Under huge political pressure, Saudi Arabia will raise oil production to record levels by pumping an extra half-a-million barrels of oil a day, bringing their production to 9.7 million barrels a day. That would be a rise of 550,000 bpd...
As oil creeps towards an unprecedented $150 a barrel the Indian Petroleum and Natural Gas Minister Murli Deora has denied that India and China were responsible for the recent oil rise. Deori said that the growth in consumption in India...
We have said it before and we will say it again. Once an oilman always an oilman. You can’t get crude out from your veins. Yesterday, in a sop to his oil industry buddies, George W. Bush lifted an executive...
EnCana Corp, Canada's biggest energy company, is going to buck the trend in the oil industry of mergers, and split into two separate oil and natural gas firms in an effort to wring out more value with crude prices at...
It wasn’t so long ago that the world worried when oil would reach $100 per barrel. Now oil is close to $120 and shows no sign of slowing down. The record price hike was due to nearly North Sea production...
Like a record stuck in a bad groove, President Bush has reiterated his call for Congress to open more areas for drilling, including ANWR. "If Congress is truly interested in solving the problem, they can send the right signal by...
Pity poor Ron Stevens, Alberta's deputy premier, who is in Washington to spin the oil sands story and tell Congress that the province represents an "environmentally responsible source of energy supply to the United States". The timing could not have...
Iraq's cabinet has given the green light to the Oil Ministry to sign agreements with international oil companies to help increase the nation's crude output. The two-year deals, known as technical support agreements, or TSAs, are designed to develop five...
This is an interesting story that could have wide reaching implications. A Federal Court decision has sent Imperial Oil's $7 billion Kearl oil-sands project in northern Alberta back to a review panel over concerns over greenhouse gas emissions. Yesterday's ruling...
Ever fancied having you own oil supply on tap? Nigerian security forces have discovered a pipeline they say was used by a powerful Niger Delta gang leader to steal petroleum products from a state oil refinery. The pipeline runs from...
