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...
On March 24, 1989 eleven million gallons of North Slope crude oil began pouring out of the Exxon Valdez oil tanker into the pristine waters of Alaska’s Prince William Sound. Hundreds of thousands of fish, seabirds, bald eagles, otters, seals...
China may have sat out the Iraq war, but that does not stop it eyeing up the spoils of war. Desperate to find it new sources of oil to fuel its growing economy, it could be the first country to...
If the oil price was not jittery enough over the Iranian seizure of 15 British sailors and marines, the news from Nigeria over the last few days has not helped stabilise the increasingly volatile oil price. Early on Saturday morning...
China Petroleum & Chemical Corp - better known as Sinopec – has signed a $3.5 billion contract with Saudi Aramco and Exxon Mobil for a refinery in southern China's Fujian province. The refinery in Quanzhou will have a crude refining...
After 20 years of isolation, Libya has become the new “destination of choice” for oil companies trying to find new reserves. "It's a race for our black gold," president of the National Oil Company Shukri Ghanem said. "We are organising...
