Russian state oil company Rosneft will increase output by a half by 2020 due to new assets and fields, according to its head as it aims to become the world’s top listed oil producer. Sergei Bogdanchikov said Rosneft will produce...
Venezuela has confirmed it has paid $1.8 billion in compensation to French, Norwegian and Italian oil companies for nationalizing key oil fields in the Orinoco basin in 2006. France's Total, Norway's Statoil and Italy's ENI gained the settlement after they...
The world's first commercial aircraft powered partly by biofuel took off from Heathrow yesterday to a storm of criticism from climate change experts, who insisted it was nothing more than Sir Richard Branson's latest "nonsensical" publicity stunt. The Virgin Atlantic...
Iraqi lawmakers across the political spectrum have criticized “overreaching” by Kurds, issuing a declaration yesterday opposing the self-ruled region's foreign oil deals. "There must be a formula for maintaining the unity of Iraq and the distribution of its wealth," said...
Biofuels have a limited ability to replace fossil fuels and should not be regarded as a "silver bullet" solution to reducing transport emissions, British scientists have warned. The report by Britain’s Royal Society warned that biofuels risk failing to deliver...
The directors of two Interior Department agencies said yesterday they're confident oil and gas exploration in the Chukchi Sea off Alaska can proceed without threatening polar bears that depend on the sea ice. The officials appeared before a Congressional committee...
Every week there seems to be a new report on the potential downsides of biofuels. This week it is the turn of British MPs. UK and European governments should not have pursued targets to increase the use of biofuels without...
The President of the European Commission Jose Manuel Barroso is urging companies to treat the fight against climate change as a business opportunity and not a burden. His call comes ahead of Wednesday's unveiling in Brussels of tough new greenhouse...
Iraq has extended a deadline for international companies to register to bid for a role in developing some of the nation's prized oil fields, until February 18, the Oil Ministry has confirmed. Early this month, the Ministry had asked companies...
For those worried about oil sands development in Alberta in Canada and what they will do to the climate and environment, they might also have to start worrying about events closer to home. Analysts say the lower 48 U.S. states...
