There has been a growing movement amongst communities from the South that are affected by oil exploitation to keep the “oil in the soil.” Campaigners from both Nigeria and Ecuador have long mooted the idea, and so have some governments....
First it was President Obama who delighted his audience when he undertook a whistle-stop tour. Now Secretary of State Hillary Clinton is embarking on a seven-country tour of Africa. Why is she going? It couldn’t be so crude to be...
Yesterday was the 20th Anniversary of America’s worst oil spill, the Exxon Valdez. It may be twenty years but the scars of the disaster are still being felt today. Take a quick glance at Prince William Sound and you would...
Do you remember the days when oil was only $100? Although there has been speculation in recent days concerning the oil price, one of the most authoritative predictions so far has the price of crude oil at $200 within as...
Venezuela has announced plans to ship oil to Portugal in exchange for food products and other goods that have been running short in the South American country. Venezuela, Latin America's largest oil producer, will send as many as 30,000 barrels...
Iran, OPEC's second-largest producer, has completely stopped conducting oil transactions in U.S. dollars, a top Oil Ministry official has admitted. It is a concerted attempt to reduce reliance on Washington at a time of tension over Tehran's nuclear program and...
Interesting move this one, which could far-reaching implications for both the oil majors and the climate as it could make it easier for people to invest in oil sands. The US Securities and Exchange Commission is looking at putting Alberta's...
A new report says the Iraqi Government could earn an extra $19.2 billion of revenue this year as a result of higher crude oil prices and the revival of the country's own oil industry. The prediction is suggested by figures...
Slowly but surely the unthinkable is becoming thinkable. The days of “peak” are fast approaching, and such is the shortage of new areas coming on stream that there is a “production ceiling” to the amount of oil that can be...
Slowly but surely, it creeps ever upwards as crude oil passed the $90 a barrel milestone. The magic $100 a barrel is now only $10 dollars away as crude oil prices show no sign of slowing down. Persistent worries about...
