British oil driller BP is on the verge to lose its license for the Kovykta gas field when a Siberian court declined to hear its arguments.
The Russian government is getting back all stakes in state’s hand to get monopoly over its oil...
Archive - May 2007
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Oil prices fell a dollar after Nigerian oil unions suspended their two-day strike that caused to disrupt oil shipments from the world's eighth-largest oil exporter over the weekend.
Ongoing strike suspension gives an ease to the market, as light,...
US senators have shown their indignation on oil giant BP and have asked them to clear their basis to reduced capacity of refineries, drilling at their half capacity in the peak US summer season.
Senator Pete Domenici, member of the Senate...
Soaring oil prices seem to break all previous records when the market witnessed a nine-month high near US$72.
This recent surge is apparently pushed by a strike threat in Nigerian oil field and a mounting pressure for imposing tougher sanctions...
BP PLC, the BP Russian unit can lose its license to drill in Eastern Siberia's largest known natural-gas field, if oil western giant will fail to get over their contractual target.
TNK-BP will be inspecting on May 23 on its production at the...
The average price of self-serve regular gasoline has hit a record high of $3.18 per gallon.
According to the nationwide survey that was released on May 20 the increase is 11 cents over the past two weeks. Similarly the mid-grade gasoline costing...
Increasing oil prices are forcing consumers to lose the weight of their pockets. Two consumer groups unveiled that in 2006 U.S. families paid $1,000 more on average for gasoline than in 2001, as higher oil prices ate up a hefty portion of the income....
Fidelity Investments Inc. has reduced its stake significantly in PetroChina Co., China's largest oil producer, by more than 90 percent of American depositary receipts in the middle of calls for the mutual-fund giant to divest from companies linked...
BP America President Robert Malone has finally acknowledged on Wednesday that budget pressures made life difficult for company workers trying to safely operate BP's pipelines in Alaska's giant Prudhoe Bay. However, Malone has stopped short of...
U.S. gasoline prices raised to a record $3.10 a gallon topes all time high $3.07 a gallon in September 2005 after Hurricane Katrina disrupted refinery operations and oil production along the Gulf Coast. The price increased for regular unleaded...
Russia, Turkmenistan and Kazakhstan have agreed to build a new natural gas pipeline around the Caspian Sea, giving Russia significant control over Central Asia's massive natural gas reserves.
The agreement ensures Russia's supremacy over...
Shell Oil, the Houston-based petro-major has launched a new PR exercise to overcome oil industry's avaricious image. But under this grab, a political agenda pitching for off shore oil exploration glints with a smile.
On Thursday, John Hofmeister...
The International Energy Agency has warned of a summer of worries in global oil and products markets unless the Organization of Petroleum Exporting Countries introduces a substantial output increase shortly. In its closely watched monthly...
Democrats in the US Congress have decided to take on big oil companies after the gasoline prices hit a near-record $3.05 per gallon within a week. Picketing in front of an Exxon station near the Capitol Hill, half a dozen senators belonging to the...
Several of the big names in the oil industry failed to turn up at the auction of oil blocks that the Nigerian government undertook yesterday. The outgoing Nigerian government put up for auction nearly 45 oil exploration licenses on Friday, but...
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