President Rafael Correa of Ecuador has announced that Ecuador will keep 99 percent of windfall oil profits, changing a law that called for a 50-50 share with foreign oil companies of profits stemming from rising oil prices. By a new...
Just days after American company Hunt Oil agreed a deal to explore in the Kurdistan region of Iraq, the deal has run into trouble. At the weekend, the Dallas oil company, with its close White House ties, became the largest...
The Anchorage Daily News reports how, when oil giant Shell ran into problems recently securing federal air pollution permits needed to launch its controversial offshore drilling campaign for this summer, the company went to the state’s top pollution regulator for...
BP may have changed leadership, but its old habits continue. The company BP has said that its US division will contest the latest safety citations and a fine imposed by federal regulators over hazardous conditions at the company's Texas City...
The Fourth of July was cool and rainy in Vermont, as it seems to be with surprising regularity. I suppose that’s why my town sets off its fireworks on the evening of July 3rd, which was perfect for pyrotechnics this...
Although retail giant, Wal-Mart has reclaimed the top spot on the latest Fortune Global 500 list from Exxon, Big Oil dominates the top ten. Exxon is number two on the list, Shell is at three, BP at four, Chevron is...
PetroChina is pulling out of a US$3.8 billion Alberta to British Columbia pipeline project that would have supplied crude oil to China from Canada's oil sands. Yiwu Song, vice president of China National Petroleum Corp., PetroChina's parent company, said the...
Well it was on the cards that with a change in leadership came a change in direction. Tony Hayward, chief executive of BP, is planning a cultural shift at BP by playing down Lord Browne’s emphasis on the environment and...
Basra, Iraq – On Monday, hundreds of Iraqis, led by the Iraqi Federation of Oil Unions (IFOU), took to the streets of Basra to demand that the Iraqi Parliament reject the proposed Oil Law. [1] Simultaneous demonstrations took place in...
Nigerian President Umaru Musa Yar'Adua has warned that oil companies operating in Nigeria must be made to pay heavy fines for oil spills caused by them. Taking a much stronger line than any of his predecessors, the President said that...
