The US House of Representatives missed an important opportunity to end oil aid in a bill [Acrobat pdf] that will “re-authorize” the Overseas Private Investment Corporation (OPIC) – one of two agencies in the US government that uses taxpayer dollars...
Predicting the price of oil is getting as difficult as predicting this Summer’s weather. It was only recently that a $100-a-barrel was being muted a possibility by 2009. Now it seems it could be as early as next year. Jeffrey...
Iraq's crude oil shipments to the United States have fallen to the second lowest monthly level in almost four years, the U.S. Energy Department has confirmed. Iraq exported 341,000 barrels of crude oil a day that month to the U.S....
Under pressure to preserve the environment while at the same time ease the poverty of his people, Ecuadorean President Rafael Correa has come up with an unusual and novel solution. President Rafael Correa has startled Wall Street with talk of...
The $100 dollar a barrel draws closer. Middle East members of the oil cartel Opec are under pressure for an immediate rise in production, after a warning from investment bank Goldman Sachs that prices could hit $95 a barrel this...
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...
The price of oil jumped to an 11-month high yesterday, moving even closer to record levels hit last summer as fears mounted over shortages in supply. Brent crude jumped to $77.07 briefly during early-afternoon trading, within $2 of the all-time...
A Mexican guerrilla group has claimed responsibility for a series of bombings of oil and gas pipelines operated by Pemex, the country’s national oil company. Explosions sent flames nearly 1,000 feet into the air outside the city of Corregidora, in...
Nicolas Sarkozy has begun his first visit to Algeria on his maiden tour outside Europe since his May election. The French President arrived in Algiers yesterday seeking to boost energy and military ties. He had a working lunch with Abdelaziz...
Just as the debate rages of Iraq’s oil law, new government figures show that Britain is now importing only the tiniest fraction of its oil from the Middle East, sourcing its crude instead from the Americas, Africa and Norway. An...
