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Oil

What went wrong? Source of California oil spill still elusive
The company operating the pipeline that recently leaked thousands of gallons of crude oil off the California coast says it may be months before investigators learn what went wrong.

22.05.2015 19:57

Volunteers strive to clean CA beaches, save wildlife after massive oil spill (PHOTO, VIDEO)
Clean-up crews are working day and night to remove 100,000 gallons of oil that fouled a stretch of California coastline after a pipeline ruptured Tuesday. It is the biggest oil spill in the Santa Barbara area since 1969.

21.05.2015 16:22

​Busted pipeline leaks 21,000 gallons of oil off California coast
A busted pipeline off the California coast spilled approximately 21,000 gallons of oil into the ocean and onto beaches Tuesday as officials scrambled to secure the area, Reuters reported.

20.05.2015 02:18

Texas officially prohibits cities from banning fracking
A new Texas law signed by Republican Governor Greg Abbott prohibits cities and towns from imposing local ordinances to prevent fracking and other potentially environmentally harmful oil and natural gas activities.

19.05.2015 02:10

Oil price to reach $80 by 2017 – Iranian oil minister
Iran hopes its crude oil exports will be back to the pre-sanctions level of 2.5 million barrels per day (bpd) and the oil price to rise to around $80 a barrel by end of 2016, according to Iran’s Deputy Oil Minister Rokneddin Javadi.

18.05.2015 07:04

Tanker engaged by Iranian vessels liable for $300mn in damages to oil rig – Tehran
A Singapore-flagged tanker which, owner claims, came under Iranian navy fire in the international waters off the UAE this week, is wanted over the unsettled $300mn debt in damages it caused to an oil rig in late March, according to Iranian official.

16.05.2015 02:44

2004 Gulf of Mexico oil spill could leak another 100 years - report
An oil leak that occurred when an offshore platform toppled during Hurricane Ivan in 2004 has continued to spill oil into the Gulf of Mexico – and could keep leaking for another 100 years, according to documents obtained by The Associated Press.

16.05.2015 02:51

The Fuller Picture - Iran, Russia and TPP: Obama tries to pivot to Asia
This week US relations with Saudi Arabia cool down, while heating up with Russia and Iran. Is the US considering a sweeping change to foreign policy?

15.05.2015 13:10

​Private US oil company to drill near Deepwater Horizon
A privately owned US oil company, LLOG Exploration Offshore has been given permission to drill near BP’s Deepwater Horizon, the place of largest oil spill in US history.

14.05.2015 16:28

Saudi Arabia claims success in tussle for oil market share
Saudi Arabia claims its oil price policy of taking investment away from US shale producers and other foreign competitors is succeeding. The OPEC kingpin continues pumping near record volumes to win market share in the global oil ‘battle’.

14.05.2015 07:35

Big Oil’s campaign donations result in taxpayer subsidies - report
Oil companies making donations to politicians are getting massive tax credits in return, despite President Obama’s 2009 call to stop subsidizing big oil, claims the Guardian following an investigation into three corporate projects.

13.05.2015 18:00

IEA: Battle for global oil market share just started
Global oil supply remained flat in the first quarter of 2015, as slowing shale output in the US was offset by OPEC and increased supply from "unsuspected corners," such as Vietnam, Malaysia and China, according to the International Energy Agency (IEA).

13.05.2015 07:23