Oilgame

It's assumed that constant development isn't possible without putting environment on stake. However, oil rich country, Ecuador proved it wrong, as President Rafael Correa has come up with an unusual solution to preserve its environment. The...

American energy firms Exxon Mobil and Conoco Phillips have rejected Venezuelan government offer to work with the state-run Petroleos de Venezuela, S.A. Venezuela has nationalized its oil industry and told international companies to either partner..

Unstable oil prices have already eaten into the many economies and big consumers like US and European countries are accusing Iran, Iraq, Russia and Venezuela for it. If the western countries' allegations are right than we should praise...

Ultimately, British oil giant BP is knees down before Russians as it has agreed to sell its stake in Kovykta field to Gazprom. BP, which drilled oil in Siberian oil field with Russian driller TNK, will get $700 million to $900 million for its...

Royal Dutch Shell PLC posted 18 percent upsurge in the second quarter, apparently boosted by the asset sales and increases margins at oil refineries. Shell's net profit surged to $8.67 billion, which is a record for quarterly earnings in...

Oil prices are surging incessantly, thanks to political mishmash among the oil producers. Currently, oil is available at $75.57 a barrel and it is highly anticipated that very soon it will cross the three digit marks. The Goldman Sachs Group has..

Venezuelan president Hugo Chavez urges Russia to increase its investment in his country as Venezuelan government has pushed western investors out from the state and those who are providing their services in Venezuela they are under immense pressure to...

Man's greed knows no boundaries. The next gold rush is to the freezing Arctic Ocean. The hullabaloo started after Russia planted its flag in the ocean bed and staked its claim over the part of Arctic Ocean called North West passage- which remains...

Royal Dutch Shell and Russian oil giant Rosneft, has signed a deal to explore possibilities of working together to develop oil fields and market gasoline and other petroleum products worldwide. The deal seems to help both oil drillers as Rosneft...

Gazprom confirmed French energy major Total as its partner to develop the Shtokman natural gas field. Total will control 25 percent stake to finance, build and own the field's infrastructure. ConocoPhillips, Chevron, Statoil, and Norsk Hydro...