As US gasoline prices hit a near-record $3.05 a gallon, Democrats in Congress are promoting legislation taking aim at Big Oil - although industry experts say that the efforts aren't likely to have any effect at all. Sen. Charles Schumer,...
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...
UPDATE 5/14 - the strike deadline has now been moved until Thursday May 17th. Take Action to Urge the US Congress to drop the Iraqi Oil Law "Benchmark" Oil Strike Postponed for Negotiations with Prime Minister Monday May 14th -...
The violence in the Niger Delta is escalating. Fighters from the Movement for the Emancipation of the Niger Delta (MEND) today claimed to have destroyed three major oil pipelines in the region. MEND said the Italian oil firm Agip's Brass...
Environmental organizations today applauded Rep. Maurice Hinchey (D-NY) for introducing legislation that seeks to end subsidies for the international operations of oil companies. The “End Oil Aid” bill, introduced yesterday, calls on international financial institutions including the World Bank, Export...
The world's largest gas exporters have ruled out launching an Opec-style cartel that would control 70 per cent of the world market. Instead they promised “collaborated efforts” on issues such as pricing. Energy ministers from the 13 largest gas exporters...
President Hugo Chavez has set a May 1 deadline for an ambitious plan to wrestle control of several major oil projects from American and European companies. So a showdown seems inevitable, with officials warning that they might sell American refineries...
If the oil price was not jittery enough over the Iranian seizure of 15 British sailors and marines, the news from Nigeria over the last few days has not helped stabilise the increasingly volatile oil price. Early on Saturday morning...
The increasingly tense standoff between Iran and the UK over the fate of 15 British sailors and marines captured by Iran has helped drive crude oil prices to a six-month high. Traders sent the price of crude oil up by...
China may have sat out the Iraq war, but that does not stop it eyeing up the spoils of war. Desperate to find it new sources of oil to fuel its growing economy, it could be the first country to...
