Nigeria’s Bodo community in the southern Delta has rejected a compensation offer from Shell for two oil spills in 2008 that devastated the mangrove and fishing area, lawyers and the company said Friday. More »
The U.S. shale revolution opened up leagues of new resources over the past half-decade, but North America’s discovered reserves add up to just 7.6 percent of the world’s untapped potential, according to a Wood MacKenzie report released this week. More »
After years of building a reputation as one of the most aggressive U.S. natural gas giants, Chesapeake Energy is slowing down. More »
Houston’s Halcón Resources Corp. said this week it had inked three separate purchase and sale agreements to sell off “certain non-core conventional assets” in the U.S. for $302 million. More »
Occidental Petroleum Corp.has begun looking for suitors to take a minority stake in its Middle East unit for as much as $8 billion, said people with knowledge of the matter. More »
As creditors led by Pacific Investment Management Co. try to salvage what is left of their stake in Eike Batista’s oil ambitions, the specter of ATP Oil & Gas Corp.’s demise underscores how much more they stand to lose. More »
Valero, the nation’s largest independent refiner, said its plan to expand hydrocrackers at its Port Arthur refinery and St. Charles plant in Louisiana would be delayed until 2018 instead of 2015.
With war fears still dominating the headlines in the Middle East and the US Federal Reserve slow to end easing, now would seem like a good time to own an oil field coming on line. Global oil prices remain over $100 a barrel with plenty of geopolitical risk around to keep them there at least […] More »
The Obama Administration has been reviewing the permit application to build the Keystone pipeline for over 5 years. There is now a report that the President is unlikely to make a decision until 2014. The State Department issued its draft findings in March and had been expected to complete its review by mid-summer. It did […] More »
In 1977, a rag tag group gathered to study Arabic under the tulelage of Dr. Abraham Udovitch, an acclaimed scholar who studied the social and economic life of 11th century Egypt, among other topics. It proved to be a highly successful group of people: To name a few, a professor of Middle Eastern politics (urbanism, […] More »
Libya’s prime minister faced increasing calls for his ouster on Saturday as strikes by government employees at oil export terminals cost the North African country more than $5 billion in losses.
Houston’s Gastar Exploration said this week that it will spend $187.5 million to buy an interest in land in the Hunton play of Oklahoma. More »