Arctic is the home of many unique species, and an oil spill would be virtually impossible to contain, given the area's remoteness. Turner also accused Shell of having a "poor record" regarding oil spills.

    Shell says it was "disappointed" with Greenpeace's actions, 3 News reported.

    "Actions such as this jeopardize the safety of everyone involved," the company said in a statement. "While we respect the right of individuals to express their point of view, the priority should be the safety of Noble Discoverer’s personnel and that of the protesters."

    "Shell has undertaken unprecedented steps to pursue safe, environmentally responsible exploration in shallow water off the coast of Alaska," the statement said.

    The ship was due to depart on a 6,800-mile journey to the Chukchi Sea off the coast of Alaska, New Zealand’s 3 News reported.

    A weekend departure was planned, but Shell said the protest halted ship operations.

    Turner said that Shell has a limited drilling window, given the Arctic's extreme weather conditions. Drilling can only take place when the sea ice in Alaska melts, usually between July and early fall, he said. During the rest of the year, thick ice makes drilling impossible.

    Turner said the occupiers have supplies for several days. "We’re there to stop the tanker from leaving," he said.

    'A peaceful protest'
    But Lawless, 43, said she wasn't sure how long they'd last aboard.

    "Our main aim is that this be a peaceful protest, but the law will do what the law has to do," Lawless told 3 News. "We do what we feel we have to do." She told msnbc.com that she and the other protesters have respect for the police.

    One person was arrested at the port gate, 3 News said.

    The police commander for New Plymouth, Inspector Blair Telford, told the New Zealand Herald that his office's role was to ensure any protest was lawful and that owners and crew of the ship were allowed to go about their lawful business.

    "The protesters are clearly breaking the law by trespassing on the ship and we are currently liaising with the Port of Taranaki and the harbormaster to decide the most appropriate course of action. Public safety is paramount.''

    Lawless is best known for her television title role as "Xena: Warrior Princess" and currently stars in Starz's "Spartacus" as Lucretia.

    She told msnbc.com she hopes her children will live in a better world. "Climate change profiteers should not be allowed to destroy our children’s future," she said.

    "Companies are addicted to oil; they’re begging an intervention," Lawless said. "Shell has the technology to be one of the world leaders in a clean energy economy."

    231 comments

    Thumbs UP for LAWLESS! Those morons at Shell have f- up plenty of spills, we thought the Gulf Spill was bad and the decades of hopeful recovery ahead with thousands of lost jobs and animals life in the hundreds of thousands easily may NEVER make a come back. So, a spill in the Arctic would be unimag …

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  • 19
    Feb
    2012
    10:06am, EST

    Iran Oil Ministry: Exports cut to Britain, France

    The Obama administration believes Iran "is a rational actor" and that talks could prevent a nuclear bomb. Israel disagrees. NBC's Andrea Mitchell reports.

    By msnbc.com staff and news services

    TEHRAN, Iran -- Iran has halted oil shipments to Britain and France, the Oil Ministry said Sunday, in an apparent pre-emptive blow against the European Union after the bloc imposed sanctions on Iran's crucial fuel exports.

    The EU imposed tough sanctions against Iran last month, which included a freeze of the country's central bank assets and an oil embargo set to begin in July. Iran's Oil Minister Rostam Qassemi had warned earlier this month that Tehran could cut off oil exports to "hostile" European nations. The 27-nation EU accounts for about 18 percent of Iran's oil exports. 

    According to the BBC, Qassemi reaffirmed his stance, claiming the suspension posed no problems for Iran.


    Targeting Britain and France appeared to be a political decision by Iran to punish the two countries for supporting tougher sanctions against Iran over its disputed nuclear program.

    "Crude oil exports to British and French companies have been halted," Oil Ministry spokesman Ali Reza Nikzad-Rahbar said on the ministry's website. "We have our own customers and have no problem to sell and export our crude oil to new customers."

    Britain's Foreign Office declined comment, and there was no immediate response from French officials.

    The European Commission said last week that the bloc would not be short of oil if Iran stopped crude exports, as they have enough in stock to meet their needs for around 120 days.

    Iran continues to flex its military muscle but appears willing to resume talks with world powers. NBC's Ali Arouzi reports.

    Industry sources told Reuters on Feb. 16 that Iran's top oil buyers in Europe were making substantial cuts in supply months in advance of European Union sanctions, reducing flows to the continent in March by more than a third - or over 300,000 barrels daily.

    France's Total has already stopped buying Iran's crude, which is subject to fresh EU embargoes. Market sources said Royal Dutch Shell has scaled back sharply.

    Greece, Turkey and Saudi Arabia
    Among European nations, debt-ridden Greece is most exposed to Iranian oil disruption.

    Motor Oil Hellas of Greece was thought to have cut out Iranian crude altogether and compatriot Hellenic Petroleum along with Spain's Cepsa and Repsol were curbing imports from Iran.

    Iran was supplying more than 700,000 barrels per day (bpd) to the EU plus Turkey in 2011, industry sources said.

    By the start of this year imports had sunk to about 650,000 bpd as some customers cut back in anticipation of an EU ban.

    Saudi Arabia says it is prepared to supply extra oil either by topping up existing term contracts or by making rare spot market sales. Iran has criticized Riyadh for the offer.

    Iran said the cut will have no impact on its crude sales, warning that any sanctions on its oil will raise international crude prices.

    The Associated Press and Reuters contributed to this report.

    More from msnbc.com and NBC News:

    • Report: UK anti-terror plan to sweep up phone, online records
    • Bus driver gets 17 months for mowing down bicyclist
    • Officials: US drones monitoring clashes in Syria

    683 comments

    Iran, you're becoming irrelevant in world affairs with the exception that at some point soon, someone is going to slap you down.......hard. Your knee-jerk, save your face "export cuts" to Britain and France is a joke. Get over yourself.

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  • 17
    Feb
    2012
    1:34pm, EST

    Oil price surge could dampen global recovery

    By John W. Schoen, Senior Producer

     

    A surge in oil prices sparked by saber-rattling from Iran is beginning to weigh on the global economic recovery, with potential ripple effects on consumers, corporate profits and interest rates.

    Drivers already are seeing the impact at the pump, where prices have risen by an average of 12 cents per gallon in just three weeks to more than $3.50 a gallon, according to a report out this week. Crude oil prices rose for a third straight day on U.S. markets Friday, topping $103 a barrel, and remained on track for a second straight week of gains.

    The cost of crude has been rising steadily since hitting a seasonal low in October, gaining upward momentum on escalating tensions with Iran after a series of moves by the U.S. and European Union to pressure Tehran to shut down a uranium enrichment program aimed at producing nuclear weapons.

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    The moves sparked fears among oil traders that Iran, the world's fifth-largest oil producer, may retaliate by disrupting the flow of oil through a critical Persian Gulf shipping channel.

    "The Iranians have a lot at their disposal to upset this market, whether by embargoing the (European Union) or even just creating some mischief," said oil industry analyst John Kilduff. "They don't even have to block the Strait of Hormuz, they just need to sink a ship, lay some mines and be disruptive."

    As Western nations bent on denying Iran access to nuclear weapons have ratcheted up the pressure, traders have been busy bidding up oil and gasoline prices. Last week, more than 350,000 gasoline contracts were open (each contract represents 1,000 barrels of oil) as hedge funds and commodity investors placed heavy bets that pump prices are heading even higher. Traders expecting prices to move higher bet some $10 billion more than those who see prices falling, the third-largest skew of all time, according to Tom Kloza, president of Oil Price Information Service.

    The timing of the price spike for crude comes just as oil refiners are getting ready to switch production from blending gasoline for winter use to building inventories formulated for summer consumption. That switch typically involves temporary refinery shutdowns that have pinched supplies in the past. That could produce a larger-than-normal spike this year when the summer driving season rolls around.

    Pump price jumped 0.9 percent in January alone, helping to fuel a 0.2 percent increase in the Consumer Price Index,  the Labor Department reported Friday.

    Higher driving costs are hitting consumers just as they're beginning to catch a break balancing their households budgets. Stronger job growth and longer hours have helped boost worker paychecks in the past six months. Household incomes will continue to benefit from a payroll tax cut and long-term jobless benefits, which Congress on Friday agreed to extend through the rest of the year.

    But that economic boost could be wiped out by another surge in gasoline prices: Every added penny at the pump diverts roughly $1 billion in consumer spending from other sectors of the economy. Gas prices peaked last year in May just shy of $4 a gallon, on average, and had been falling steadily before reversing course. Last week, the average price of a gallon of regular was $3.52, according to the Energy Information Administration.

    Friday's consumer price data also showed that the cost of all goods rose an unexpectedly steep 2.3 percent over the past 12 months. On top of higher gasoline prices, household budgets have also been squeezed by higher prices for food, clothing, health care and education.

    “While inflation has moderated, it is still higher enough to wipe out worker earnings,” said Joel Naroff, chief economist at Naroff Economic Advisors. "Even the moderate earnings growth is still not enough to improve consumer spending power a whole lot."

    Businesses also are feeling the pinch, especially heavy energy users such as airlines, shipping companies and chemical manufacturers. Many of those companies, though, have figured out how to pass along their higher costs to consumers.

    A temporary spike in oil and gasoline prices would be unlikely to have a lasting impact on the U.S. economy. If worries about the standoff with Iran subside, prices should ease back fairly quickly. U.S. crude inventories are near five-year highs for this time of year. While the gathering strength in the U.S. economy could push demand higher, that will likely be offset by the widening economic  slowdown in Europe.

    A longer-term rise in oil prices, though, could present problems for policymakers at the Federal Reserve, as they mull their next steps in trying to keep the economic recovery on track.

    The Fed last month said it plans to hold its benchmark interest rate at a record low near zero until late 2014.  That pledge could be hard to keep if inflation were to begin a sustained move upward. The Fed is forecasting that inflation will rise just 1.6 percent this year, below its target of 2 percent. Fed Chairman Ben Bernanke announced that target, the first ever for the central bank, last month.

    But the Fed's forecasts don't assume a sustained period of elevated oil prices. Until the standoff is resolved between Western nations and Iran, those inflation forecasts will be more difficult to make.

    That standoff could take months to play out.

    Last month, the U.S. imposed sanctions on foreign banks financing Iranian oil sales, and the Obama administration is deciding how widely to apply them. Congress is considering wider actions,  including a ban on ships that have docked in Iran, North Korea or Syria in the last two years; and sanctioning private companies involved in Iran's oil industry.

    As part of its coordinated campaign with other countries, the European Union last month imposed an embargo on Iranian oil that takes effect July 1. Since then, European countries have been making arrangements to secure other sources of supply.

    Are you worried about skyrocketing energy prices? Share your thoughts on Facebook.

     

     

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John W. Schoen

John W. Schoen has reported and written about business and financial news for more than 30 years. He began his career as a newspaper reporter and editor in Connecticut, moving to Dow Jones as radio newscaster and writer for The Wall Street Journal. As a reporter for the CBS Radio Network and public radio's Marketplace, he covered Wall Street's insider trading scandals and the Crash of '87. He joined CNBC several months before it went on the air i …

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