US allows Shell to drill for oil in Arctic Ocean


The US government on Tuesday gave Royal Dutch Shell the final permit it needs to drill for oil in the Arctic Ocean off Alaska's northwest coast for the first time in more than two decades.

The Bureau of Safety and Environmental Enforcement announced that it approved the permit to drill below the ocean floor after the oil giant brought in a required piece of equipment to stop a possible well blowout.

The agency previously allowed Shell to begin drilling only the top sections of two wells in the Chukchi Sea because the key equipment, called a capping stack, was stuck on a vessel that needed repair in Portland, Oregon.

Because the vessel arrived last week, Shell is free to drill into oil-bearing rock, estimated at 8,000 feet (2,400 meters) below the ocean floor, for the first time since its last exploratory well was drilled in 1991.

Activities conducted offshore Alaska are being held to the highest safety, environmental protection, and emergency response standards," agency Director Brian Salerno said in a statement Monday. "We will continue to monitor their work around the clock to ensure the utmost safety and environmental stewardship." 

Environmental groups oppose Arctic offshore drilling, saying industrial activity will harm polar bears, Pacific walrus, ice seals and whales already vulnerable from climate warming and shrinking summer sea ice. They say oil companies have not demonstrated that they can clean up a spill in water choked by ice.

Sierra Club executive director Michael Brune said in a statement that President Barack Obama's decision to grant Shell the final drilling permits goes against science, the will of the people and common sense.

"Granting Shell the permit to drill in the Arctic was the wrong decision, and this fight is far from over," he said.

"The people will continue to call on President Obama to protect the Arctic and our environment." 

The US Geological Survey estimates that US Arctic waters hold 26 billion barrels of recoverable oil, and Shell is eager to explore in a basin that company officials say could be a game-changer for domestic production.

Shell bid $2.1 billion on Chukchi Sea leases in 2008 and has spent upward of $7 billion on exploration there and in the Beaufort Sea off Alaska's north coast.

Oil prices Slide Further in Asia

SINGAPORE:  Oil prices slipped further in Asia Tuesday, weighed down by a strengthening dollar as concerns about weakening demand in China added to expectations a global oversupply will last for years.

US benchmark West Texas Intermediate for September delivery was down seven cents to $41.80 in late-morning trade. WTI has lost more than 30 percent in the past two months, bringing it to the lowest level since March 2009.

Oil has led a slump in energy commodity prices in the past month "due to concerns about falling demand from China and robust global supply, especially in the US," research house Capital Economics said.

BMI Research, a subsidiary of financial information provider Fitch Group, predicted the glut will persist until 2018.

The return of Iranian oil to market, coupled with strong project pipelines in North America, the Middle East, west Africa and Kazakhstan, will see global supply expansion outstrip the growth in global consumption for the next two years," it said.

Punishing Western sanctions that have restricted Iran's oil exports for years are expected to be lifted once it is verified that Tehran is complying with a deal to curb its nuclear ambitions.

Analysts say the return of Iranian oil will add to the current excess, further dampening prices.

Pakistan's Punjab province home minister 

killed in terror attack 

Pakistan’s Punjab province Home Minister Shuja Khanzada was assassinated today when a suicide bomber blew himself up at his house in Attock district, killing at least 12 people and injuring several others in the brazen attack.

Khanzada and a DSP were among the 12 people killed when the suicide bomber attacked his political office in his native Shadi Khan village Radio Pakistan reported.
At least 20 people were also injured in the blast.


Saeed Elahi , advisor to Punjab Chief Minister Shahbaz Sharif, confirmed the death of the Home Minister in the suicide bombing.

US Country singer Lynn Anderson Passes 
Away

She had won a Grammy award for Rose Garden and in 1971, she was also the Country Music Association’s female vocalist of the year. Alongside her singing career, she had appeared in number of television series.

She was best known for her 1971 worldwide hit I Never Promised You a from Rose Garden. Lynn Anderson was born in North Dakota and was raised in Sacramento, California. She was daughter of two country songwriters and started her career at the age of 6. Her other US hits are How Can I Unlove You?, You’re My Man and Top of the World.

Germany Wants to Resume the NATO - Russia Council 

Germany is arguing with partners of the North Atlantic Alliance on the issue of resuming the Russia-NATO Council: Germany stands for,but not all of the partners in the organization agree, news agency DPA reports, referring to Germany's ambassador to NATO Martin Erdmann.

According to Erdmann, many NATO members regret lack of dialogue with Russia. The list of countries which are opposed to the resumption of the Council was not disclosed, but the agency notes that it is mainly the countries of Eastern Europe.

                                           

Sri Lankan government decided to renovate temples destroyed in Nepal Quake 

Sri Lanka government on 31 July 2015 announced its decision to repair and renovate one Hindu and one Buddhist temple in Nepal that was destroyed in the recent earthquake .

Sri Lankan Army will handle the repair work which will be coordinated by Ministry of Buddha Sasana. Accordingly, a group of officers and technical craftsmen will be sent to Nepal to plan the above task shortly.

According to government spokesman, Sri Lankan cabinet in fifth week of July 2015 decided to undertake the repair of Buddhist temple in swayambhunath and Hindu temple of Rato machindranath in Lalitpur at a cost of 34 crore Sri Lankan Rs.

Quetta Blast Case Registered 

QUETTA: An FIR has been registered at the Civil Line police station against unknown culprits involved in the blast allegedly targeting Adviser to Chief Minister on Education Sardar Raza Mohammad Barech vehicle on Joint Road in Quetta on Tuesday, Geo News reported Wednesday.

According to police, the case of the blast that occurred near the vehicle of Sardar Raza Mohammad Barech has been registered on the complaint of an injured citizen against the unknown miscreants.

The FIR included attempted murder, explosives act and anti-terrorism provisions, however, no arrest has been made so far.

It may be mentioned that Sardar Raza Mohammad Barech narrowly escaped an explosion on Joint Road on Tuesday. Two persons were wounded in the blast allegedly targeting Barech's vehicle. Fortunately, he and his driver remained unhurt in the explosion.