Can nothing go right for BP? Yesterday the company said it will shut down production of 100,000 barrels of Alaskan oil for a few days, after discovering yet another leaky pipe at a processing facility. Some 400,000 barrels of oil...
The already jittery oil price has risen even further after Nigeria's powerful oil unions began a strike yesterday at the state-owned oil company, the Nigerian National Petroleum Company as well as the Petroleum Ministry. They are also threatening to target...
US House of Representatives Speaker Nancy Pelosi has urged President George Bush to compromise with other G8 countries to fight climate change at the G8 summit next week. Pelosi and a bipartisan delegation of congressional leaders have just visited Greenland...
BP has secured a $900m (£455m) gas exploration deal with Libya, in a sign of Tripoli’s transformation from pariah to attractive investment destination for UK and US companies. Tony Hayward, BP’s new chief executive, described the agreement as the group’s...
Exxon's CEO, Rex Tillerson, has said that rising costs to build pipelines to exploit Arctic natural gas from Alaska and Canada could soon be uneconomic. Tillerson said that the cost estimate to build a gas line from Canada's Mackenzie Delta...
Democratic presidential hopeful John Edwards has called for a federal investigation into possible antitrust violations by the oil industry and criticized oil companies for raising gas prices. "There's absolutely no justification for the gas companies to be as profitable as...
A statement released June 1 by the US Government Accountability Office (the "investigative" arm of Congress), finds that "the US federal government receives one of the lowest government takes [from oil and gas development] in the world." The testimony, delivered...
Lawyers for Total have asked a French court to acquit the oil giant over a December 1999 oil spill that killed some 75,000 birds off the western coast of France and caused hundreds of thousands of dollars in damage. The...
British Member of Parliament, Michael Meacher, has introduced an “early day motion” that calls on the British aid agency, the Department for International Development, to stop subsidizing oil companies through development agencies like the World Bank. Other Members of Parliament...
Increasing state ownership and rising resource nationalism are emerging as the main long-term threats to global oil supplies, argues the consultancy, PFC Energy. The report highlights the shift in power towards state-controlled national oil companies. Multinationals own or have access...
