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...
Anyone who read yesterday’s blog on oil sands will know it’s a fuel with serious ecological and social problems. Well, Canadian oil sands producers should brace for further bad news - this time from south of the border. David Pumphrey,...
The Russian mid-sized oil firm Tatneft has given Shell’s operations in Russia a boost by choosing it as its partner in developing vast deposits of heavy bitumen oil in the Volga region in the republic of Tatarstan. Although no specific...
Venezuela and Cuba will begin jointly exploring for oil in Cuban waters in the first such venture between the two nations. Petroleos de Venezuela SA, or PDVSA, said in a statement that the project with Cuba's CUPET energy company covers...
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...
Although oil production on the North Slope is in steady decline, its largest operator, BP, remains bullish about the future because of the region's untapped resources. BP says the region is teeming with enough natural gas and heavy crude oil...
The costs of developing major oil sands projects in Alberta are spiralling ever higher, as a consortium led by Petro-Canada estimated yesterday that the first stage of its Fort Hills development will cost a huge $14.1-billion. The project - the...
Here is the official news: Oil giant Royal Dutch Shell has driven the FTSE London market to a new five-and-a-half year high, as shares in the company lifted 3 per cent after its third quarter figures came in better than...
