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ExxonMobil may have record a whopping $11 billion profit yesterday, but its share still fell nearly 4 per cent as analysts warned that the company might fail to grow at all in the next five years. The bottom line is...

The Iraqi Oil Minister Hussein Al-Shahristani has said the country will likely drop oil service contracts with foreign companies if they don't have their proposals finalized by a June deadline and will move forward with the work on its own....

ENI’s chief executive Paolo Scaroni said he is “certain” the company will return to doing business in Iraq as soon as it is safe to do so, because it represents such an “opportunity”. "What we know for sure is that...

Quietly working behind the scenes, negotiators are hammering out a new draft Iraq oil law after previous versions of the controversial legislation stalled. "Shortly, we'll see a new draft which there is more common ground," Abdul-Hadi al-Hasani, deputy chair of...

Nigeria's plans for the reform of its state oil behemoth will be presented to President Umaru Yar'Adua by the end of April, according to the country’s Oil Minister Odein Ajumogobia. The Nigerian National Petroleum Corporation (NNPC) is a partnership with...

It seems the Iraqi and American governments are not waiting to pass the controversial oil law to develop Iraq’s oil as things are moving a pace in the oil sector. Last week, General David Petraeus called on "large Western corporations"...

The pilot of a ship that spilt 58,000 gallons of oil into San Francisco Bay killing some 2000 birds in November 2007 has been charged with criminal negligence. John Cota, who was also charged with breaking environmental laws, faces 18...

Iraqi Oil Minister Hussein Sharistani said Iraq intends to almost double its oil production over the next two years per day from 2 million bpd to 4.5 million bpd within two years'. He said the goal will be reached thanks...

Major commercial fish stocks around the world could collapse within decades as global warming compounds damage from pollution and overfishing, according to the UN. "You overlay all of this and you are potentially putting a death nail in the coffin...

Remember when we used to talk about how the war in Iraq was about oil? Remember the banners that read "No blood for oil?" Oil has fallen out of the discussion lately, but it's time to bring it back in...