India is planning to attract investment commitments of $7-8 billion in the oil and gas sector in its seventh round of the New Exploration and Licensing Policy (Nelp) auctions. This time, the Ministry of Petroleum and Natural Gas is planning...
Just getting used to oil prices around $100 a barrel. Well Thailand's Energy Minister Piyasvasti Amranand has said that global oil prices could surge to US$200 per barrel if the United States goes to war with Iran. Speaking at a...
Nigeria is to invest $75 billion over the next five years in the oil and gas sector through joint venture partnership with oil companies and third party investment. Minister of State for Petroleum, Odein Ajumogobia made this known in Saudi...
If you sit down and enjoy a glass of wine tonight with your evening meal, you can be thankful that your car does not run on the stuff. Hugo Chavez, Venezuela’s president said yesterday that that record crude prices are...
Oh the cruel irony. As delegates in Bali are joined by low lying Pacific Islanders alarmed at the rate that homes are submerging under water, its business as usual for the oil industry. Their message to Bali is: two-fingers to...
The oil and gas industry will need as much as $21.4 trillion in capital expenditures between now and 2030 to meet sharply growing global demand for hydrocarbons forecast by experts, according to analysts. Larry G. Chorn, the chief economist for...
If relations between Russian President Vladimir Putin and George Bush were frosty then they are set to become a whole lot frostier, after he said the U.S invasion of Iraq was mainly aimed at controlling the Gulf state's oil reserves....
Mexico has started to evacuate 13,360 workers from its Gulf of Mexico oil rigs as powerful hurricane Dean neared. According to state oil company Pemex, which produces some 70 per cent of its crude oil from offshore platforms in the...
And so it goes on….Exxon is making a final appeal for a review of a court decision ordering it to pay $2.5 billion in punitive damages for the Exxon Valdez oil spill in 1989. Exxon has been belligerently battling the...
As crude oil prices rose over $78 a barrel, the Financial Times reports how OPEC is offering a small production increase in an effort to cool the rising prices and reassure industrialised countries. The upward trend towards $80 a barrel...
