The Lebanese coastline remains heavily polluted from last year's Jiyyeh oil spill and cleaning efforts have not achieved the desired result, according to local NGOs. Their conclusions contrast sharply with reports by other NGOs and the United Nations Environment Program...
Ecuador's government is planning an additional investment of $180 million into the state-owned oil company Petroleos del Ecuador, or Petroecuador, to halt declining production levels, the Economy Minister Fausto Ortiz has said. Without this investment, Petroecuador's oil production will likely...
As we have reported on the blog, the bout of oilsands fever sweeping through northern Alberta shows no sign of slowing down. Last week there were a staggering $38 billion in deals. This huge investment shows that skyrocketing construction costs...
Just as the debate rages of Iraq’s oil law, new government figures show that Britain is now importing only the tiniest fraction of its oil from the Middle East, sourcing its crude instead from the Americas, Africa and Norway. An...
A Mexican guerrilla group has claimed responsibility for a series of bombings of oil and gas pipelines operated by Pemex, the country’s national oil company. Explosions sent flames nearly 1,000 feet into the air outside the city of Corregidora, in...
The price of oil jumped to an 11-month high yesterday, moving even closer to record levels hit last summer as fears mounted over shortages in supply. Brent crude jumped to $77.07 briefly during early-afternoon trading, within $2 of the all-time...
The $100 dollar a barrel draws closer. Middle East members of the oil cartel Opec are under pressure for an immediate rise in production, after a warning from investment bank Goldman Sachs that prices could hit $95 a barrel this...
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...
