Insight and inspiration in turbulent times.
The oil industry has lavished more than $440 million over the past six years on politicians, political parties and lobbyists in order to protect its interests in Washington, according to a new report by the Center for Public Integrity.
The battle for control of Yukos, the Russian oil giant, has taken a fresh twist after it emerged that the country’s authorities have drawn up secret plans to seize control of the group’s oil.
On August 14, 2004, Venezuelan voters will decide on a referendum, which has the utmost world historic and strategic significance. What is at stake is nothing less than the future of the energy world, the relations between the US and Latin America (particularly Cuba), and the political and socio-economic fate of millions of Venezuela’s urban and rural poor.
The minister stressed close contacts between Iranian and foreign contractors to help promote national oil, gas and petrochemical industries.
China is in discussions with a group of six Middle Eastern countries to establish a free trade pact, state media reported Monday.
The European Union opened more of its energy market to full competition yesterday but there was little to celebrate. Power prices are high, big utilities dominate, and only two of 25 EU states met a deadline to transpose rules into national law.
NEARLY 30 years after work began on the Bataan nuclear power plant just north of Manila, Filipino taxpayers are still paying 155,000 dollars a day in interest on a structure that has never produced one watt of power.
A Christian charity has accused the coalition authority in Iraq of failing to account for up to $20bn (nearly £11bn) of oil revenues which should have been spent on relief and reconstruction projects.
The cost of Iraq’s reconstruction and the practice of awarding large contracts to big corporations with close ties to the administration, such as Halliburton, have been repeatedly criticized over the past year. Recent news reports, however, indicate the truth is even worse.
Shell Oil Co. plans to put the brakes on production at its Bakersfield refinery in July and August, potentially shorting California’s fuel supplies during the summertime driving season, according to internal Shell documents.
The World Bank’s drive to promote fossil fuel-generated power for 1,6-billion people lacking electricity will drive developing countries deeper into debt, a report by a development think tank claims on Monday.
Despite the war, the Sudanese economy has grown solidly, helped by rising oil exports which last year were about 300,000 barrels a day, and should reach 600,000 barrels per day next year.
