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Energy / Crude Oil

With Friends Like Moscow, Who Needs Venezuela's Oil?

Feb 14, 2012 at 17:58 | Daniel J. Graeber

Venezuela said it was ready to welcome a Russian energy company into the giant Orinoco oil belt, solidifying a relationship propped up by a multi-million investment from Moscow last year.…

Canadian PM Shills Alberta Oil Sands in China

Feb 12, 2012 at 20:01 | John Daly

Canadian Conservative Prime Minister Stephen Harper is in the midst of an official visit to China. His mission? To convince Beijing’s mandarins to buy Canada’s Alberta oil sands…

What Does the Future hold for the World Oil Markets

Feb 12, 2012 at 18:49 | Ag Metal Miner

Never, it would seem, has the oil market been in such a state of disarray. Brent crude, the global benchmark, hit US$117 per barrel this week for the first time…

Time to Call Iran's Bluff on Oil?

Feb 09, 2012 at 17:30 | Daniel J. Graeber

Iranian lawmakers this week expressed support for a measure that would beat the European Union to the punch by cutting off oil exports before the summer. Tehran's measure amounts to…

Shedding Some Light on Peak Oil

Feb 09, 2012 at 16:44 | Gail Tverberg

On January 26, Bloomberg Businessweek printed an editorial by Charles Kenny titled, "Everything You Know About Peak Oil Is Wrong". This editorial reflects several common misunderstandings. According to Kenny:…

Bad Timing for Scottish Independence

Feb 08, 2012 at 17:53 | Daniel J. Graeber

Scotland under First Minister Alex Salmond announced plans to hold a referendum on independence from the United Kingdom in 2014. Edinburgh maintains it can support itself without the help of…

Sudan's President Omer al Bashir’s New Best Friend - Russia?

Feb 06, 2012 at 22:51 | John Daly

When Communism collapsed in the Soviet Union in December 1991, many Europeans naively thought that the new Russian government would fully embrace “Western” values. Two decades later, after a…

India Drops the Dollar and Pays for Iranian Oil in Gold

Feb 04, 2012 at 12:15 | Ag Metal Miner

Media reports suggests that India has agreed to pay the price of crude oil it imports from Iran in gold, which makes it the first country to drop the US…

Cuba, Oil Diplomacy and the Southern Tip of Florida

Feb 02, 2012 at 20:49 | Daniel J. Graeber

U.S. lawmakers spent most of this week lobbing insults at the Cuban government while assessing the risks of an offshore oil spill about 90 miles from the southern Florida coast.…

An Abundant Supply of Cheap Oil is the Most Important Resource for Our Future

Feb 02, 2012 at 20:40 | Gail Tverberg

Our economy runs on oil. Most of the tractors used for growing food run on oil. Nearly all of today’s cars and trucks run on oil. It is popular to…

Sudan's Oil War: Deadlines Before Development

Jan 28, 2012 at 10:04 | Daniel J. Graeber

Since gaining independence in July, Middle East and North African experts have expressed concerns that border conflicts and disputes over the sharing of oil revenue could threaten a very fragile…

The Global Hunt For Oil: Canadian Firm Drills First Exploration Well in Somalia

Jan 27, 2012 at 18:01 | John Daly

Energy companies are renowned for taking risks as they scour the globe for new opportunities.That said however, Canada’s Vancouver, BC-based Horn Petroleum Corporation, a unit of Africa Oil…

Greece - Between Iran and a Hard Place

Jan 27, 2012 at 12:58 | John Daly

Well, its official – on 23 January European Union foreign ministers agreed to ban the import of Iranian oil as part of sanctions designed to pressure Iran to end its…

U.S. to Lose Out Yet Again on Developing Cuba's Offshore Oil?

Jan 26, 2012 at 17:40 | John Daly

While the Gulf of Mexico is one of the world’s most heavily developed offshore oil production sites, one area has remained offline up to now – Cuba’s offshore waters.

Oil Majors Move Back to the Gulf of Mexico

Jan 25, 2012 at 17:42 | Energy Digital

Over a year since America's worst oil spill in the Gulf of Mexico, big oil finally gets back to business... with a vengeance. For the first time since BP's Deepwater…

Is Nigeria to become Africa's next failed nation-state?

Jan 24, 2012 at 17:20 | John Daly

By any yardstick, Nigeria, Africa’s most populous nation, should be black Africa’s glittering success story. A member of the Organization of Petroleum Exporting Countries, producing 2.5 million barrels per…

Croatia’s INA Oil Company, Caught Between al Assad and a Hard Place

Jan 22, 2012 at 19:40 | John Daly

As international pressure tightens against the regime of Syrian President Bashar al Assad, the Croatian national oil joint stock company Industrija Nafte (Oil Industry, or INA) is coming under increasing…

Post-Keystone, Canada Takes its Business Elsewhere

Jan 19, 2012 at 18:32 | Daniel J. Graeber

After Republican lawmakers in the United States lost their political gamble over the controversial Keystone XL pipeline, the Canadian government decided to issue a double insult to its southern neighbor…

In Another "Great Leap Forward," Chinese Firm Finds Oil in Thailand's Northeast

Jan 19, 2012 at 18:30 | John Daly

As seemingly omnivorous Chinese energy firms encircle the globe looking for exploitable hydrocarbon reserves, one firm is searching close to home. Shaanxi Yanchang Petroleum Corp. Ltd has started exploring…

Saudi Arabia's Rising Domestic Oil Consumption to Threaten Exports?

Jan 11, 2012 at 17:30 | John Daly

Saudi Arabia is currently the world’s leading oil producer, containing approximately one-fifth of the world's proven oil reserves. According to the U.S. Energy Information Agency, Saudi Aramco reported that it…

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