Tony Hayward, BP’s chief executive, yesterday gave the market a strong signal that he wants to realise value from the company’s loss-making investments in renewables. BP has invested billions of dollars in solar energy over the past decade but the...
Even as the United Nations maneuvers toward a vote on expanded sanctions against Iran - which Beijing has reportedly approved - China's main offshore oil and gas company is reported to have signed a $16 billion deal to develop an...
Great editorial in today’s New York Times, which argues that “One of the major shortcomings in last year’s admirable energy bill was its failure to extend vital tax credits to producers of wind, solar and other renewable fuels. This was...
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...
After 10 years of delays since oil was discovered off the Falkland islands, oil companies are planning to start drilling within the next 12 months. The move follows the conclusion of lengthy, but successful, tests by geologists and significant cash...
Shell has ongoing problems with its oil reserves, with the oil giant once again having to slash its reserve figures from last year by more than half. This takes about 1.3 billion barrels of oil off its books, equivalent to...
The growing row between Shell and the Nigerian Government over financing has taken a turn for the worse. The Nigerian Government has now scrapped an oil bonus scheme that rewarded Shell in a further escalation of the confrontation between the...
No surprises here either. Exxon Mobil said yesterday that it is interested in helping to develop Iraq's huge oil reserves. "If the Iraqi government decides it wants international oil companies to partner with them in developing their resources, Exxon Mobil...
Last October the Government of Nigeria gave the multinational oil companies in the country a firm ultimatum: “The Federal Government policy to stop gas flaring commences on Jan. 1, 2008, and any company which flares gas after that time would...
A new report comparing the environmental performance of Alberta's oilsands producers against each other has found that even the winners have little to brag about. The groundbreaking study by the Pembina Institute and the World Wildlife Fund, compares 10 operating...
