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News

40,000 Petrobras Employees Strike over Upcoming Libra Oilfield Auction

40,000 Petrobras Employees Strike over Upcoming Libra Oilfield Auction

Oct 18, 2013 at 17:21 | Joao Peixe

Having made the largest discovery of oil in decades, Brazil is trying to attract foreign investors to help its state-owned oil company, Petrobras, develop the giant reserves.On Monday…

Oil Majors Flock to Morocco, Excited by Offshore Potential

Oil Majors Flock to Morocco, Excited by Offshore Potential

Oct 18, 2013 at 17:16 | Charles Kennedy

Technological advances, and a better understanding of geological formations, has allowed oil companies to discover reserves in regions previously thought to be empty. This has caused a boom in activity…

Rising Energy Prices Force UK to Turn to Renewable Energy

Rising Energy Prices Force UK to Turn to Renewable Energy

Oct 18, 2013 at 17:02 | Joao Peixe

Energy prices are rising in the UK by fairly large margins. Last week SSE, one of the largest energy companies in Great Britain, said that it will increase its prices…

Apache Shifts Oil Focus to North America

Apache Shifts Oil Focus to North America

Oct 17, 2013 at 16:43 | Charles Kennedy

As Kenya prepares to pump its first crude and investors can hardly get enough of this East African hotspot, US-based Apache Corp. has announced it will be divesting its acreage…

UK Opens its Doors to Chinese Investment in Key Infrastructure

UK Opens its Doors to Chinese Investment in Key Infrastructure

Oct 17, 2013 at 16:41 | Joao Peixe

On the final day of his trade visit to China, British Chancellor of the Exchequer, George Osborne, has announced that Chinese companies will be allowed to buy a stake…

Chevron Invests $12 Billion on Gulf of Mexico Expansion

Chevron Invests $12 Billion on Gulf of Mexico Expansion

Oct 17, 2013 at 16:38 | Charles Kennedy

As part of what Joe Gregory, the general manager of major capital projects at Chevron, calls “a significant part of the company's growth strategy,” Chevron is spending almost $12 billion…

UK to Use its North Sea Experience to become a Hub for Arctic Oil Exploration

UK to Use its North Sea Experience to become a Hub for Arctic Oil Exploration

Oct 17, 2013 at 16:34 | James Burgess

The arrest of 28 Greenpeace activists protesting Arctic oil exploration in Russian waters has attracted the world’s attention. It seemed like this would bring more support for the fight…

The US Passes Saudi Arabia to become the World’s Largest Oil Producer

The US Passes Saudi Arabia to become the World’s Largest Oil Producer

Oct 16, 2013 at 16:59 | James Burgess

PIRA, a leader in worldwide energy market analysis, has recently announced that the US has finally surpassed Saudi Arabia as the largest oil producer in the world, after an…

Russia’s Oil Industry Spills 30 Million Barrels a Year

Russia’s Oil Industry Spills 30 Million Barrels a Year

Oct 16, 2013 at 16:55 | Charles Kennedy

Last month Greenpeace protestors attempted to board the Prirazlomnove oil platform to hang a protest banner against Arctic Sea oil drilling. In a report from February this year, titled “

Norway’s Sovereign Wealth Fund Gives a Boost to Global Renewable Energy

Norway’s Sovereign Wealth Fund Gives a Boost to Global Renewable Energy

Oct 16, 2013 at 16:51 | Joao Peixe

The Norwegian sovereign wealth fund is the largest in the world at around $750 billion, and a new government is currently being formed in Oslo that is considering investing…

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