oil

MOSCOW (AFP) – Russian energy giant Lukoil signed an agreement in Baghdad on Sunday to develop Iraq's massive West Qurna-2 oil field, the company said in a statement. Along with Norway's StatoilHydro, Lukoil signed an initial deal in December last year to develop the field, which is expected to...

BAGHDAD (AFP) – Iraq's cabinet approved on Tuesday four deals with foreign energy firms to dramatically ramp up the country's oil output, government spokesman Ali al-Dabbagh said. The agreements include one with Anglo-Dutch giant Shell and Malaysia's Petronas for the enormous Majnoon field in...

3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montana’s Bakken Formation—25 Times More Than 1995 Estimate— Read entire article here:

BAGHDAD (AFP) – A consortium led by Russian energy giant Lukoil initialled a deal with Iraq at a ceremony at the oil ministry in Baghdad on Tuesday to develop the massive West Qurna-2 oil field. Along with Norway's StatoilHydro, Lukoil is aiming to raise production at the field in southern...

BAGHDAD (AFP) – Angolan energy firm Sonangol initialled two deals with Iraq on Wednesday to develop oil fields in the north of the country, oil ministry spokesman Assem Jihad said. The two agreements completed the initialling of seven deals reached between Baghdad and foreign energy firms...

AFP Friday, December 18, 2009 NASIRIYAH, Iraq (AFP) – Iranian forces took control of a southern Iraqi oil well on a disputed section of the border on Friday, US and Iraqi officials told AFP. “There has been no violence related to this incident and we trust this will be resolved through...

NEW DELHI (Reuters) – ONGC Videsh, the overseas investment arm of state-run Oil and Natural Gas Corp, is planning to set up a greenfield refinery in Nigeria, Oil Minister Murli Deora told reporters on Monday.

ABUJA (AFP) – Nigeria on Wednesday approved dozens of projects aimed at easing tensions in the oil-rich Niger Delta, where unrest in the past three years has hurt the country's lucrative oil industry. Information Minister Dora Akunyili told reporters some 45 projects had been approved by the...

WASHINGTON – The Interior Department said Wednesday it is ending a controversial program that allows companies to give the government in-kind payments instead of cash for oil and natural gas taken from federal land and waters. The royalty-in-kind program has been criticized for lax enforcement...

WASHINGTON – The U.S. Interior Department said on Wednesday it will begin phasing out its royalty-in-kind oil and natural gas program, which has been marred by scandals, and replace it with a more transparent scheme. Interior Secretary Ken Salazar said it would take at least a year or more to...

WASHINGTON – The Justice Department has launched an investigation into whether former Interior Secretary Gale A. Norton illegally used her position to steer lucrative oil leases to Royal Dutch Shell PLC, the company she works for now, officials with both departments confirmed to The Associated...

MOSCOW (AFP) – Net profits at British-Russian oil major TNK-BP plunged 57 percent in the first half of 2009 to 2.01 billion dollars (1.21 billion pounds) because of falling prices, the company said on Tuesday. TNK-BP said its turnover fell 49 percent to 28.3 billion dollars as export prices for...

Nigeria's most prominent militant group on Wednesday declared a 60-day ceasefire in its offensive against Africa's biggest oil industry to provide a chance for peace talks with the government. The Movement for the Emancipation of the Niger Delta (MEND), responsible for attacks that have cut...

Iraq's oil minister Hussein al-Shahristani on Tuesday defended his strategy for tapping the country's vast energy reserves, insisting that output must increase before new fields can be explored. Iraq is due next Monday or Tuesday to announce which of 31 foreign and state-owned bidders have won...

LAGOS (Reuters) – Nigeria's main militant group said on Sunday it had attacked three oil installations belonging to Royal Dutch Shell in the Niger Delta, widening a month-old offensive against Africa's biggest energy industry. The Movement for the Emancipation of the Niger Delta (MEND) said in...

LAGOS (AFP) – Nigerian rebels Sunday claimed three attacks in one day against Royal Dutch Shell's facilities as part of a campaign to cripple Nigeria's multi-billion-dollar oil industry. The Movement for the Emancipation of the Niger Delta (MEND) said in a statement it had "pounded" a Shell...

Nigeria's main militant group said Sunday its fighters had attacked two Royal Dutch Shell oil pipelines in Rivers state, taking its latest offensive to the eastern Niger Delta for the first time. The Movement for the Emancipation of the Niger Delta (MEND) said it had attacked Shell's pipelines...

Here we go again.......ricklbert Oil price up over petrol demand U Oil prices have risen nearly 9% after the US government reported an unexpected drop in crude stocks and an increase in demand for petrol. Prices were also supported by a rise in China's manufacturing index. China is the...

Oil tanker in collision and burning off Dubai Oil tanker in collision and burning off Dubai - Yahoo!7 News. DUBAI (Reuters) - An oil tanker carrying around $9 million (6 million pounds) worth of petroleum products was in collision with a container vessel off the Dubai coast on Tuesday, setting...

What long term effects oil explorations have on earth?How the hollow voids after oil is extracted get filled ?