China could obtain a 'very secure source' of energy if it decides to tap oil sands in the Canadian province of Alberta, according to the leading Canadian bank, Scotiabank. Alberta is forecast to produce 1.96 mln barrels per day of...
China’s oil giant, PetroChina is planning to raise $6 billion in a listing of new shares in Shanghai, to finance oil exploration and overseas acquisitions. The company has also recently announced a couple of significant discoveries. Last month PetroChina, which...
Exxon Mobil and ConocoPhillips have decided to abandon their heavy crude oil projects in eastern Venezuela rather than cede majority ownership and operating control to the government. Yesterday was the deadline set by President Hugo Chavez for the six foreign...
Can nothing go right for BP? Yesterday the company said it will shut down production of 100,000 barrels of Alaskan oil for a few days, after discovering yet another leaky pipe at a processing facility. Some 400,000 barrels of oil...
At the time of the 1989 Exxon Valdez disaster I remember that someone said “lawyers not yet born will work on this one”. Some seventeen years later the litigation continues. Exxon’s legal options look more constrained though after a federal...
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...
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,...
As the campaigners attack Shell in London (see below) it has been announced that the first crude oil pumped by a foreign company in Iraq in decades will flow into the global market next month. DNO, a Norwegian oil company,...
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...
A group of 40 German NGOs called on G8 Environment Ministers today to phase out fossil fuel subsidies at home and use their influence to steer the World Bank away from fossil fuels and towards a new energy revolution. A...
