Oilgame

After nationalizing country's oil reserve, Venezuela government has forced foreign oil drillers to sign a pact, in which they will sell their majority stakes to state-run Petroleos de Venezuela, S.A. New norms have forced to change hands as...

A U.S. federal appeals court has thwarted Royal Dutch Shell Plc's plan to drill the deepest offshore Alaskan oil well amid the concern of project's adverse effect on bowhead whales and other animals. A federal court in San Francisco accepted the...

Love him or hate him, but you have to like the way he flaunts his oil reserves. The fact that Venezuela has the largest proven oil reserves outside of the Mid-east has permitted Hugo Chavez (Venezuela's President) to do a lot of things which he...

The vicious side of global warming is apparent to all and most of the nations are pledged to take possible measures on it. Oil drillers are widely criticized and pressurized to minimize their proven role in it. After decades of environmentalists'...

Gazprom and Italian oil firm Eni have agreed to build a massive pipeline to take Russian gas under the Black Sea to Europe. In the 50-50 joint venture, 'South Stream' stretch of pipeline is 900km, which will pass through Bulgaria and then branch..

World oil production peaked in 2006 and is likely to reduce to half of current production in 2030. Peak Oil represents the situation when amount of oil that can be extracted in a year begins to decline , because geological limitations are reached....

China's oil company, China National Petroleum Corporation (CNPC) and Indonesia's PT Pertamina have put international pressure aside taking initiative to co-develop a Sudanese offshore oil block. The newly signed agreement provides six-year...

The Senate rejects another two additions coal-to-liquid proposal bill by huge margin amid the growing concern of increasing global warning. The bill, which proposed to liquefy the coal to meet with the scarcity of petroleum, got sarcasm from the..

British oil and gas company Tullow Oil has discovered 600 million barrels of oil off the Ghanaian coast, illustrating the growing importance of Africa in efforts to quench the world's thirst for energy. Oil driller has earlier expected about 250..

Increasing budget for the future’s energy source ‘biofuels’ has spurred the din among the oil producer and looking for the measure to combat with the forthcoming problems. Oil producers have pulled out their plan to increase...