ISIS militants are using the revenue from seized oil fields to finance their newly-formed Islamic state in northern Iraq. Sources within the regional government say the extremist militants are “making millions” in illegal trade.
If the standoff with Russia and the West reaches a point where the EU has to completely cut trade with Russia, oil prices could soar above $200 per barrel, sparking a global economic crisis, says Adam Slater, senior economist at Oxford Economics.
California is shutting down 11 oil and gas wastewater injection sites and reviewing over 100 others in the state’s drought-ravaged Central Valley as officials fear companies have pumped toxic fracking fluids into needed drinking water aquifers.
The Obama administration has widened the list of sanctions unilaterally targeting individuals as well as financial institutions and defense companies which the US believes are involved in destabilizing the situation in Ukraine.
There is a huge risk for the EU that Russia continues its pivot process that is already seen in terms of oil and gas pipelines and general trade as Russia switched to China, South Korea and Japan, expert on global financial markets Patrick Young told RT.
Eleven minor earthquakes shook central Oklahoma over the weekend, renewing speculation that the area’s oil and gas drilling boom - fueled by controversial hydraulic fracturing, or fracking - is to blame for an increase in seismic activity.
Russian billionaire Andrey Goncharenko shelled out a massive £120 million ($205 million) for Britain’s most expensive home, it has been revealed. The oligarch has since filled for planning permission to extend the Grade-2 listed London property.
Hundreds marched through Washington DC and rallied at the Capitol on Sunday to protest plans for a new liquid natural gas (LNG) export facility in Maryland. Local residents fear possible environmental risks.
Russian oil company Rosneft will help Cuban State oil company Cupet explore the country's offshore oil reserves, according to one of the cooperation documents signed between Russia and Cuba during President Vladimir Putin’s visit to Havana.
Armed Kurdish forces seized control of two state-run oilfields on Friday in the northern Iraqi city of Kirkuk as the Kurdish political bloc withdrew from Prime Minister Nuri al-Maliki's government, deepening the rift between the Kurds and the PM.